Insider Selling: Prosperity Bancshares, Inc. (NYSE:PB) Director Sells 500 Shares of Stock

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) Director Ned S. Holmes sold 500 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $80.01, for a total value of $40,005.00. Following the completion of the transaction, the director now directly owns 107,315 shares in the company, valued at approximately $8,586,273.15. This represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Prosperity Bancshares Stock Performance

Shares of Prosperity Bancshares stock traded down $1.27 during midday trading on Monday, hitting $78.73. 395,423 shares of the company traded hands, compared to its average volume of 522,554. The firm's fifty day moving average price is $78.24 and its 200-day moving average price is $75.54. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 0.98 and a beta of 0.94. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.75.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. Equities research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 2.95%. Prosperity Bancshares's payout ratio is presently 45.85%.

Hedge Funds Weigh In On Prosperity Bancshares

Several large investors have recently bought and sold shares of PB. Smartleaf Asset Management LLC lifted its stake in shares of Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock worth $28,000 after acquiring an additional 312 shares during the period. Jones Financial Companies Lllp raised its holdings in Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after purchasing an additional 409 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank's stock worth $45,000 after purchasing an additional 300 shares during the period. GAMMA Investing LLC boosted its stake in shares of Prosperity Bancshares by 47.9% in the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the bank's stock valued at $51,000 after purchasing an additional 227 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Prosperity Bancshares by 190.0% during the third quarter. First Horizon Advisors Inc. now owns 815 shares of the bank's stock worth $59,000 after buying an additional 534 shares during the period. 80.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wedbush reissued an "outperform" rating and issued a $90.00 price objective on shares of Prosperity Bancshares in a report on Thursday, October 24th. DA Davidson downgraded Prosperity Bancshares from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $80.00 to $78.00 in a research report on Tuesday, October 15th. Stephens lifted their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. UBS Group cut their target price on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, December 26th. Finally, Barclays raised their price target on Prosperity Bancshares from $84.00 to $88.00 and gave the stock an "equal weight" rating in a research report on Friday, December 20th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $82.88.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; term loans and lines of credit; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.