Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes Sells 500 Shares

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) Director Ned S. Holmes sold 500 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $72.12, for a total transaction of $36,060.00. Following the transaction, the director now directly owns 103,815 shares of the company's stock, valued at $7,487,137.80. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Prosperity Bancshares Trading Up 1.2 %

Shares of PB stock traded up $0.85 on Monday, reaching $71.37. The company's stock had a trading volume of 487,109 shares, compared to its average volume of 548,664. The stock's fifty day simple moving average is $75.83 and its 200-day simple moving average is $76.17. Prosperity Bancshares, Inc. has a 1 year low of $57.16 and a 1 year high of $86.76. The company has a market capitalization of $6.80 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, topping 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.

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Prosperity Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.25%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares's payout ratio is 45.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PB. Raymond James boosted their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. UBS Group cut their price target on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, December 26th. Bank of America raised Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price objective on the stock in a research note on Tuesday, January 7th. StockNews.com cut shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, March 19th. Finally, Stephens increased their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Prosperity Bancshares has a consensus rating of "Hold" and a consensus price target of $83.50.

Hedge Funds Weigh In On Prosperity Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of PB. Smartleaf Asset Management LLC boosted its stake in Prosperity Bancshares by 487.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock worth $28,000 after buying an additional 312 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Prosperity Bancshares by 368.5% in the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after acquiring an additional 409 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Prosperity Bancshares by 102.7% during 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 grew its holdings in Prosperity Bancshares by 20.4% during the 4th quarter. GAMMA Investing LLC now owns 844 shares of the bank's stock valued at $64,000 after purchasing an additional 143 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd raised its position in Prosperity Bancshares by 349.5% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after purchasing an additional 713 shares during the period. Hedge funds and other institutional investors own 80.69% of the company's stock.

About Prosperity Bancshares

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.