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 firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $78.30, for a total value of $39,150.00. Following the transaction, the director now owns 106,815 shares in the company, valued at approximately $8,363,614.50. This trade represents a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Prosperity Bancshares Stock Performance

NYSE PB traded down $0.21 during trading on Friday, reaching $77.81. 364,211 shares of the company traded hands, compared to its average volume of 534,234. The stock's 50 day moving average price is $77.79 and its two-hundred day moving average price is $75.75. The company has a market cap of $7.41 billion, a price-to-earnings ratio of 15.38, a P/E/G ratio of 0.98 and a beta of 0.94. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.75.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings data 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 return on equity of 6.64% and a net margin of 26.79%. Equities research analysts expect that Prosperity Bancshares, Inc. will post 5.83 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares's payout ratio is 45.85%.

Institutional Investors Weigh In On Prosperity Bancshares

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its stake in shares of Prosperity Bancshares by 47.9% in the third quarter. GAMMA Investing LLC now owns 701 shares of the bank's stock valued at $51,000 after acquiring an additional 227 shares during the last quarter. CWM LLC raised its stake in shares of Prosperity Bancshares by 29.3% in the third quarter. CWM LLC now owns 7,803 shares of the bank's stock valued at $562,000 after acquiring an additional 1,766 shares during the last quarter. Creative Planning raised its stake in shares of Prosperity Bancshares by 17.2% in the third quarter. Creative Planning now owns 3,909 shares of the bank's stock valued at $282,000 after acquiring an additional 574 shares during the last quarter. NBC Securities Inc. raised its stake in shares of Prosperity Bancshares by 36.1% in the third quarter. NBC Securities Inc. now owns 6,004 shares of the bank's stock valued at $432,000 after acquiring an additional 1,594 shares during the last quarter. Finally, Hunter Perkins Capital Management LLC raised its stake in shares of Prosperity Bancshares by 2.8% in the third quarter. Hunter Perkins Capital Management LLC now owns 159,220 shares of the bank's stock valued at $11,530,000 after acquiring an additional 4,265 shares during the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PB has been the topic of several recent research reports. StockNews.com upgraded Prosperity Bancshares from a "sell" rating to a "hold" rating in a report on Friday, January 31st. Raymond James raised their target price on Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Wedbush restated an "outperform" rating and set a $90.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. Stephens raised their target price on Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, UBS Group lowered their price target on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating on the stock in a research report on Thursday, December 26th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.