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

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) Director Ned S. Holmes sold 500 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $70.63, for a total value of $35,315.00. Following the completion of the transaction, the director now owns 104,815 shares of the company's stock, valued at $7,403,083.45. The trade was a 0.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Prosperity Bancshares Stock Up 2.4 %

Shares of NYSE:PB traded up $1.67 during trading on Friday, hitting $70.97. The stock had a trading volume of 759,936 shares, compared to its average volume of 525,137. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The company has a market capitalization of $6.76 billion, a PE ratio of 14.02, a PEG ratio of 0.94 and a beta of 0.94. The firm's fifty day moving average is $76.87 and its 200 day moving average is $76.25.

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

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Prosperity Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.58 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 3.27%. Prosperity Bancshares's payout ratio is currently 45.85%.

Institutional Trading of Prosperity Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its stake in shares of Prosperity Bancshares by 14.9% in the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank's stock worth $71,000 after buying an additional 128 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Prosperity Bancshares by 4.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,069 shares of the bank's stock worth $229,000 after buying an additional 128 shares during the last quarter. GAMMA Investing LLC boosted its stake 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. M&T Bank Corp boosted its stake in Prosperity Bancshares by 0.3% during the 3rd quarter. M&T Bank Corp now owns 45,392 shares of the bank's stock valued at $3,272,000 after purchasing an additional 149 shares during the last quarter. Finally, US Bancorp DE boosted its stake in Prosperity Bancshares by 3.4% during the 3rd quarter. US Bancorp DE now owns 4,720 shares of the bank's stock valued at $340,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PB shares. StockNews.com raised Prosperity Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday. UBS Group lowered their target price on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, December 26th. Wolfe Research reissued a "peer perform" rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. Raymond James boosted their target price on Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Finally, Bank of America raised Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research report on Tuesday, January 7th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $83.50.

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.