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, March 19th. The shares were sold at an average price of $70.86, for a total value of $35,430.00. Following the transaction, the director now directly owns 104,315 shares of the company's stock, valued at $7,391,760.90. This represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Prosperity Bancshares Trading Down 0.1 %

PB stock traded down $0.05 during midday trading on Friday, reaching $70.49. The company had a trading volume of 923,831 shares, compared to its average volume of 523,535. The company has a 50 day moving average of $76.43 and a two-hundred day moving average of $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 $6.71 billion, a P/E ratio of 13.93, a PEG ratio of 0.94 and a beta of 0.94.

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 (EPS) 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%. On average, sell-side analysts anticipate that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current year.

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Prosperity Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.58 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 3.29%. Prosperity Bancshares's dividend payout ratio is currently 45.85%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Prosperity Bancshares by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 9,780,006 shares of the bank's stock valued at $736,923,000 after buying an additional 44,567 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Prosperity Bancshares by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,586,260 shares of the bank's stock valued at $345,575,000 after acquiring an additional 48,304 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Prosperity Bancshares by 1.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,342,047 shares of the bank's stock valued at $176,473,000 after acquiring an additional 32,917 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Prosperity Bancshares by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank's stock worth $123,162,000 after purchasing an additional 15,309 shares during the last quarter. Finally, Snyder Capital Management L P grew its holdings in Prosperity Bancshares by 7.3% during the fourth quarter. Snyder Capital Management L P now owns 1,220,977 shares of the bank's stock valued at $92,001,000 after purchasing an additional 83,488 shares during the last quarter. Institutional investors own 80.69% of the company's stock.

Wall Street Analysts Forecast Growth

PB has been the subject of several recent research reports. Stephens increased their target price on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Raymond James raised their price objective on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Morgan Stanley cut their target price on Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. UBS Group decreased their price target 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, Wolfe Research restated a "peer perform" rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $83.50.

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.