Prosperity Bancshares, Inc. (NYSE:PB) Director Sells $35,430.00 in Stock

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) Director Ned S. Holmes sold 500 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $70.86, for a total transaction of $35,430.00. Following the transaction, the director now owns 104,315 shares in the company, valued at $7,391,760.90. The trade was a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Prosperity Bancshares Price Performance

Shares of Prosperity Bancshares stock traded up $1.67 on Monday, reaching $72.21. 533,390 shares of the company were exchanged, compared to its average volume of 523,574. The stock's 50 day moving average price is $76.37 and its 200-day moving average price is $76.19. The company has a market cap of $6.88 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a 1-year low of $57.16 and a 1-year high of $86.76.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $1.37 EPS 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%. On average, research analysts predict that Prosperity Bancshares, Inc. will post 5.83 earnings per share for the current fiscal year.

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Prosperity Bancshares Announces Dividend

The firm also recently declared 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 3.21%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares's dividend payout ratio (DPR) is 45.85%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PB. Wealth Enhancement Advisory Services LLC lifted its position in shares of Prosperity Bancshares by 9.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,801 shares of the bank's stock worth $512,000 after buying an additional 608 shares during the last quarter. Forum Financial Management LP purchased a new stake in Prosperity Bancshares in the fourth quarter valued at $242,000. GTS Securities LLC acquired a new position in Prosperity Bancshares in the fourth quarter valued at $303,000. iSAM Funds UK Ltd boosted its stake in Prosperity Bancshares by 11.1% in the fourth quarter. iSAM Funds UK Ltd now owns 13,540 shares of the bank's stock valued at $1,020,000 after acquiring an additional 1,349 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Prosperity Bancshares during the fourth quarter worth about $1,473,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Stephens increased their price objective on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Wolfe Research reiterated a "peer perform" rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Barclays boosted their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an "equal weight" rating in a report on Friday, December 20th. Morgan Stanley lowered their target price on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, UBS Group reduced their price target on shares of Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating on the stock in a research note on Thursday, December 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target 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.