Insider Selling: Prosperity Bancshares, Inc. (NYSE:PB) Director Sells 500 Shares of Stock

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction that occurred on Wednesday, March 26th. The stock was 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 in the company, valued at approximately $7,487,137.80. This represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Prosperity Bancshares Price Performance

Shares of Prosperity Bancshares stock traded down $0.35 during trading hours on Thursday, reaching $71.32. The company had a trading volume of 140,927 shares, compared to its average volume of 566,515. The firm has a market cap of $6.79 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.94 and a beta of 0.94. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.75. The business has a fifty day simple moving average of $76.12 and a 200 day simple moving average of $76.16.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 29th. The bank reported $1.37 EPS 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%. On average, research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 3.25%. The ex-dividend date of this dividend is Friday, March 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 45.85%.

Wall Street Analyst Weigh In

PB has been the topic of a number of recent analyst reports. Bank of America upgraded Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Tuesday, January 7th. Raymond James lifted their target price on Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, March 19th. Wolfe Research reaffirmed a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Finally, UBS Group reduced their target price on shares of Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Prosperity Bancshares presently has a consensus rating of “Hold” and an average price target of $83.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its holdings in shares of Prosperity Bancshares by 487.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank’s stock worth $28,000 after purchasing an additional 312 shares during the period. Jones Financial Companies Lllp increased its stake in 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. raised its holdings in shares of Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock valued at $45,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of 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 acquiring an additional 143 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of Prosperity Bancshares by 349.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank’s stock worth $69,000 after purchasing an additional 713 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

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.