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

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $70.87, for a total value of $35,435.00. Following the completion of the sale, the director now directly owns 103,315 shares of the company’s stock, valued at approximately $7,321,934.05. This represents a 0.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Prosperity Bancshares Trading Down 2.6 %

Prosperity Bancshares stock opened at $64.38 on Friday. The firm has a market cap of $6.13 billion, a PE ratio of 12.72, a P/E/G ratio of 0.94 and a beta of 0.82. Prosperity Bancshares, Inc. has a 12 month low of $57.16 and a 12 month high of $86.76. The stock’s 50 day simple moving average is $74.82 and its two-hundred day simple moving average is $76.00.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share (EPS) for the quarter, topping 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, equities research analysts forecast that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.58 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.32 annualized dividend and a dividend yield of 3.60%. Prosperity Bancshares’s dividend payout ratio is presently 45.85%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Raymond James lifted their target price on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Barclays lifted their price objective on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, March 19th. Stephens lifted their price target on Prosperity Bancshares from $93.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, UBS Group cut their price objective on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating on the stock in a report on Thursday, December 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $83.50.

Hedge Funds Weigh In On Prosperity Bancshares

Hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc raised its stake in shares of Prosperity Bancshares by 9.2% during the 1st quarter. Versant Capital Management Inc now owns 11,354 shares of the bank’s stock worth $810,000 after buying an additional 956 shares during the period. First Hawaiian Bank raised its position in Prosperity Bancshares by 10.6% during the first quarter. First Hawaiian Bank now owns 5,102 shares of the bank’s stock worth $364,000 after acquiring an additional 490 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Prosperity Bancshares by 9.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,801 shares of the bank’s stock valued at $512,000 after purchasing an additional 608 shares during the period. Forum Financial Management LP acquired a new stake in shares of Prosperity Bancshares in the fourth quarter valued at about $242,000. Finally, GTS Securities LLC acquired a new position in shares of Prosperity Bancshares during the 4th quarter worth about $303,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.