Ned Holmes Sells 600 Shares of Prosperity Bancshares (NYSE:PB) Stock

Key Points

• Ned Holmes sold 600 shares on April 29 at an average price of $69.62, reducing his stake by 1.45% to 40,800 shares valued at about $2.84 million.
• Prosperity reported adjusted EPS of $1.50, beating the $1.41 consensus and delivering 19.9% YoY revenue growth, but GAAP results were hit by $42.5 million of merger-related costs (GAAP diluted EPS $1.16).
• The bank declared a quarterly dividend of $0.60 per share (annualized $2.40) with a 3.4% yield, payable July 1 to shareholders of record June 15.

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) Director Ned Holmes sold 600 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $69.62, for a total transaction of $41,772.00. Following the sale, the director directly owned 40,800 shares in the company, valued at $2,840,496. This trade represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Prosperity Bancshares Trading Up 1.3%

Shares of PB traded up $0.89 during mid-day trading on Thursday, hitting $69.72. 1,028,312 shares of the company traded hands, compared to its average volume of 1,188,612. Prosperity Bancshares, Inc. has a one year low of $61.06 and a one year high of $77.20. The business has a 50-day moving average of $68.23 and a 200 day moving average of $69.02. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 1.11 and a beta of 0.66.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The bank reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09. Prosperity Bancshares had a net margin of 31.22% and a return on equity of 7.11%. The business had revenue of $367.62 million for the quarter, compared to analysts' expectations of $387.99 million. During the same period in the prior year, the firm earned $1.37 earnings per share. Prosperity Bancshares's revenue was up 19.9% compared to the same quarter last year. As a group, analysts anticipate that Prosperity Bancshares, Inc. will post 6.19 earnings per share for the current year.

Prosperity Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, June 15th. Prosperity Bancshares's dividend payout ratio is 41.88%.

Prosperity Bancshares News Summary

Here are the key news stories impacting Prosperity Bancshares this week:

• Positive Sentiment: Beat on adjusted EPS — Prosperity reported adjusted diluted EPS of $1.50 (ex-merger costs), topping consensus and showing underlying earnings strength after recent acquisitions. PROSPERITY BANCSHARES, INC.® REPORTS FIRST QUARTER 2026 EARNINGS
• Positive Sentiment: Margin improvement outlook — management is targeting a ~3.70% combined NIM exit for 2026 and reported a sequential NIM gain (21 bps to 3.51%), supporting higher future net interest income. Prosperity targets ~3.70% combined NIM exit
• Positive Sentiment: M&A integration and pipeline — the company completed two recent mergers, finished a core system conversion, and expects the Stellar Bancorp close around July 1, which should drive scale and revenue synergies. PB Q1 deep dive
• Neutral Sentiment: Strong balance sheet growth — loans (ex-warehouse) rose ~$3.35B and deposits grew ~$4.15B in Q1, reflecting franchise growth but also increasing scale that needs profitable deployment. Q1 press release
• Neutral Sentiment: Asset quality and recognition — nonperforming assets remain low (~0.33%) and the bank received industry accolades, which support confidence but are not immediate earnings drivers. Q1 press release
• Negative Sentiment: Merger-related costs and GAAP impact — $42.5M of merger expenses reduced GAAP net income (GAAP diluted EPS $1.16 vs. $1.37 a year ago), creating near-term drag and volatility in reported results. PROSPERITY BANCSHARES Q1 release
• Negative Sentiment: Mixed revenue signal — while revenue rose ~19.9% YoY on higher NII and fees, some aggregate estimates/metrics appeared mixed versus expectations, leaving room for debate on near-term topline momentum. Zacks Q1 coverage

Wall Street Analyst Weigh In

Several research firms have recently commented on PB. Piper Sandler increased their price target on shares of Prosperity Bancshares from $74.00 to $75.00 and gave the company a "neutral" rating in a research note on Thursday. DA Davidson reissued a "neutral" rating and set a $76.00 price target on shares of Prosperity Bancshares in a research note on Thursday, January 29th. Cantor Fitzgerald raised their price objective on shares of Prosperity Bancshares from $81.00 to $83.00 and gave the company an "overweight" rating in a research note on Tuesday, March 3rd. Morgan Stanley reduced their price objective on shares of Prosperity Bancshares from $91.00 to $83.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 31st. Finally, Barclays cut shares of Prosperity Bancshares from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $75.00 to $68.00 in a research note on Monday, February 2nd. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Prosperity Bancshares currently has an average rating of "Hold" and an average price target of $78.38.

Hedge Funds Weigh In On Prosperity Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund boosted its stake in Prosperity Bancshares by 9.5% in the first quarter. Oregon Public Employees Retirement Fund now owns 20,732 shares of the bank's stock valued at $1,393,000 after acquiring an additional 1,800 shares during the last quarter. Jackson Thornton Wealth Management LLC boosted its stake in Prosperity Bancshares by 21.4% in the first quarter. Jackson Thornton Wealth Management LLC now owns 5,202 shares of the bank's stock valued at $358,000 after acquiring an additional 918 shares during the last quarter. Oxbow Advisors LLC bought a new position in Prosperity Bancshares in the first quarter valued at approximately $20,277,000. HB Wealth Management LLC boosted its stake in Prosperity Bancshares by 53.6% in the first quarter. HB Wealth Management LLC now owns 11,568 shares of the bank's stock valued at $777,000 after acquiring an additional 4,035 shares during the last quarter. Finally, Root Financial Partners LLC raised its holdings in Prosperity Bancshares by 310.6% in the first quarter. Root Financial Partners LLC now owns 1,162 shares of the bank's stock worth $78,000 after purchasing an additional 879 shares during the period. 80.69% of the stock is owned by institutional investors.

About Prosperity Bancshares

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.