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

Key Points

• Director Ned Holmes sold 600 shares on May 6 at an average price of $70.24 for $42,144, trimming his stake by 1.45% to 40,700 shares valued at about $2.86 million.
• Prosperity beat Q1 estimates, reporting $1.50 EPS versus $1.41 expected and revenue of $367.6 million, a 19.9% year‑over‑year increase.
• Quarterly dividend announced: $0.60 per share (ex‑dividend June 15, payable July 1), implying a $2.40 annualized payout (~3.4% yield); analysts have a consensus "Hold" with an average target of $77.50.

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) Director Ned Holmes sold 600 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $70.24, for a total transaction of $42,144.00. Following the sale, the director owned 40,700 shares in the company, valued at $2,858,768. This trade represents a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Prosperity Bancshares Price Performance

Shares of NYSE PB traded down $0.41 during mid-day trading on Thursday, reaching $69.69. 168,963 shares of the company traded hands, compared to its average volume of 1,165,285. Prosperity Bancshares, Inc. has a fifty-two week low of $61.06 and a fifty-two week high of $77.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.76 and a quick ratio of 0.75. The firm has a market cap of $7.07 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.07 and a beta of 0.65. The stock has a fifty day simple moving average of $68.08 and a 200-day simple moving average of $69.17.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its earnings results on Wednesday, April 29th. The bank reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.09. The firm had revenue of $367.62 million during the quarter, compared to the consensus estimate of $358.60 million. Prosperity Bancshares had a return on equity of 7.20% and a net margin of 29.50%.The firm's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 earnings per share. Equities research analysts anticipate that Prosperity Bancshares, Inc. will post 6.24 EPS for the current fiscal year.

Prosperity Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.40 annualized dividend and a yield of 3.4%. Prosperity Bancshares's dividend payout ratio (DPR) is currently 43.48%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Mather Group LLC. purchased a new position in Prosperity Bancshares during the 3rd quarter valued at about $26,000. Community Bank N.A. acquired a new stake in shares of Prosperity Bancshares during the third quarter worth approximately $29,000. Danske Bank A S purchased a new position in Prosperity Bancshares during the third quarter valued at approximately $40,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Prosperity Bancshares during the third quarter valued at approximately $42,000. Finally, SouthState Bank Corp acquired a new position in Prosperity Bancshares in the 4th quarter valued at approximately $49,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PB. Cantor Fitzgerald boosted their price target on shares of Prosperity Bancshares from $81.00 to $83.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. TD Cowen increased their target price on shares of Prosperity Bancshares from $77.00 to $79.00 and gave the company a "buy" rating in a research note on Friday, May 1st. Barclays cut shares of Prosperity Bancshares from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $75.00 to $68.00 in a report on Monday, February 2nd. Morgan Stanley decreased their price target on shares of Prosperity Bancshares from $91.00 to $83.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 31st. Finally, Citigroup increased their price objective on Prosperity Bancshares from $72.00 to $74.00 and gave the company a "neutral" rating in a research report on Monday. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $77.50.

Prosperity Bancshares Company Profile

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.

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