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

Prosperity Bancshares, Inc. (NYSE:PB - Get Free Report) Director Ned S. Holmes sold 500 shares of the business's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $71.98, for a total transaction of $35,990.00. Following the completion of the transaction, the director owned 97,415 shares in the company, valued at $7,011,931.70. This represents a 0.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Prosperity Bancshares Trading Down 0.3%

PB traded down $0.20 on Friday, hitting $73.58. 534,147 shares of the company's stock were exchanged, compared to its average volume of 602,190. The firm has a market cap of $7.01 billion, a PE ratio of 14.02, a P/E/G ratio of 1.02 and a beta of 0.68. Prosperity Bancshares, Inc. has a twelve month low of $61.57 and a twelve month high of $86.76. The stock has a fifty day moving average of $71.02 and a two-hundred day moving average of $72.29.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.02. Prosperity Bancshares had a net margin of 27.69% and a return on equity of 6.81%. The firm had revenue of $306.68 million for the quarter, compared to analyst estimates of $307.17 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. Prosperity Bancshares's quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts predict that Prosperity Bancshares, Inc. will post 5.83 EPS for the current year.

Prosperity Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Monday, September 15th. Prosperity Bancshares's dividend payout ratio (DPR) is 44.19%.

Wall Street Analysts Forecast Growth

PB has been the topic of a number of recent analyst reports. Hovde Group cut their price objective on shares of Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Keefe, Bruyette & Woods cut their target price on shares of Prosperity Bancshares from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Wall Street Zen upgraded shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Barclays cut their target price on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Royal Bank Of Canada cut their target price on shares of Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $83.80.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PB. Steph & Co. bought a new position in shares of Prosperity Bancshares in the second quarter valued at approximately $38,000. Jones Financial Companies Lllp boosted its holdings in shares of Prosperity Bancshares by 368.5% in the fourth quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock valued at $39,000 after acquiring an additional 409 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Prosperity Bancshares in the first quarter valued at approximately $48,000. Aster Capital Management DIFC Ltd boosted its holdings in shares of Prosperity Bancshares by 349.5% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock valued at $69,000 after acquiring an additional 713 shares in the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Prosperity Bancshares by 16.8% in the second quarter. Parallel Advisors LLC now owns 978 shares of the bank's stock valued at $69,000 after acquiring an additional 141 shares in the last quarter. 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.