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

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $78.43, for a total value of $39,215.00. Following the transaction, the director now directly owns 108,815 shares in the company, valued at approximately $8,534,360.45. This represents a 0.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Prosperity Bancshares Trading Up 1.2 %

PB opened at $78.88 on Friday. The business’s 50 day moving average is $79.29 and its 200-day moving average is $73.83. The stock has a market cap of $7.51 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.03 and a beta of 0.93. Prosperity Bancshares, Inc. has a twelve month low of $57.16 and a twelve month high of $86.75.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, October 23rd. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. The firm had revenue of $459.00 million for the quarter, compared to the consensus estimate of $299.83 million. During the same quarter in the previous year, the business earned $1.20 EPS. As a group, analysts forecast that Prosperity Bancshares, Inc. will post 5.04 EPS for the current year.

Institutional Investors Weigh In On Prosperity Bancshares

Several institutional investors have recently bought and sold shares of PB. Quest Partners LLC increased its stake in Prosperity Bancshares by 3,147.1% during the 2nd quarter. Quest Partners LLC now owns 552 shares of the bank’s stock valued at $34,000 after buying an additional 535 shares during the period. Headlands Technologies LLC acquired a new position in shares of Prosperity Bancshares during the second quarter valued at approximately $46,000. American Century Companies Inc. raised its holdings in Prosperity Bancshares by 2.0% during the second quarter. American Century Companies Inc. now owns 29,315 shares of the bank’s stock worth $1,792,000 after purchasing an additional 575 shares in the last quarter. Federated Hermes Inc. lifted its position in Prosperity Bancshares by 9.8% in the second quarter. Federated Hermes Inc. now owns 66,059 shares of the bank’s stock worth $4,039,000 after purchasing an additional 5,920 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of Prosperity Bancshares by 7.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 47,395 shares of the bank’s stock valued at $2,898,000 after purchasing an additional 3,175 shares during the period. Institutional investors and hedge funds own 80.69% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays upped their price target on Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 price target on shares of Prosperity Bancshares in a report on Thursday, October 24th. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research note on Tuesday, January 7th. Finally, UBS Group decreased their target price on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research note 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, the company presently has a consensus rating of “Hold” and a consensus price target of $81.38.

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.