Insider Selling: Prosperity Bancshares, Inc. (NYSE:PB) Director Sells 500 Shares of Stock

Prosperity Bancshares, Inc. (NYSE:PB) Director Ned S. Holmes sold 500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $78.43, for a total transaction of $39,215.00. Following the completion of the sale, the director now directly owns 108,815 shares of the company’s stock, valued at approximately $8,534,360.45. This trade represents a 0.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Prosperity Bancshares Stock Down 1.4 %

Shares of Prosperity Bancshares stock traded down $1.10 during trading on Thursday, reaching $77.73. The company’s stock had a trading volume of 133,721 shares, compared to its average volume of 457,369. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.75. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.03 and a beta of 0.93. The firm’s 50-day moving average is $79.33 and its two-hundred day moving average is $73.67.

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

Institutional Trading of Prosperity Bancshares

Several hedge funds have recently bought and sold shares of PB. Quarry LP grew its holdings in Prosperity Bancshares by 533.3% during the 2nd quarter. Quarry LP now owns 494 shares of the bank’s stock valued at $30,000 after buying an additional 416 shares in the last quarter. Quest Partners LLC boosted its position in shares of Prosperity Bancshares by 3,147.1% in the 2nd quarter. Quest Partners LLC now owns 552 shares of the bank’s stock worth $34,000 after purchasing an additional 535 shares in the last quarter. UMB Bank n.a. raised its stake in Prosperity Bancshares by 102.7% in the 4th quarter. UMB Bank n.a. now owns 592 shares of the bank’s stock worth $45,000 after acquiring an additional 300 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Prosperity Bancshares by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock valued at $51,000 after buying an additional 227 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Prosperity Bancshares during the 2nd quarter worth about $46,000. Institutional investors own 80.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America upgraded shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $80.00 price target on the stock in a research report on Tuesday, January 7th. Truist Financial downgraded shares of Prosperity Bancshares from a “buy” rating to a “hold” rating and dropped their target price for the stock from $81.00 to $79.00 in a report on Friday, September 20th. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Finally, UBS Group cut their target price on Prosperity Bancshares from $77.00 to $76.00 and set a “buy” rating for the company in a research report on Thursday, December 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.