Prosperity Bancshares, Inc. (NYSE:PB) Director Sells $91,564.00 in Stock

Prosperity Bancshares, Inc. (NYSE:PB) Director Leah Henderson sold 1,100 shares of Prosperity Bancshares stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $83.24, for a total transaction of $91,564.00. Following the completion of the sale, the director now directly owns 7,525 shares of the company’s stock, valued at approximately $626,381. This trade represents a 12.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Prosperity Bancshares Stock Performance

PB stock traded up $1.00 during midday trading on Monday, reaching $85.30. 479,923 shares of the company traded hands, compared to its average volume of 571,232. The firm has a market capitalization of $8.13 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of 1.26 and a beta of 0.89. Prosperity Bancshares, Inc. has a 52-week low of $57.16 and a 52-week high of $86.75. The business has a 50 day moving average of $74.83 and a 200-day moving average of $69.08.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. The business had revenue of $459.00 million for the quarter, compared to analyst estimates of $299.83 million. During the same period last year, the company posted $1.20 earnings per share. Research analysts anticipate that Prosperity Bancshares, Inc. will post 5.05 earnings per share for the current year.

Prosperity Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.56. Prosperity Bancshares’s dividend payout ratio is 47.56%.

Analysts Set New Price Targets

PB has been the subject of several research analyst reports. StockNews.com lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, November 20th. Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Truist Financial lowered shares of Prosperity Bancshares from a “buy” rating to a “hold” rating and cut their target price for the company from $81.00 to $79.00 in a research report on Friday, September 20th. Royal Bank of Canada restated a “sector perform” rating and issued a $77.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Finally, Raymond James lowered Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price target for the company. in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Prosperity Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $78.96.

Institutional Trading of Prosperity Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in Prosperity Bancshares by 59.6% in the second quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock valued at $29,000 after buying an additional 177 shares in the last quarter. Quarry LP raised its stake in shares of Prosperity Bancshares by 533.3% during the 2nd quarter. Quarry LP now owns 494 shares of the bank’s stock worth $30,000 after buying an additional 416 shares during the period. Quest Partners LLC lifted its position in shares of 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 in the last quarter. Strategic Financial Concepts LLC acquired a new stake in Prosperity Bancshares in the 2nd quarter valued at $43,000. Finally, Headlands Technologies LLC purchased a new stake in Prosperity Bancshares in the 2nd quarter worth $46,000. 80.69% of the stock is currently owned by institutional investors and hedge funds.

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.