Prosperity Bancshares, Inc. (NYSE:PB) CFO David Hollaway sold 5,000 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $76.32, for a total value of $381,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Prosperity Bancshares, Inc. (NYSE PB) opened at $76.28 on Friday. The firm has a market capitalization of $5,390.00, a PE ratio of 19.46, a PEG ratio of 1.58 and a beta of 1.37. Prosperity Bancshares, Inc. has a 52 week low of $55.84 and a 52 week high of $77.89.
Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, January 24th. The bank reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.01). The business had revenue of $185.27 million for the quarter, compared to analyst estimates of $185.43 million. Prosperity Bancshares had a net margin of 34.28% and a return on equity of 7.28%. During the same quarter in the prior year, the business earned $0.99 earnings per share. research analysts forecast that Prosperity Bancshares, Inc. will post 4.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 16th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, March 15th. This represents a $1.44 annualized dividend and a dividend yield of 1.89%. Prosperity Bancshares’s payout ratio is 36.73%.
Several hedge funds have recently modified their holdings of PB. Janus Henderson Group PLC lifted its position in shares of Prosperity Bancshares by 108.1% during the third quarter. Janus Henderson Group PLC now owns 1,957,916 shares of the bank’s stock worth $128,701,000 after purchasing an additional 1,017,115 shares during the last quarter. Koch Industries Inc. bought a new position in shares of Prosperity Bancshares during the second quarter worth about $333,000. Deprince Race & Zollo Inc. lifted its position in shares of Prosperity Bancshares by 59.5% during the third quarter. Deprince Race & Zollo Inc. now owns 684,927 shares of the bank’s stock worth $45,020,000 after purchasing an additional 255,384 shares during the last quarter. FMR LLC lifted its position in shares of Prosperity Bancshares by 14.5% during the second quarter. FMR LLC now owns 1,980,933 shares of the bank’s stock worth $127,255,000 after purchasing an additional 251,330 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of Prosperity Bancshares by 3,568.8% during the third quarter. Envestnet Asset Management Inc. now owns 190,669 shares of the bank’s stock worth $12,532,000 after purchasing an additional 185,472 shares during the last quarter. 76.84% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the company. DA Davidson raised their target price on Prosperity Bancshares to $80.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. SunTrust Banks restated a “buy” rating and set a $85.00 target price on shares of Prosperity Bancshares in a research note on Thursday, January 25th. ValuEngine downgraded Prosperity Bancshares from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Zacks Investment Research upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, October 27th. Finally, Piper Jaffray Companies restated a “hold” rating and set a $73.00 target price on shares of Prosperity Bancshares in a research note on Tuesday, January 9th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Prosperity Bancshares presently has an average rating of “Hold” and an average target price of $74.45.
About Prosperity Bancshares
Prosperity Bancshares, Inc is a financial holding company, which operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. The Company, through the Bank, offers a range of loan and deposit products to its customers.
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