Prosperity Bancshares, Inc. (NYSE:PB) Chairman H E. Timanus, Jr. Sells 4,000 Shares

Prosperity Bancshares, Inc. (NYSE:PBGet Free Report) Chairman H E. Timanus, Jr. sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $86.50, for a total value of $346,000.00. Following the completion of the sale, the chairman now owns 229,953 shares in the company, valued at approximately $19,890,934.50. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Prosperity Bancshares Price Performance

PB stock opened at $84.73 on Wednesday. The company has a 50 day moving average price of $75.07 and a 200 day moving average price of $69.24. Prosperity Bancshares, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $86.75. The stock has a market capitalization of $8.07 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.27 and a beta of 0.89.

Prosperity Bancshares (NYSE:PBGet Free Report) last released its earnings results on Wednesday, October 23rd. The bank reported $1.34 EPS 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 company had revenue of $459.00 million during the quarter, compared to analysts’ expectations of $299.83 million. During the same period last year, the firm earned $1.20 EPS. As a group, equities analysts expect that Prosperity Bancshares, Inc. will post 5.05 earnings per share for the current fiscal year.

Prosperity Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be issued a dividend of $0.58 per share. This is a boost from Prosperity Bancshares’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 2.74%. The ex-dividend date is Friday, December 13th. Prosperity Bancshares’s payout ratio is currently 47.56%.

Analysts Set New Price Targets

PB has been the topic of several recent analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Raymond James lowered shares of Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 target price on the stock. in a report on Tuesday, September 17th. DA Davidson cut shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $80.00 to $78.00 in a research report on Tuesday, October 15th. Hovde Group boosted their price target on shares of Prosperity Bancshares from $80.50 to $82.50 and gave the company an “outperform” rating in a research report on Monday, August 26th. Finally, Truist Financial cut shares of Prosperity Bancshares from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $81.00 to $79.00 in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $78.96.

Get Our Latest Stock Report on Prosperity Bancshares

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. M&T Bank Corp raised its stake in shares of Prosperity Bancshares by 0.3% during the third quarter. M&T Bank Corp now owns 45,392 shares of the bank’s stock worth $3,272,000 after buying an additional 149 shares during the last quarter. US Bancorp DE raised its position in shares of Prosperity Bancshares by 3.4% during the 3rd quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock valued at $340,000 after acquiring an additional 153 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Prosperity Bancshares by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock valued at $29,000 after purchasing an additional 177 shares during the period. Tectonic Advisors LLC boosted its position in shares of Prosperity Bancshares by 3.0% in the 3rd quarter. Tectonic Advisors LLC now owns 7,058 shares of the bank’s stock worth $509,000 after purchasing an additional 206 shares during the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Prosperity Bancshares by 5.7% during the third quarter. Tidal Investments LLC now owns 3,875 shares of the bank’s stock worth $279,000 after purchasing an additional 209 shares during the period. Institutional investors own 80.69% of the company’s stock.

About Prosperity Bancshares

(Get Free Report)

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.

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