Prosperity Bancshares Inc. (PB) Insider Michael Epps Sells 5,000 Shares
Prosperity Bancshares Inc. (NYSE:PB) insider Michael Epps sold 5,000 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $63.90, for a total value of $319,500.00. Following the completion of the transaction, the insider now directly owns 110,303 shares of the company’s stock, valued at $7,048,361.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Prosperity Bancshares Inc. (NYSE:PB) opened at 65.52 on Tuesday. The stock has a 50 day moving average price of $57.19 and a 200 day moving average price of $53.57. The firm has a market cap of $4.55 billion, a P/E ratio of 16.59 and a beta of 1.19. Prosperity Bancshares Inc. has a 52-week low of $33.57 and a 52-week high of $66.23.
Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, October 26th. The company reported $0.99 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.99. The company earned $183.80 million during the quarter, compared to the consensus estimate of $189.25 million. Prosperity Bancshares had a return on equity of 7.83% and a net margin of 34.83%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the business posted $1.01 EPS. Equities analysts predict that Prosperity Bancshares Inc. will post $3.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $1.36 dividend on an annualized basis and a yield of 2.08%. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.30. Prosperity Bancshares’s payout ratio is 30.30%.
A number of brokerages have recently commented on PB. Wedbush began coverage on Prosperity Bancshares in a report on Thursday, October 6th. They issued a “neutral” rating and a $54.00 price target on the stock. FBR & Co upgraded Prosperity Bancshares from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $60.00 in a report on Tuesday, October 11th. Zacks Investment Research upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, October 13th. DA Davidson lowered Prosperity Bancshares from a “buy” rating to a “neutral” rating in a report on Thursday, October 27th. Finally, SunTrust Banks Inc. began coverage on Prosperity Bancshares in a report on Thursday, October 6th. They issued a “neutral” rating on the stock. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $52.79.
A number of institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its position in Prosperity Bancshares by 13.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 3,724,686 shares of the company’s stock worth $204,448,000 after buying an additional 428,737 shares during the period. Martin & Co. Inc. TN increased its position in Prosperity Bancshares by 1.7% in the third quarter. Martin & Co. Inc. TN now owns 19,280 shares of the company’s stock worth $1,058,000 after buying an additional 325 shares during the period. Ameritas Investment Partners Inc. increased its position in Prosperity Bancshares by 71.8% in the third quarter. Ameritas Investment Partners Inc. now owns 26,720 shares of the company’s stock worth $1,467,000 after buying an additional 11,163 shares during the period. Cetera Advisor Networks LLC increased its position in Prosperity Bancshares by 100.0% in the third quarter. Cetera Advisor Networks LLC now owns 8,932 shares of the company’s stock worth $490,000 after buying an additional 4,466 shares during the period. Finally, Panagora Asset Management Inc. increased its position in Prosperity Bancshares by 54.6% in the third quarter. Panagora Asset Management Inc. now owns 32,824 shares of the company’s stock worth $1,802,000 after buying an additional 11,589 shares during the period. Institutional investors and hedge funds own 74.67% of the company’s stock.
Prosperity Bancshares Company Profile
Prosperity Bancshares, Inc is a financial holding company. The Company 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’s additional products and services include trust services, brokerage, mortgage lending, credit card and independent sales organization (ISO) sponsorship operations.
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