Prosperity Bancshares Inc. (NYSE:PB) President Edward Z. Safady sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $66.15, for a total transaction of $330,750.00. Following the transaction, the president now owns 5,329 shares of the company’s stock, valued at $352,513.35. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of Prosperity Bancshares Inc. (NYSE:PB) traded up 0.38% on Wednesday, reaching $66.19. 420,185 shares of the company traded hands. The stock has a market capitalization of $4.60 billion, a P/E ratio of 16.76 and a beta of 1.19. Prosperity Bancshares Inc. has a one year low of $33.57 and a one year high of $66.54. The stock’s 50 day moving average price is $57.53 and its 200-day moving average price is $53.70.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, October 26th. The company reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. Prosperity Bancshares had a net margin of 34.83% and a return on equity of 7.83%. The business earned $183.80 million during the quarter, compared to analyst estimates of $189.25 million. During the same period in the previous year, the business posted $1.01 earnings per share. Prosperity Bancshares’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts forecast that Prosperity Bancshares Inc. will post $3.92 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Prosperity Bancshares (NYSE:PB)

The firm 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 is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.30. This represents a $1.36 annualized dividend and a dividend yield of 2.05%. Prosperity Bancshares’s dividend payout ratio (DPR) is 30.30%.

PB has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Wedbush initiated coverage on shares of Prosperity Bancshares in a research report on Thursday, October 6th. They set a “neutral” rating and a $54.00 price objective for the company. SunTrust Banks Inc. initiated coverage on shares of Prosperity Bancshares in a research report on Thursday, October 6th. They set a “neutral” rating for the company. FBR & Co upgraded shares of Prosperity Bancshares from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $55.00 to $60.00 in a research report on Tuesday, October 11th. Finally, Deutsche Bank AG upped their price objective on shares of Prosperity Bancshares from $54.00 to $59.00 and gave the stock a “hold” rating in a research report on Tuesday, October 11th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $52.79.

Hedge funds and other institutional investors have recently bought and sold shares of the company. 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 valued at $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 valued at $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 valued at $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 valued at $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 valued at $1,802,000 after buying an additional 11,589 shares during the period. 74.67% of the stock is currently owned by hedge funds and other institutional investors.

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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.

5 Day Chart for NYSE:PB

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