Prosperity Bancshares, Inc. (NYSE:PB) Chairman H E. Timanus, Jr. acquired 5,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The stock was purchased at an average cost of $42.99 per share, for a total transaction of $214,950.00. Following the transaction, the chairman now owns 176,944 shares in the company, valued at $7,606,822.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of PB stock opened at $48.22 on Thursday. Prosperity Bancshares, Inc. has a fifty-two week low of $42.02 and a fifty-two week high of $75.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.75 and a current ratio of 0.75. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 0.82 and a beta of 1.22. The stock’s 50-day simple moving average is $64.02 and its 200-day simple moving average is $68.88.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $1.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.22. The firm had revenue of $267.54 million during the quarter, compared to analyst estimates of $248.69 million. Prosperity Bancshares had a net margin of 34.66% and a return on equity of 8.04%. During the same period last year, the firm posted $1.19 EPS. As a group, equities analysts forecast that Prosperity Bancshares, Inc. will post 5.25 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.84 dividend on an annualized basis and a yield of 3.82%. Prosperity Bancshares’s payout ratio is 36.65%.

A number of research firms recently commented on PB. Stephens increased their target price on shares of Prosperity Bancshares from $75.00 to $78.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Hovde Group downgraded shares of Prosperity Bancshares from a “market perform” rating to an “underperform” rating in a research note on Wednesday, December 11th. Morgan Stanley cut their price target on shares of Prosperity Bancshares from $67.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 17th. ValuEngine downgraded Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, December 20th. Finally, Wedbush upgraded Prosperity Bancshares from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $75.00 to $74.00 in a report on Monday, March 2nd. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $74.64.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. raised its holdings in shares of Prosperity Bancshares by 11.9% during the fourth quarter. Macquarie Group Ltd. now owns 912,664 shares of the bank’s stock worth $65,612,000 after purchasing an additional 96,904 shares during the last quarter. Franklin Resources Inc. acquired a new position in Prosperity Bancshares during the fourth quarter valued at $15,593,000. Nuveen Asset Management LLC lifted its position in Prosperity Bancshares by 80.0% during the fourth quarter. Nuveen Asset Management LLC now owns 271,714 shares of the bank’s stock valued at $19,534,000 after purchasing an additional 120,735 shares during the period. Norges Bank acquired a new position in Prosperity Bancshares during the fourth quarter valued at $61,987,000. Finally, Pearl River Capital LLC boosted its holdings in Prosperity Bancshares by 10,408.9% in the fourth quarter. Pearl River Capital LLC now owns 4,729 shares of the bank’s stock valued at $340,000 after purchasing an additional 4,684 shares during the last quarter. 80.88% of the stock is owned by institutional investors and hedge funds.

About Prosperity Bancshares

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, 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; and consumer durables and home equity loans.

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