Prosperity Bancshares, Inc. (NYSE:PB – Get Rating) Director Robert H. Steelhammer sold 1,200 shares of the company in a trade on Tuesday, June 7. The shares were sold at an average price of $72.57, for a total transaction of $87,084.00. Following completion of the transaction, the director now owns 135,455 shares of the company, valued at approximately $9,829,969.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link.

NYSE PB traded up $1.25 at midday on Tuesday, hitting $73.44. 580,364 shares were traded, against an average volume of 505,057. Prosperity Bancshares, Inc. has a 1-year low of $64.40 and a 1-year high of $80.46. The company’s 50-day simple moving average is $68.78 and its 200-day simple moving average is $71.85. The stock has a market capitalization of $6.77 billion, a PE ratio of 13.10, a PEG ratio of 1.27 and a beta of 1.08.

Prosperity Bancshares (NYSE:PB – Get Rating) last announced its results on Wednesday, April 27. The bank reported earnings per share (EPS) of $1.33 for the quarter, beating analyst consensus estimates of $1.29 by $0.04. The company posted revenue of $275.07 million for the quarter, versus analyst estimates of $273.00 million. Prosperity Bancshares had a net margin of 43.64% and a return on equity of 7.95%. In the same quarter last year, the company earned earnings per share of $1.44. On average, analysts expect Prosperity Bancshares, Inc. to post an EPS of 5.66 for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Wednesday, June 15 will receive a dividend of $0.52 per share. This represents a dividend of $2.08 on an annualized basis and a yield of 2.83%. The ex-dividend date is Tuesday, June 14. Prosperity Bancshares’ dividend payout ratio is currently 37.75%.

Several hedge funds have recently changed their PB holdings. Bank of America Corp DE increased its holdings in Prosperity Bancshares by 0.9% in the first quarter. Bank of America Corp DE now owns 244,373 shares of the bank worth $16,955,000 after acquiring 2,109 additional shares last quarter. Walleye Capital LLC increased its holdings of Prosperity Bancshares shares by 17.5% in Q1. Walleye Capital LLC now owns 85,976 shares of the bank valued at $5,965,000 after purchasing an additional 12,830 shares during the period. Advisory Services Network LLC increased its equity stake in Prosperity Bancshares to 96.2% in Q1. Advisory Services Network LLC now owns 6,474 shares of the bank valued at $449,000 after purchasing an additional 3,174 shares during the period. BNP Paribas Arbitrage SA increased its holding of Prosperity Bancshares shares by 50.5% in the first quarter. BNP Paribas Arbitrage SA now owns 38,236 shares of the bank valued at $2,653,000 after purchasing an additional 12,833 shares during the period. Finally, Walleye Trading LLC purchased a new stake in Prosperity Bancshares in Q1 worth approximately $227,000. 80.30% of the shares are currently held by institutional investors and hedge funds.

Several research analysts have weighed in on the stock. StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a Thursday, June 2 research report. Wolfe Research lowered its price target on Prosperity Bancshares shares from $69.00 to $63.00 and gave the stock an “underperform” rating in a Thursday, May 26 research report. Two analysts have rated the stock with a sell rating and three have issued a hold rating for the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.25.

About Prosperity Bancshares (Get a rating)

Prosperity Bancshares, Inc operates as a bank holding company for Prosperity Bank which provides financial products and services to businesses and consumers. It accepts various deposit products, such as current, savings, money market and term accounts, as well as certificates of deposit. The company also offers 1-4 family residential mortgages, commercial and multi-family residential, commercial and industrial, agricultural and non-real estate mortgages, as well as loans for construction, land development and other land loans. ; consumer loans, including secured loans for automobiles, recreational vehicles, boats, home improvement, personal and deposit accounts; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and the purchase of equipment and machinery.

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