Prosperity Bancshares, Inc. (NYSE: PB – Get a rating) Chairman H E. Timanus, Jr. acquired 2,000 shares of Prosperity Bancshares in a transaction on Thursday, June 16. The shares were purchased at an average cost of $65.60 per share, with a total value of $131,200.00. Following the purchase, the president now directly owns 4,000 shares of the company, valued at approximately $262,400. The purchase was disclosed in a legal filing with the SEC, accessible via this hyperlink.
PB stock traded at $1.40 in Thursday’s midday session, hitting $66.26. The company’s stock had a trading volume of 996,667 shares, compared to an average volume of 517,103. The stock’s 50-day moving average price is $68.79 and its 200-day moving average price is $71.61. Prosperity Bancshares, Inc. has a 1-year low of $64.40 and a 1-year high of $80.46. The stock has a market capitalization of $6.11 billion, a price/earnings ratio of 12.28, a PEG ratio of 1.20 and a beta of 1.08.
Prosperity Bancshares (NYSE: PB – Get a rating) last released its quarterly earnings data on Wednesday, April 27. The bank reported earnings per share of $1.33 for the quarter, beating the consensus estimate of $1.29 by $0.04. Prosperity Bancshares had a return on equity of 7.95% and a net margin of 43.64%. The company posted revenue of $275.07 million for the quarter, compared to $273.00 million expected by analysts. In the same quarter a year earlier, the company earned earnings per share of $1.44. Research analysts expect Prosperity Bancshares, Inc. to post earnings per share of 5.66 for the current year.
The company also recently disclosed 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. The ex-date of this dividend is Tuesday, June 14. This represents an annualized dividend of $2.08 and a yield of 3.14%. Prosperity Bancshares’ dividend payout ratio is currently 37.75%.
Hedge funds have recently been buying and selling shares of the company. Covestor Ltd purchased a new equity stake from Prosperity Bancshares in the fourth quarter worth $27,000. City State Bank bought a new stake in shares of Prosperity Bancshares in the fourth quarter worth $36,000. Marshall Wace North America LP bought a new equity stake in Prosperity Bancshares in the first quarter for $35,000. Artemis Wealth Advisors LLC purchased a new equity stake from Prosperity Bancshares in the first quarter for $39,000. Finally, Dupont Capital Management Corp bought a new equity stake in Prosperity Bancshares in the fourth quarter worth $49,000. 80.30% of the shares are currently held by institutional investors and hedge funds.
Several brokerages have recently released reports on BP. Wolfe Research cut its target price on Prosperity Bancshares from $69.00 to $63.00 and gave the stock an “underperform” rating in a Thursday, May 26 research report. Truist Financial cut its price target on Prosperity Bancshares from $78.00 to $77.00 and set a “buy” rating on the stock in a research report Wednesday. To finish, StockNews.com cut shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a Thursday, June 2 research report. Two equity research analysts gave the stock a sell rating, two issued a hold rating and one gave the company a buy rating. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $77.75.
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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