Insider Selling: Prosperity Bancshares EVP Sells 5,000 Shares of Stock (PB)
Prosperity Bancshares (NYSE:PB) EVP Michael Epps sold 5,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $61.50, for a total value of $307,500.00. Following the completion of the transaction, the executive vice president now directly owns 95,000 shares in the company, valued at approximately $5,842,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Prosperity Bancshares (NYSE:PB) traded down 0.03% during mid-day trading on Wednesday, hitting $61.04. 224,370 shares of the company’s stock traded hands. Prosperity Bancshares has a 52 week low of $44.33 and a 52 week high of $66.90. The stock’s 50-day moving average is $62.61 and its 200-day moving average is $61.90. The company has a market cap of $4.032 billion and a P/E ratio of 16.73.
Prosperity Bancshares (NYSE:PB) last announced its earnings results on Friday, January 24th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.07. During the same quarter in the previous year, the company posted $0.85 earnings per share. On average, analysts predict that Prosperity Bancshares will post $4.14 EPS for the current fiscal year.
A number of research firms have recently commented on PB. Analysts at FBR Capital Markets raised their price target on shares of Prosperity Bancshares from $60.00 to $67.00 in a research note to investors on Monday, January 27th. They now have a “hold” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Prosperity Bancshares from $65.00 to $68.00 in a research note to investors on Monday, January 27th. They now have a “sector perform” rating on the stock. Finally, analysts at BMO Capital Markets upgraded shares of Prosperity Bancshares from a “market perform” rating to an “outperform” rating in a research note to investors on Monday, January 27th. They now have a $73.00 price target on the stock, up previously from $68.00. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Prosperity Bancshares currently has a consensus rating of “Hold” and an average price target of $63.78.
Prosperity Bancshares, Inc, incorporated on December 22, 1983, is a financial holding company. The Company operates through its bank subsidiary, Prosperity Bank (NYSE:PB).
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