Prosperity Bancshares Chairman Purchases $113,440 in Stock (PB)
Prosperity Bancshares (NYSE:PB) Chairman H E. Timanus, Jr. bought 2,000 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was purchased at an average cost of $56.72 per share, for a total transaction of $113,440.00. Following the completion of the acquisition, the chairman now directly owns 90,524 shares of the company’s stock, valued at approximately $5,134,521. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Prosperity Bancshares (NYSE:PB) traded down 0.74% during mid-day trading on Tuesday, hitting $57.53. The stock had a trading volume of 257,195 shares. Prosperity Bancshares has a 1-year low of $48.32 and a 1-year high of $67.68. The stock has a 50-day moving average of $60.94 and a 200-day moving average of $62.5. The company has a market cap of $4.012 billion and a price-to-earnings ratio of 15.25.
Prosperity Bancshares (NYSE:PB) last released its earnings data on Wednesday, April 23rd. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.02. During the same quarter in the previous year, the company posted $0.86 earnings per share. Analysts expect that Prosperity Bancshares will post $4.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 1st. Stockholders of record on Monday, June 16th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Thursday, June 12th.
PB has been the subject of a number of recent research reports. Analysts at SunTrust cut their price target on shares of Prosperity Bancshares from $77.00 to $70.00 in a research note on Friday, May 9th. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Prosperity Bancshares in a research note on Wednesday, April 30th. They now have a $66.00 price target on the stock, down previously from $68.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Prosperity Bancshares in a research note on Friday, March 28th. They now have a $68.00 price target on the stock. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $64.60.
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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