Prosperity Bancshares, Inc. (NYSE:PB) Director Robert H. Steelhammer sold 4,000 shares of the business’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $64.35, for a total transaction of $257,400.00. Following the transaction, the director now owns 147,800 shares in the company, valued at approximately $9,510,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Prosperity Bancshares, Inc. (NYSE:PB) traded up 2.13% during mid-day trading on Thursday, reaching $64.67. 847,589 shares of the company were exchanged. Prosperity Bancshares, Inc. has a 1-year low of $45.94 and a 1-year high of $77.87. The stock’s 50-day moving average price is $64.81 and its 200-day moving average price is $69.54. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 16.40 and a beta of 1.30.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, April 26th. The bank reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.02. The business had revenue of $183.25 million during the quarter, compared to analysts’ expectations of $185.03 million. Prosperity Bancshares had a return on equity of 7.58% and a net margin of 35.04%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, equities research analysts anticipate that Prosperity Bancshares, Inc. will post $4.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Friday, June 16th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Wednesday, June 14th. Prosperity Bancshares’s payout ratio is presently 34.43%.

TRADEMARK VIOLATION WARNING: This report was originally published by American Banking News and is owned by of American Banking News. If you are viewing this report on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/06/29/prosperity-bancshares-inc-pb-director-sells-257400-00-in-stock.html.

A number of analysts have recently issued reports on the stock. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Prosperity Bancshares in a research note on Thursday, April 6th. Keefe, Bruyette & Woods lowered shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $81.00 to $76.00 in a research note on Thursday, April 27th. Wedbush raised shares of Prosperity Bancshares from an “underperform” rating to a “neutral” rating and set a $67.00 target price for the company in a research note on Friday, May 19th. Zacks Investment Research raised shares of Prosperity Bancshares from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Thursday, March 2nd. Finally, BidaskClub raised shares of Prosperity Bancshares from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $71.00.

Institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in shares of Prosperity Bancshares during the first quarter valued at about $154,000. PNC Financial Services Group Inc. boosted its position in shares of Prosperity Bancshares by 13.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the bank’s stock valued at $156,000 after buying an additional 269 shares during the last quarter. Parametrica Management Ltd bought a new position in shares of Prosperity Bancshares during the first quarter valued at about $207,000. Engineers Gate Manager LP bought a new position in shares of Prosperity Bancshares during the first quarter valued at about $244,000. Finally, OppenheimerFunds Inc. bought a new position in shares of Prosperity Bancshares during the first quarter valued at about $271,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

About Prosperity Bancshares

Prosperity Bancshares, Inc is a financial holding company, which operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. The Company, through the Bank, offers a range of loan and deposit products to its customers.

Insider Buying and Selling by Quarter for Prosperity Bancshares (NYSE:PB)

Receive News & Ratings for Prosperity Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prosperity Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.