H E. Timanus, Jr. Acquires 2,000 Shares of Prosperity Bancshares, Inc. (NYSE:PB) Stock

Prosperity Bancshares, Inc. (NYSE:PBGet Rating) Chairman H E. Timanus, Jr. purchased 2,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The stock was acquired at an average cost of $67.00 per share, for a total transaction of $134,000.00. Following the completion of the acquisition, the chairman now owns 2,000 shares in the company, valued at approximately $134,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of NYSE PB traded down $0.27 during trading hours on Friday, hitting $67.77. 613,066 shares of the company traded hands, compared to its average volume of 500,902. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.21 and a beta of 1.08. The company’s 50 day moving average price is $68.83 and its 200 day moving average price is $72.52. Prosperity Bancshares, Inc. has a 12 month low of $64.40 and a 12 month high of $80.46.

Prosperity Bancshares (NYSE:PBGet Rating) last released its earnings results on Wednesday, April 27th. The bank reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.02. Prosperity Bancshares had a return on equity of 7.95% and a net margin of 43.64%. During the same quarter in the prior year, the company posted $1.44 EPS. Sell-side analysts forecast that Prosperity Bancshares, Inc. will post 5.62 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 15th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Tuesday, June 14th. Prosperity Bancshares’s dividend payout ratio is currently 37.75%.

PB has been the topic of a number of research analyst reports. Wolfe Research cut Prosperity Bancshares from a “peer perform” rating to an “underperform” rating and lowered their price target for the stock from $78.00 to $69.00 in a report on Thursday, April 7th. StockNews.com assumed coverage on Prosperity Bancshares in a report on Thursday, March 31st. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $78.75.

Institutional investors have recently made changes to their positions in the business. Covestor Ltd bought a new position in Prosperity Bancshares in the 4th quarter valued at $27,000. Marshall Wace North America L.P. bought a new position in Prosperity Bancshares in the 1st quarter valued at $35,000. City State Bank bought a new position in Prosperity Bancshares in the 4th quarter valued at $36,000. Artemis Wealth Advisors LLC bought a new position in Prosperity Bancshares in the 1st quarter valued at $39,000. Finally, Dupont Capital Management Corp bought a new position in Prosperity Bancshares in the 4th quarter valued at $49,000. 80.30% of the stock is currently owned by institutional investors.

About Prosperity Bancshares (Get Rating)

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.

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