Prosperity Bancshares, Inc. (NYSE:PB) EVP Robert J. Dowdell sold 7,600 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $65.45, for a total value of $497,420.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

PB stock traded down $0.17 during trading on Friday, reaching $65.59. 29,050 shares of the stock traded hands, compared to its average volume of 443,639. The business’s 50 day moving average price is $65.92 and its 200-day moving average price is $68.91. Prosperity Bancshares, Inc. has a 52-week low of $57.01 and a 52-week high of $76.10. The firm has a market capitalization of $4.51 billion, a PE ratio of 14.22, a P/E/G ratio of 1.59 and a beta of 1.36.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, July 24th. The bank reported $1.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.18. Prosperity Bancshares had a return on equity of 8.12% and a net margin of 38.27%. The firm had revenue of $184.80 million during the quarter, compared to the consensus estimate of $186.94 million. During the same quarter in the previous year, the business earned $1.17 earnings per share. Equities research analysts anticipate that Prosperity Bancshares, Inc. will post 4.74 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Friday, September 13th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 35.57%.

PB has been the subject of several research reports. Stephens set a $74.00 price objective on Prosperity Bancshares and gave the stock a “hold” rating in a report on Monday, June 17th. Raymond James raised Prosperity Bancshares from an “underperform” rating to a “market perform” rating and set a $62.71 price objective for the company in a report on Tuesday, June 18th. Finally, Sanford C. Bernstein cut Prosperity Bancshares from a “mkt perform” rating to an “underperform” rating in a report on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.95.

Hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. acquired a new position in shares of Prosperity Bancshares during the first quarter worth about $35,000. Pearl River Capital LLC acquired a new position in shares of Prosperity Bancshares during the second quarter worth about $40,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Prosperity Bancshares during the second quarter worth about $55,000. Point72 Asset Management L.P. acquired a new position in shares of Prosperity Bancshares during the second quarter worth about $66,000. Finally, Benjamin Edwards Inc. lifted its stake in shares of Prosperity Bancshares by 32.9% during the second quarter. Benjamin Edwards Inc. now owns 1,364 shares of the bank’s stock worth $90,000 after purchasing an additional 338 shares in the last quarter. 83.22% of the stock is owned by hedge funds and other institutional investors.

About Prosperity Bancshares

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, 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.

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