Bank of America just raised its EUR/USD forecast
Ned Holmes, a director at Prosperity Bancshares Inc . (NYSE:PB), a $6.62 billion regional bank, has sold shares worth approximately $77,350, according to a recent SEC filing. InvestingPro analysis indicates the stock is currently undervalued, with analysts setting price targets between $77 and $90. The transactions occurred on May 28, 2025, involving multiple sales of common stock. The shares were sold at prices ranging from $70.2811 to $70.96 per share, near the current trading price of $69.47. Following these transactions, Holmes holds 100,915 shares directly, with additional holdings through various indirect ownership structures, including trusts and a limited partnership. The company maintains a strong dividend track record, having raised dividends for 17 consecutive years, with a current yield of 3.35%.
In other recent news, Prosperity Bancshares reported its first-quarter 2025 earnings, exceeding expectations with an earnings per share (EPS) of $1.37, surpassing the forecasted $1.35. However, the company’s revenue slightly missed projections, coming in at $306.68 million against an anticipated $307.93 million. Raymond (NSE:RYMD) James adjusted its price target for Prosperity Bancshares from $87 to $80, while maintaining an Outperform rating, following the positive quarterly performance. The bank’s first-quarter results showed stronger-than-anticipated fee income, continued net interest margin (NIM) expansion, and improved capital ratios. Despite lowering future EPS estimates due to reduced forecasts for loan and balance sheet growth, Raymond James highlighted the bank’s operational efficiency and strong capital position. Jefferies, on the other hand, initiated coverage on Prosperity Bancshares with a Buy rating and set a price target of $85, citing the bank’s positive outlook for NIM expansion and strong capital position. The firm’s endorsement reflects confidence in the bank’s ability to outperform its peers, particularly in credit performance during challenging economic times. These recent developments underscore the bank’s robust financial performance and strategic positioning in the market.
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