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Ned Holmes, a director at Prosperity Bancshares Inc . (NYSE:PB), recently sold a total of $77,683 worth of common stock, according to a filing with the Securities and Exchange Commission. The transactions, dated March 12, involved the sale of 1,100 shares at prices ranging from $70.61 to $70.63 per share. The $6.69 billion market cap bank has maintained its dividend payments for 27 consecutive years, with a current yield of 3.3%. According to InvestingPro analysis, the stock appears undervalued at current levels, with six analysts recently revising their earnings estimates upward.
These sales were executed in multiple transactions, and Holmes now holds a direct ownership of 104,815 shares following the transactions. Additionally, Holmes has indirect holdings in various capacities, including through a profit-sharing plan and as a trustee for family trusts. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access detailed research reports covering 1,400+ top US stocks, including Prosperity Bancshares.
In other recent news, Prosperity Bancshares reported impressive financial results for the fourth quarter of 2024, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $1.37, exceeding the forecasted $1.34, while its revenue reached $307.61 million, surpassing the anticipated $303.82 million. Net income increased by 36% year-over-year to $130 million, reflecting a strong financial performance. Prosperity Bancshares also announced a stock repurchase program that will allow the company to buy back up to 5% of its outstanding shares. The company continues to focus on mergers and acquisitions as a strategy for growth, with recent activity including the merger with Lone Star Bank. Analysts have shown interest in the company’s future net interest margin, which is expected to be between 3.25% and 3.35% in 2025, according to Prosperity Bancshares’ projections. The firm also reported an improved efficiency ratio of 46%, down from 55.6% in 2023, indicating better cost management. Additionally, Prosperity Bancshares maintains a conservative lending approach, contributing to its strong financial results and investor confidence.
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