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Ned Holmes, a director at Prosperity Bancshares Inc . (NYSE:PB), recently sold shares of the company, according to a filing with the Securities and Exchange Commission. The transactions, which occurred on April 2, 2025, involved the sale of multiple batches of common stock, totaling $77,963. The shares were sold at prices ranging from $69.78 to $71.21 per share. The sale prices align with current market valuations, with InvestingPro analysis suggesting the stock is slightly undervalued at its current trading level of $67.63.
Following these transactions, Holmes holds 103,315 shares directly and retains additional shares through various indirect holdings. The sales were executed as part of a pre-arranged trading plan, often used by insiders to plan stock transactions in advance and avoid potential conflicts of interest. Notably, Prosperity Bancshares has maintained dividend payments for 27 consecutive years and raised dividends for 17 straight years, according to InvestingPro data, which offers additional insights through its comprehensive Pro Research Report covering 1,400+ US stocks.
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. Additionally, Prosperity Bancshares reported revenue of $307.61 million, surpassing the anticipated $303.82 million. Net income for the quarter rose by 36% year-over-year to $130 million, indicating strong financial performance. Prosperity Bancshares also announced a stock repurchase program, allowing for the acquisition of up to 5% of its outstanding common stock over the next year. The company is exploring potential mergers and acquisitions to strengthen its market position, reflecting a strategic focus on growth. Analysts from RBC Capital Markets and Morgan Stanley (NYSE:MS) have shown interest in the company’s financial strategies and future guidance. These developments highlight Prosperity Bancshares’ continued focus on maintaining a conservative lending approach while seeking opportunities for expansion.
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