Durable Goods (Jun F) -9.4% vs 9.3% Prior, Ex-Trans 0.2% vs 0.2%
Ned Holmes, a director at Prosperity Bancshares Inc . (NYSE:PB), a $6.8 billion regional bank trading at 14.2 times earnings, recently sold shares of the company’s common stock totaling $79,397, according to a recent SEC filing. InvestingPro analysis indicates the stock is currently trading near its Fair Value. The transactions occurred on March 26, 2025, with sales prices ranging from $71.89 to $72.807 per share.
Holmes executed multiple sales, including 371 shares sold at a weighted average price of $71.89, 129 shares at $72.7983, and 318 shares at $71.9661. Additional transactions included 182 shares at $72.7063, 71 shares at $71.9182, and 29 shares at $72.807. Following these transactions, Holmes maintains ownership of various holdings, including 103,815 shares directly and others through indirect means such as trusts and partnerships.
In other recent news, Prosperity Bancshares reported impressive financial results for the fourth quarter of 2024, exceeding analysts’ expectations. The company achieved earnings per share of $1.37, surpassing the anticipated $1.34, while revenue reached $307.61 million, above the forecasted $303.82 million. Net income experienced a significant year-over-year increase of 36%, totaling $130 million. Additionally, Prosperity Bancshares announced a stock repurchase program, allowing the acquisition of up to 5% of its outstanding common stock over the next year. The company has also expressed interest in exploring mergers and acquisitions to enhance its market position. Analysts from firms like Morgan Stanley (NYSE:MS) and RBC Capital Markets have shown interest in the company’s strategic direction and financial health. Prosperity Bancshares is focused on maintaining a conservative investment strategy and anticipates continued growth in its net interest margin for 2025.
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