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Ned Holmes, a director at Prosperity Bancshares Inc . (NYSE:PB), a $6.8 billion regional bank with a FAIR overall financial health score according to InvestingPro, has sold shares of the company valued at approximately $77,957, according to a recent SEC filing. The transactions, which occurred on March 19, involved multiple sales of common stock at prices ranging between $70.7607 and $71.62 per share.
Following these transactions, Holmes retains ownership of 104,315 shares directly, and additional shares through various trusts and partnerships. These sales were part of a planned trading strategy, as indicated by a 10b5-1 trading plan. Investors often monitor such filings to gauge insider sentiment and potential future performance of the company. According to InvestingPro analysis, the stock appears slightly undervalued based on its Fair Value calculation, with 12 additional exclusive insights available to subscribers.
In other recent news, Prosperity Bancshares reported impressive financial results for Q4 2024, surpassing analysts’ expectations. The company achieved an earnings per share of $1.37, exceeding the forecast of $1.34, and reported revenue of $307.61 million, which was above the anticipated $303.82 million. Prosperity Bancshares also announced a 36% year-over-year increase in net income, reaching $130 million. Additionally, the company revealed a stock repurchase program that allows for the acquisition of up to 5% of its outstanding common stock over the next year. The company’s net interest margin improved by 30 basis points to 3.05%, reflecting a strategic focus on a conservative lending approach. Analysts from RBC Capital Markets and Morgan Stanley (NYSE:MS) have shown interest in Prosperity Bancshares’ future growth, particularly in terms of net interest margin and loan growth. The company is also exploring potential mergers and acquisitions to strengthen its market position. These developments highlight Prosperity Bancshares’ continued focus on strategic growth and financial stability.
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