Following these transactions, Holmes retains direct ownership of 110,315 shares and indirect ownership through various trusts and plans, including holdings by a profit-sharing plan, as trustee for family trusts, and by a limited partnership. These transactions were conducted under a pre-arranged trading plan, as noted in the filing. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with additional insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of this and 1,400+ other US stocks. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with additional insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of this and 1,400+ other US stocks.
Following these transactions, Holmes retains direct ownership of 110,315 shares and indirect ownership through various trusts and plans, including holdings by a profit-sharing plan, as trustee for family trusts, and by a limited partnership. These transactions were conducted under a pre-arranged trading plan, as noted in the filing.
In other recent news, Prosperity Bancshares (NYSE:PB) has demonstrated financial growth and stability in its Q3 2024 earnings call. The bank reported a net income of $127 million, marking an increase from the prior year's $112 million. Additionally, the company announced a dividend increase to $0.58 per share for Q4 2024, up from $0.56, signaling confidence in its financial stability.
The company's net interest margin also saw improvement, and it anticipates continued growth, partly due to demographic trends in Texas and potential strategic mergers. Despite a decrease in revenue to $140.3 million from $152.8 million in the previous quarter, loan production averaged $259 million, with total loans outstanding at $22.381 billion.
Recent developments include an efficiency ratio improvement to 46.9% from 51.8% in the prior quarter and the addition of a new customer resulting in $140 million of new commitments. The company maintains a focus on potential mergers and acquisitions and expects non-interest expenses between $141 million and $143 million for Q4 2024. Prosperity Bancshares targets a net interest margin of 3% by the end of 2024, with projections increasing to 3.27% for 2025 and 3.65% for 2026, assuming stable interest rates.
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