📈 Will you get serious about investing in 2025? Take the first step with 50% off InvestingProClaim Offer

Prosperity Bancshares director Ned Holmes sells $83,640 in stock

Published 12/30/2024, 12:19 PM
PB
-

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.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.