The President of Prosperity Bancshares (NYSE: PB) is Selling Shares

By Carrie Williams

Today, the President of Prosperity Bancshares (NYSE: PB), Edward Safady, sold shares of PB for $330.8K.

Following Edward Safady’s last PB Sell transaction on February 29, 2016, the stock climbed by 26.2%. This is Safady’s first Sell trade following 3 Buy transactions.

The company has a one year high of $66.54 and a one year low of $33.57. PB’s market cap is $4.58B and the company has a P/E ratio of 16.65. Currently, Prosperity Bancshares has an average volume of 420.2K.

Based on 5 analyst ratings, the analyst consensus is Hold with an average price target of $58.33, reflecting a 13.5% upside. Five different firms, including J.P. Morgan and Morgan Stanley, currently also have a Sell rating on the stock.

The insider sentiment on Prosperity Bancshares has been negative according to 35 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Prosperity Bancshares, Inc. is a holding company, which engages in the provision of financial products and solutions. It provides retail and commercial banking services such as deposits, online internet banking, loan services, investments, trust, credit card and others. It offers its products to small and medium-sized businesses and consumers. The company was founded by Tracy T. Rudolph in 1983 and is headquartered in Houston, TX.