Prosperity Bancshares director Ned Holmes sells $82,785 in inventory

Ned S. Holmes, a director at Prosperity Bancshares Inc . (NYSE:PB), a $7.26 billion regional financial institution that has raised dividends for 17 consecutive years, just lately offered shares of the corporate’s frequent inventory, based on a submitting with the Securities and Alternate Fee. Holmes offered a complete of 1,100 shares on January 2, 2025, producing proceeds of roughly $82,785. The shares had been offered at costs starting from $74.9863 to $75.8625. The transaction comes because the inventory has gained over 28% up to now six months, although InvestingPro evaluation suggests the shares stay undervalued. Following these transactions, Holmes retains possession of 109,815 shares instantly, with further holdings by way of numerous trusts and partnerships. For complete insider buying and selling evaluation and extra ProTips, discover the detailed Professional Analysis Report out there on InvestingPro.

In different current information, Prosperity Bancshares has reported a positive monetary efficiency for the third quarter of 2024, with a internet earnings of $127 million, marking a rise from the earlier yr’s $112 million. The corporate additionally declared a dividend enhance to $0.58 per share for This fall 2024, up from $0.56, reflecting confidence in its monetary stability. The web curiosity margin noticed enchancment, and the corporate is anticipating continued progress, partly on account of demographic traits in Texas and potential strategic mergers. Nevertheless, income decreased to $140.3 million from $152.8 million within the earlier quarter, and non-interest bills rose on account of merger-related prices. Regardless of these challenges, Prosperity Bancshares stays open to potential mergers and acquisitions, and expects non-interest bills between $141 million and $143 million for This fall 2024.

This text was generated with the help of AI and reviewed by an editor. For extra info see our T&C.