Yahoo Finance Kevin Hanigan Is The President of Prosperity Bancshares, Inc. (NYSE:PB) And They Just Spent US$509k On Shares
Prosperity Bancshares, Inc. (NYSE:PB) shareholders (or potential shareholders) will be happy to see that the President, Kevin Hanigan, recently bought a whopping US$509k worth of stock, at a price of US$50.89. While that only increased their holding size by 6.1%, it is still a big swing by our standards.
See our latest analysis for Prosperity Bancshares
Prosperity Bancshares Insider Transactions Over The Last Year
Chairman of the Board H. Timanus made the biggest insider purchase in the last 12 months. That single transaction was for US$644k worth of shares at a price of US$64.75 each. That means that even when the share price was higher than US$50.81 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. In our view, the price an insider pays for shares is very important. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.
Happily, we note that in the last year insiders paid US$1.4m for 23.30k shares. But insiders sold 9416 shares worth US$625k. In the last twelve months there was more buying than selling by Prosperity Bancshares insiders. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
Prosperity Bancshares is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Does Prosperity Bancshares Boast High Insider Ownership?
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. Prosperity Bancshares insiders own 4.1% of the company, currently worth about US$196m based on the recent share price. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.
So What Do The Prosperity Bancshares Insider Transactions Indicate?
It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Prosperity Bancshares. Nice! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Prosperity Bancshares. You'd be interested to know, that we found 2 warning signs for Prosperity Bancshares and we suggest you have a look.
But note: Prosperity Bancshares may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
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