Analysts Expect Prosperity Bancshares, Inc. (PB) to Announce $1.18 Earnings Per Share

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Wall Street analysts predict that Prosperity Bancshares, Inc. (NYSE:PB) will report earnings of $1.18 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Prosperity Bancshares’ earnings, with the lowest EPS estimate coming in at $1.16 and the highest estimate coming in at $1.20. Prosperity Bancshares posted earnings per share of $1.17 in the same quarter last year, which would indicate a positive year over year growth rate of 0.9%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, July 24th.

On average, analysts expect that Prosperity Bancshares will report full year earnings of $4.80 per share for the current year, with EPS estimates ranging from $4.75 to $4.89. For the next fiscal year, analysts anticipate that the firm will post earnings of $5.04 per share, with EPS estimates ranging from $4.89 to $5.16. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover Prosperity Bancshares.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, April 24th. The bank reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.01. Prosperity Bancshares had a net margin of 38.42% and a return on equity of 8.20%. The business had revenue of $183.06 million for the quarter, compared to analyst estimates of $185.27 million. During the same period in the prior year, the business posted $1.07 earnings per share.

Several brokerages recently weighed in on PB. FIG Partners restated a “market-perform” rating on shares of Prosperity Bancshares in a report on Wednesday, April 24th. Stephens restated a “hold” rating and issued a $76.00 price objective on shares of Prosperity Bancshares in a report on Wednesday, April 24th. Zacks Investment Research lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, April 3rd. Hovde Group lowered shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating and set a $79.00 price objective on the stock. in a report on Friday, March 1st. Finally, SunTrust Banks upped their target price on shares of Prosperity Bancshares to $84.00 and gave the company a “buy” rating in a research note on Thursday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $75.50.

NYSE PB traded down $0.06 during trading hours on Friday, hitting $70.06. The company’s stock had a trading volume of 938 shares, compared to its average volume of 250,951. Prosperity Bancshares has a twelve month low of $57.01 and a twelve month high of $76.92. The firm has a market capitalization of $4.84 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.70 and a beta of 1.39.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, June 13th. Prosperity Bancshares’s payout ratio is presently 35.57%.

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in Prosperity Bancshares by 0.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 332,184 shares of the bank’s stock worth $23,036,000 after purchasing an additional 2,395 shares in the last quarter. Teachers Advisors LLC lifted its holdings in Prosperity Bancshares by 8.8% during the 3rd quarter. Teachers Advisors LLC now owns 84,555 shares of the bank’s stock worth $5,864,000 after buying an additional 6,819 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Prosperity Bancshares by 21.6% during the 3rd quarter. Nordea Investment Management AB now owns 139,512 shares of the bank’s stock worth $9,676,000 after buying an additional 24,810 shares during the last quarter. Vanguard Group Inc lifted its holdings in Prosperity Bancshares by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 6,511,344 shares of the bank’s stock worth $451,561,000 after buying an additional 90,531 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Prosperity Bancshares by 7.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 30,300 shares of the bank’s stock worth $1,888,000 after buying an additional 2,200 shares during the last quarter. 83.04% of the stock is owned by hedge funds and other institutional investors.

About Prosperity Bancshares

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; and consumer durables and home equity loans.

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Earnings History and Estimates for Prosperity Bancshares (NYSE:PB)

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