Analysts expect Prosperity Bancshares, Inc. (NYSE:PB) to report earnings of $1.38 per share
The brokerages predict that Prosperity Bancshares, Inc. (NYSE: PB – Get Rating) will report $1.38 in earnings per share (EPS) for the current quarter, according to Zacks. Five analysts provided earnings estimates for Prosperity Bancshares, with estimates ranging from $1.33 to $1.45. Prosperity Bancshares reported earnings of $1.41 per share in the same quarter last year, suggesting a negative 2.1% year-over-year growth rate. The company is expected to release its next quarterly earnings report on Monday, January 1.
According to Zacks, analysts expect Prosperity Bancshares to report annual earnings of $5.62 per share for the current fiscal year, with EPS estimates ranging from $5.28 to $5.92. For the next fiscal year, analysts expect the company to post earnings of $6.01 per share, with EPS estimates ranging from $5.46 to $6.37. Zacks EPS averages are an average average based on a survey of sell-side analysts who cover Prosperity Bancshares.
Prosperity Bancshares (NYSE:PB – Get Rating) last announced its quarterly results on Wednesday April 27. The bank reported earnings per share (EPS) of $1.33 for the quarter, beating analysts’ consensus estimate of $1.31 by $0.02. Prosperity Bancshares had a return on equity of 7.95% and a net margin of 43.64%. In the same quarter last year, the company posted earnings per share of $1.44.
A number of research companies have recently commented on the PB. StockNews.com began covering Prosperity Bancshares in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Wolfe Research downgraded Prosperity Bancshares from a “peer performing” rating to an “underperforming” rating and lowered its price target for the stock from $78.00 to $69.00 in a note. research on Thursday, April 7. One research analyst has rated the stock with a sell rating and four have assigned the stock a hold rating. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $78.75.
Shares of PB opened at $68.52 on Friday. Prosperity Bancshares has a 1-year low of $64.40 and a 1-year high of $80.46. The stock’s fifty-day simple moving average is $69.18. The company has a market capitalization of $6.31 billion, a price/earnings ratio of 12.44, a PEG ratio of 1.21 and a beta of 1.08.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 1. Investors of record on Wednesday, June 15 will receive a dividend of $0.52. The ex-dividend date is Tuesday, June 14. This represents a dividend of $2.08 on an annualized basis and a yield of 3.04%. Prosperity Bancshares’ dividend payout ratio is currently 37.75%.
Institutional investors and hedge funds have recently changed their positions in the company. Covestor Ltd acquired a new position in shares of Prosperity Bancshares in the fourth quarter worth approximately $27,000. Marshall Wace North America LP acquired a new position in shares of Prosperity Bancshares in the first quarter worth approximately $35,000. City State Bank acquired a new stock position in Prosperity Bancshares in the fourth quarter worth approximately $36,000. Artemis Wealth Advisors LLC acquired a new position in shares of Prosperity Bancshares in the first quarter worth approximately $39,000. Finally, Dupont Capital Management Corp acquired a new position in shares of Prosperity Bancshares in the fourth quarter worth approximately $49,000. Institutional investors hold 80.30% of the company’s shares.
About Prosperity Bancshares (Get an evaluation)
Prosperity Bancshares, Inc operates as a bank holding company for Prosperity Bank which provides financial products and services to businesses and consumers. It accepts various deposit products, such as current, savings, money market and term accounts, as well as certificates of deposit. The company also offers 1-4 family residential mortgages, commercial and multi-family residential, commercial and industrial, agricultural and non-real estate mortgages, as well as loans for construction, land development and other land loans. ; consumer loans, including secured loans for automobiles, recreational vehicles, boats, home improvement, personal and deposit accounts; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and the purchase of equipment and machinery.
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