Equities analysts expect Prosperity Bancshares, Inc. (NYSE:PB) to report earnings per share of $1.00 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Prosperity Bancshares’ earnings, with estimates ranging from $0.99 to $1.02. Prosperity Bancshares posted earnings per share of $0.99 during the same quarter last year, which would indicate a positive year-over-year growth rate of 1%. The company is scheduled to report its next quarterly earnings results on Wednesday, January 24th.
On average, analysts expect that Prosperity Bancshares will report full-year earnings of $3.95 per share for the current fiscal year, with EPS estimates ranging from $3.93 to $3.99. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.13 per share, with EPS estimates ranging from $3.98 to $4.21. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Prosperity Bancshares.
Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, October 25th. The bank reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. Prosperity Bancshares had a return on equity of 7.38% and a net margin of 34.79%. The company had revenue of $184.96 million for the quarter, compared to analysts’ expectations of $185.59 million. During the same period in the previous year, the firm posted $0.99 EPS.
PB has been the topic of several research analyst reports. SunTrust Banks reiterated a “buy” rating and issued a $73.00 price objective on shares of Prosperity Bancshares in a report on Monday, October 2nd. ValuEngine cut Prosperity Bancshares from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Zacks Investment Research upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Royal Bank Of Canada reiterated a “hold” rating and issued a $71.00 price objective on shares of Prosperity Bancshares in a report on Friday, September 8th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $73.00 target price on shares of Prosperity Bancshares in a report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. Prosperity Bancshares has a consensus rating of “Hold” and an average target price of $71.05.
In other news, Director Robert H. Steelhammer sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the transaction, the director now directly owns 137,800 shares in the company, valued at approximately $8,268,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.93% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board acquired a new position in Prosperity Bancshares in the third quarter valued at approximately $105,000. Huntington National Bank lifted its holdings in Prosperity Bancshares by 9.2% in the second quarter. Huntington National Bank now owns 1,689 shares of the bank’s stock valued at $109,000 after acquiring an additional 143 shares during the last quarter. Pacad Investment Ltd. acquired a new position in Prosperity Bancshares in the second quarter valued at approximately $109,000. PNC Financial Services Group Inc. lifted its holdings in Prosperity Bancshares by 8.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,424 shares of the bank’s stock valued at $156,000 after acquiring an additional 185 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Prosperity Bancshares by 17.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,489 shares of the bank’s stock valued at $160,000 after acquiring an additional 369 shares during the last quarter. Hedge funds and other institutional investors own 76.92% of the company’s stock.
Prosperity Bancshares (NYSE:PB) traded up $0.19 during mid-day trading on Tuesday, reaching $65.24. The company had a trading volume of 168,600 shares, compared to its average volume of 466,347. Prosperity Bancshares has a 12 month low of $55.84 and a 12 month high of $77.87. The firm has a market cap of $4,530.00, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.65 and a beta of 1.36.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a dividend of $0.36 per share. This is a boost from Prosperity Bancshares’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Thursday, December 14th. Prosperity Bancshares’s payout ratio is currently 34.52%.
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Prosperity Bancshares Company Profile
Prosperity Bancshares, Inc is a financial holding company, which operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. The Company, through the Bank, offers a range of loan and deposit products to its customers.
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