Prosperity Bancshares (PB) Set to Announce Quarterly Earnings on Wednesday

Prosperity Bancshares (NYSE:PBGet Rating) will be posting its quarterly earnings results before the market opens on Wednesday, April 27th. Analysts expect Prosperity Bancshares to post earnings of $1.29 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Prosperity Bancshares (NYSE:PBGet Rating) last announced its quarterly earnings results on Wednesday, January 26th. The bank reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.01. Prosperity Bancshares had a net margin of 43.75% and a return on equity of 8.21%. The firm had revenue of $280.52 million during the quarter, compared to analysts’ expectations of $278.99 million. During the same quarter in the prior year, the company earned $1.48 EPS. On average, analysts expect Prosperity Bancshares to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Shares of PB opened at $68.90 on Wednesday. The stock has a 50 day simple moving average of $71.03. Prosperity Bancshares has a fifty-two week low of $64.40 and a fifty-two week high of $80.46. The stock has a market cap of $6.35 billion, a PE ratio of 12.26, a PEG ratio of 1.23 and a beta of 1.12.

Several research analysts recently commented on PB shares. StockNews.com started coverage on shares of Prosperity Bancshares in a research note on Thursday, March 31st. They set a “hold” rating for the company. Wolfe Research lowered shares of Prosperity Bancshares from a “peer perform” rating to an “underperform” rating and reduced their price objective for the stock from $78.00 to $69.00 in a research note on Thursday, April 7th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $78.75.

Institutional investors have recently modified their holdings of the business. OLD Mission Capital LLC acquired a new position in Prosperity Bancshares during the 3rd quarter valued at approximately $1,556,000. BlackRock Inc. boosted its holdings in shares of Prosperity Bancshares by 0.8% in the 4th quarter. BlackRock Inc. now owns 7,968,356 shares of the bank’s stock valued at $576,113,000 after acquiring an additional 61,625 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Prosperity Bancshares by 40.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 393,990 shares of the bank’s stock valued at $28,485,000 after acquiring an additional 114,034 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Prosperity Bancshares by 0.4% in the 4th quarter. Parametric Portfolio Associates LLC now owns 341,240 shares of the bank’s stock valued at $24,672,000 after acquiring an additional 1,403 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Prosperity Bancshares by 23.8% in the 4th quarter. Sei Investments Co. now owns 179,367 shares of the bank’s stock valued at $12,973,000 after acquiring an additional 34,509 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

About Prosperity Bancshares (Get Rating)

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, 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, as well as loans for working capital, business expansion, and purchase of equipment and machinery.

See Also

Earnings History for Prosperity Bancshares (NYSE:PB)

Receive News & Ratings for Prosperity Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prosperity Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.