Analysts Expect Prosperity Bancshares, Inc. (NYSE:PB) Will Announce Earnings of $1.38 Per Share

Brokerages predict that Prosperity Bancshares, Inc. (NYSE:PB – Get Rating) will report $1.38 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have provided estimates for Prosperity Bancshares’ earnings, with estimates ranging from $1.33 to $1.45. Prosperity Bancshares reported earnings of $1.41 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.1%. The business is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Prosperity Bancshares will report full year 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 anticipate that the business will post earnings of $6.01 per share, with EPS estimates ranging from $5.46 to $6.37. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Prosperity Bancshares.

Prosperity Bancshares (NYSE:PB – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The bank reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. Prosperity Bancshares had a return on equity of 7.95% and a net margin of 43.64%. During the same quarter last year, the firm posted $1.44 earnings per share.

A number of research firms have recently commented on PB. StockNews.com began coverage on Prosperity Bancshares in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Wolfe Research downgraded Prosperity Bancshares from a “peer perform” rating to an “underperform” rating and dropped their price objective for the stock from $78.00 to $69.00 in a research note on Thursday, April 7th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $78.75.

Shares of PB stock 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 firm has a market cap of $6.31 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.21 and a beta of 1.08.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $2.08 dividend on an annualized basis and a yield of 3.04%. Prosperity Bancshares’s dividend payout ratio is currently 37.75%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd acquired a new position in shares of Prosperity Bancshares in the fourth quarter worth about $27,000. Marshall Wace North America L.P. acquired a new position in shares of Prosperity Bancshares in the first quarter worth about $35,000. City State Bank acquired a new position in shares of Prosperity Bancshares in the fourth quarter worth about $36,000. Artemis Wealth Advisors LLC acquired a new position in shares of Prosperity Bancshares in the first quarter worth about $39,000. Finally, Dupont Capital Management Corp acquired a new position in shares of Prosperity Bancshares in the fourth quarter worth about $49,000. Institutional investors own 80.30% 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.

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