Prosperity Bancshares (NYSE:PB – Get Free Report) is scheduled to be releasing its earnings data before the market opens on Wednesday, April 24th. Analysts expect Prosperity Bancshares to post earnings of $1.14 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.
Prosperity Bancshares (NYSE:PB – Get Free Report) last announced its earnings results on Wednesday, January 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. The company had revenue of $413.00 million during the quarter, compared to analyst estimates of $279.34 million. Prosperity Bancshares had a net margin of 26.24% and a return on equity of 6.62%. During the same period in the previous year, the business posted $1.51 earnings per share. On average, analysts expect Prosperity Bancshares to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.
Prosperity Bancshares Trading Down 1.7 %
Shares of NYSE PB opened at $59.22 on Wednesday. Prosperity Bancshares has a 12-month low of $49.60 and a 12-month high of $68.88. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 1.22 and a beta of 0.93. The firm has a 50 day moving average of $62.73 and a 200 day moving average of $61.31.
Institutional Investors Weigh In On Prosperity Bancshares
Analyst Upgrades and Downgrades
PB has been the topic of several analyst reports. Truist Financial reaffirmed a “buy” rating and set a $75.00 price target on shares of Prosperity Bancshares in a report on Monday, April 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $70.00 price target on shares of Prosperity Bancshares in a report on Tuesday, April 9th. Raymond James lifted their price target on shares of Prosperity Bancshares from $65.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, January 5th. Morgan Stanley raised shares of Prosperity Bancshares from an “underweight” rating to an “equal weight” rating and set a $69.00 price target on the stock in a report on Wednesday, February 7th. Finally, Barclays initiated coverage on shares of Prosperity Bancshares in a report on Friday, March 8th. They set an “equal weight” rating and a $68.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.79.
View Our Latest Stock Analysis on Prosperity Bancshares
About Prosperity Bancshares
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; term loans and lines of credit; 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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