Q3 EPS Estimate for Prosperity Bancshares Cut by Analyst

Prosperity Bancshares, Inc. (NYSE:PB) – Investment analysts at Zacks Research cut their Q3 2027 EPS estimates for Prosperity Bancshares in a report issued on Wednesday, November 19th. Zacks Research analyst Team now anticipates that the bank will earn $1.72 per share for the quarter, down from their previous estimate of $1.76. The consensus estimate for Prosperity Bancshares’ current full-year earnings is $5.83 per share. Zacks Research also issued estimates for Prosperity Bancshares’ FY2027 earnings at $6.79 EPS.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, October 29th. The bank reported $1.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.45. Prosperity Bancshares had a return on equity of 7.06% and a net margin of 30.28%.The company had revenue of $314.67 million during the quarter, compared to analyst estimates of $317.94 million. During the same quarter last year, the company earned $1.34 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis.

Several other research analysts have also recently weighed in on the stock. Barclays decreased their price objective on shares of Prosperity Bancshares from $85.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 11th. Cowen restated a “buy” rating on shares of Prosperity Bancshares in a research report on Friday, October 31st. Hovde Group cut their target price on shares of Prosperity Bancshares from $83.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Prosperity Bancshares in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada dropped their price target on Prosperity Bancshares from $78.00 to $72.00 and set a “sector perform” rating for the company in a research note on Friday, October 10th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Prosperity Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $80.21.

Prosperity Bancshares Stock Up 3.3%

NYSE:PB opened at $68.17 on Friday. The stock has a market cap of $6.48 billion, a P/E ratio of 12.15, a PEG ratio of 0.97 and a beta of 0.75. The business’s 50-day moving average price is $65.47 and its two-hundred day moving average price is $68.22. Prosperity Bancshares has a twelve month low of $61.06 and a twelve month high of $86.75.

Prosperity Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be paid a $0.60 dividend. This is a boost from Prosperity Bancshares’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.5%. Prosperity Bancshares’s dividend payout ratio is presently 42.78%.

Insiders Place Their Bets

In related news, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $65.57, for a total transaction of $32,785.00. Following the transaction, the director directly owned 88,415 shares in the company, valued at $5,797,371.55. This trade represents a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 14,300 shares of company stock worth $948,416. Corporate insiders own 4.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mather Group LLC. bought a new stake in Prosperity Bancshares during the 3rd quarter valued at $26,000. Community Bank N.A. bought a new position in shares of Prosperity Bancshares during the third quarter valued at about $29,000. Steph & Co. bought a new position in shares of Prosperity Bancshares during the second quarter valued at about $38,000. Danske Bank A S purchased a new stake in shares of Prosperity Bancshares during the third quarter worth about $40,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Prosperity Bancshares in the third quarter worth about $42,000. 80.69% of the stock is owned by hedge funds and other institutional investors.

Prosperity Bancshares Company Profile

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.