Brokerages Anticipate Prosperity Bancshares, Inc. (NYSE:PB) to Announce $1.18 EPS

Analysts forecast that Prosperity Bancshares, Inc. (NYSE:PB) will post $1.18 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Prosperity Bancshares’ earnings, with the highest EPS estimate coming in at $1.20 and the lowest estimate coming in at $1.16. Prosperity Bancshares also reported earnings of $1.18 per share during the same quarter last year. The business is expected to announce its next earnings results before the market opens on Wednesday, October 23rd.

According to Zacks, analysts expect that Prosperity Bancshares will report full year earnings of $4.74 per share for the current fiscal year, with EPS estimates ranging from $4.65 to $4.82. For the next financial year, analysts expect that the company will report earnings of $5.18 per share, with EPS estimates ranging from $5.00 to $5.38. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Prosperity Bancshares.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, July 24th. The bank reported $1.18 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.18. The firm had revenue of $184.80 million for the quarter, compared to the consensus estimate of $186.94 million. Prosperity Bancshares had a net margin of 38.27% and a return on equity of 8.12%. During the same quarter in the previous year, the company earned $1.17 EPS.

A number of research analysts have recently issued reports on PB shares. Stephens set a $74.00 price target on shares of Prosperity Bancshares and gave the stock a “hold” rating in a research report on Monday, June 17th. Zacks Investment Research downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating and set a $73.00 price target on the stock. in a research report on Thursday. Morgan Stanley dropped their price target on shares of Prosperity Bancshares from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Thursday. Raymond James upgraded shares of Prosperity Bancshares from an “underperform” rating to a “market perform” rating and set a $62.71 price target on the stock in a research report on Tuesday, June 18th. Finally, SunTrust Banks dropped their price target on shares of Prosperity Bancshares from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $72.24.

Shares of NYSE PB traded down $0.05 during midday trading on Tuesday, reaching $68.12. The stock had a trading volume of 21,776 shares, compared to its average volume of 508,794. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.45 and a beta of 1.36. Prosperity Bancshares has a twelve month low of $57.01 and a twelve month high of $75.36. The company’s 50 day moving average price is $67.20 and its 200 day moving average price is $68.33.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th were given a $0.41 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 35.57%.

In other news, EVP Robert J. Dowdell sold 7,600 shares of Prosperity Bancshares stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $65.45, for a total value of $497,420.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman H E. Timanus, Jr. acquired 10,000 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $64.39 per share, with a total value of $643,900.00. Following the purchase, the insider now directly owns 148,837 shares in the company, valued at $9,583,614.43. The disclosure for this purchase can be found here. 4.86% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in PB. Geode Capital Management LLC increased its stake in shares of Prosperity Bancshares by 8.1% in the 4th quarter. Geode Capital Management LLC now owns 652,626 shares of the bank’s stock valued at $40,658,000 after acquiring an additional 49,108 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Prosperity Bancshares by 5.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 191,761 shares of the bank’s stock valued at $13,243,000 after acquiring an additional 10,301 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Prosperity Bancshares by 22.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 291,144 shares of the bank’s stock valued at $20,106,000 after acquiring an additional 52,693 shares in the last quarter. Swiss National Bank increased its stake in shares of Prosperity Bancshares by 3.1% in the 1st quarter. Swiss National Bank now owns 120,950 shares of the bank’s stock valued at $8,353,000 after acquiring an additional 3,600 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Prosperity Bancshares in the 1st quarter valued at $993,000. Institutional investors own 84.25% of the company’s stock.

About Prosperity Bancshares

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, 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.

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Earnings History and Estimates for Prosperity Bancshares (NYSE:PB)

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