Prosperity Bancshares, Inc. (NYSE:PB) – Stock analysts at Wedbush boosted their Q2 2020 EPS estimates for shares of Prosperity Bancshares in a note issued to investors on Monday, June 29th. Wedbush analyst P. Winter now expects that the bank will earn $1.24 per share for the quarter, up from their prior forecast of $1.20. Wedbush currently has a “Neutral” rating and a $72.00 target price on the stock. Wedbush also issued estimates for Prosperity Bancshares’ Q3 2020 earnings at $1.30 EPS, Q4 2020 earnings at $1.26 EPS and Q1 2021 earnings at $1.21 EPS.
Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, April 29th. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.19. The business had revenue of $290.42 million for the quarter, compared to the consensus estimate of $281.40 million. Prosperity Bancshares had a net margin of 35.42% and a return on equity of 8.32%. During the same quarter last year, the company posted $1.18 earnings per share.
Shares of Prosperity Bancshares stock opened at $59.38 on Tuesday. The company’s fifty day simple moving average is $61.72 and its 200-day simple moving average is $62.78. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.08 and a beta of 1.45. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.02. Prosperity Bancshares has a 1 year low of $42.02 and a 1 year high of $75.22.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, June 12th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.10%. Prosperity Bancshares’s payout ratio is presently 36.65%.
Institutional investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. bought a new position in shares of Prosperity Bancshares in the first quarter valued at about $35,000. Sowell Financial Services LLC raised its holdings in shares of Prosperity Bancshares by 79.4% in the first quarter. Sowell Financial Services LLC now owns 678 shares of the bank’s stock valued at $33,000 after buying an additional 300 shares during the last quarter. KBC Group NV bought a new position in shares of Prosperity Bancshares in the fourth quarter valued at about $62,000. Bartlett & Co. LLC bought a new position in shares of Prosperity Bancshares in the first quarter valued at about $51,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in Prosperity Bancshares by 24.2% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,246 shares of the bank’s stock worth $60,000 after purchasing an additional 243 shares during the last quarter. 80.41% of the stock is owned by institutional investors and hedge funds.
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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