Zacks: Analysts Anticipate Prosperity Bancshares, Inc. (NYSE:PB) to Post $1.38 EPS

Wall Street brokerages expect Prosperity Bancshares, Inc. (NYSE:PB) to report $1.38 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have issued estimates for Prosperity Bancshares’ earnings, with the lowest EPS estimate coming in at $1.31 and the highest estimate coming in at $1.45. Prosperity Bancshares reported earnings of $1.40 per share during the same quarter last year, which indicates a negative year over year growth rate of 1.4%. The firm is expected to report its next earnings results on Wednesday, October 27th.

On average, analysts expect that Prosperity Bancshares will report full year earnings of $5.58 per share for the current fiscal year, with EPS estimates ranging from $5.44 to $5.68. For the next year, analysts expect that the firm will post earnings of $5.26 per share, with EPS estimates ranging from $4.84 to $5.61. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Prosperity Bancshares.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Tuesday, July 27th. The bank reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.02. Prosperity Bancshares had a return on equity of 8.60% and a net margin of 43.00%.

A number of brokerages have commented on PB. Morgan Stanley reduced their price objective on Prosperity Bancshares from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Monday, August 2nd. Raymond James cut their price target on Prosperity Bancshares from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, July 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $75.83.

PB stock traded up $0.61 during trading on Wednesday, reaching $66.17. 2,556 shares of the stock traded hands, compared to its average volume of 393,316. The business’s 50 day moving average price is $69.36 and its 200-day moving average price is $73.13. The firm has a market capitalization of $6.15 billion, a PE ratio of 11.57, a P/E/G ratio of 1.20 and a beta of 1.29. Prosperity Bancshares has a 52-week low of $48.80 and a 52-week high of $83.02.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 15th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Tuesday, September 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 35.38%.

In other news, Director Robert H. Steelhammer sold 1,075 shares of the company’s stock in a transaction that occurred on Wednesday, June 23rd. The stock was sold at an average price of $71.94, for a total transaction of $77,335.50. Following the completion of the transaction, the director now directly owns 135,355 shares of the company’s stock, valued at $9,737,438.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.17% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. FORA Capital LLC acquired a new position in shares of Prosperity Bancshares in the first quarter worth $26,000. First Mercantile Trust Co. acquired a new position in Prosperity Bancshares during the first quarter worth $27,000. Marshall Wace North America L.P. acquired a new stake in shares of Prosperity Bancshares in the first quarter valued at about $35,000. First Horizon Advisors Inc. grew its position in shares of Prosperity Bancshares by 235.5% in the first quarter. First Horizon Advisors Inc. now owns 661 shares of the bank’s stock valued at $49,000 after purchasing an additional 464 shares during the last quarter. Finally, TCTC Holdings LLC bought a new stake in shares of Prosperity Bancshares in the first quarter valued at about $66,000. Institutional investors own 78.13% of the company’s stock.

About Prosperity Bancshares

Prosperity Bancshares, Inc is a holding company, which engages in the provision of financial products and solutions. It offers retail and commercial banking services such as deposits, online Internet banking, loan services, investments, trust, and credit card to small and medium-sized businesses and consumers.

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

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