Q3 2016 EPS Estimates for Prosperity Bancshares Inc. (PB) Decreased by FBR & Co
Prosperity Bancshares Inc. (NYSE:PB) – Stock analysts at FBR & Co lowered their Q3 2016 earnings per share (EPS) estimates for Prosperity Bancshares in a report issued on Monday. FBR & Co analyst S. Moss now forecasts that the firm will post earnings of $0.97 per share for the quarter, down from their prior estimate of $1.00. FBR & Co currently has a “Outperform” rating and a $60.00 target price on the stock. FBR & Co also issued estimates for Prosperity Bancshares’ Q4 2016 earnings at $0.98 EPS, FY2016 earnings at $3.91 EPS, Q1 2017 earnings at $0.96 EPS, Q2 2017 earnings at $0.98 EPS, Q3 2017 earnings at $1.03 EPS, Q4 2017 earnings at $1.04 EPS, FY2017 earnings at $4.01 EPS, Q1 2018 earnings at $1.02 EPS, Q2 2018 earnings at $1.05 EPS, Q3 2018 earnings at $1.11 EPS and FY2018 earnings at $4.29 EPS.
Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. Wedbush assumed coverage on Prosperity Bancshares in a report on Thursday, October 6th. They issued a “neutral” rating and a $54.00 price target on the stock. SunTrust Banks Inc. assumed coverage on Prosperity Bancshares in a report on Thursday, October 6th. They issued a “neutral” rating on the stock. Deutsche Bank AG boosted their price target on Prosperity Bancshares from $54.00 to $59.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Hovde Group raised Prosperity Bancshares from a “market perform” rating to an “outperform” rating and set a $54.00 price target on the stock in a report on Wednesday, June 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Prosperity Bancshares currently has a consensus rating of “Hold” and an average price target of $52.08.
Shares of Prosperity Bancshares (NYSE:PB) traded down 4.36% on Thursday, hitting $53.05. 107,984 shares of the stock traded hands. Prosperity Bancshares has a 52-week low of $33.57 and a 52-week high of $57.04. The firm has a market cap of $3.69 billion, a PE ratio of 13.36 and a beta of 1.29. The firm has a 50 day moving average price of $54.43 and a 200 day moving average price of $51.69.
Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, July 27th. The company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by $0.01. Prosperity Bancshares had a return on equity of 7.99% and a net margin of 34.93%. During the same quarter in the prior year, the firm posted $1.03 earnings per share.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Friday, September 16th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend was Wednesday, September 14th. Prosperity Bancshares’s dividend payout ratio is currently 30.15%.
In other news, Director Perry Mueller, Jr. sold 13,536 shares of the stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $54.00, for a total transaction of $730,944.00. Following the transaction, the director now owns 6,723 shares of the company’s stock, valued at approximately $363,042. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert H. Steelhammer sold 2,900 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $54.00, for a total value of $156,600.00. Following the transaction, the director now directly owns 160,800 shares in the company, valued at approximately $8,683,200. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of PB. Jacobs Levy Equity Management Inc. increased its position in Prosperity Bancshares by 11.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 32,710 shares of the company’s stock worth $1,517,000 after buying an additional 3,480 shares during the last quarter. Hancock Holding Co. increased its position in Prosperity Bancshares by 1.3% in the first quarter. Hancock Holding Co. now owns 158,545 shares of the company’s stock worth $7,355,000 after buying an additional 2,060 shares during the last quarter. Geode Capital Management LLC increased its position in Prosperity Bancshares by 3.5% in the first quarter. Geode Capital Management LLC now owns 428,570 shares of the company’s stock worth $19,881,000 after buying an additional 14,530 shares during the last quarter. Loomis Sayles & Co. L P increased its position in Prosperity Bancshares by 5.6% in the first quarter. Loomis Sayles & Co. L P now owns 996,508 shares of the company’s stock worth $46,228,000 after buying an additional 52,678 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Prosperity Bancshares by 23.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,893,919 shares of the company’s stock worth $87,859,000 after buying an additional 361,881 shares during the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.
Prosperity Bancshares Company Profile
Prosperity Bancshares, Inc is a financial holding company. The Company operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. The Company’s additional products and services include trust services, brokerage, mortgage lending, credit card and independent sales organization (ISO) sponsorship operations.
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