Prosperity Bancshares, Inc. Expected to Post Q3 2017 Earnings of $1.01 Per Share (NYSE:PB)
Prosperity Bancshares, Inc. (NYSE:PB) – Stock analysts at Wedbush issued their Q3 2017 EPS estimates for shares of Prosperity Bancshares in a report issued on Thursday. Wedbush analyst P. Winter forecasts that the bank will post earnings per share of $1.01 for the quarter. Wedbush currently has a “Neutral” rating and a $67.00 target price on the stock. Wedbush also issued estimates for Prosperity Bancshares’ Q4 2017 earnings at $1.03 EPS, Q1 2018 earnings at $1.03 EPS, Q2 2018 earnings at $1.04 EPS, Q3 2018 earnings at $1.07 EPS and Q4 2018 earnings at $1.08 EPS.
Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Prosperity Bancshares from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. Piper Jaffray Companies restated a “hold” rating and issued a $73.50 target price on shares of Prosperity Bancshares in a report on Friday, July 14th. Zacks Investment Research cut shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. UBS AG cut shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating in a report on Thursday, April 6th. Finally, Keefe, Bruyette & Woods cut shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $81.00 to $76.00 in a report on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company. Prosperity Bancshares presently has an average rating of “Hold” and a consensus price target of $71.17.
TRADEMARK VIOLATION WARNING: “Prosperity Bancshares, Inc. Expected to Post Q3 2017 Earnings of $1.01 Per Share (NYSE:PB)” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another website, it was illegally stolen and reposted in violation of US and international copyright legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/08/10/prosperity-bancshares-inc-expected-to-post-q3-2017-earnings-of-1-01-per-share-nysepb-updated.html.
Shares of Prosperity Bancshares (NYSE:PB) opened at 63.52 on Monday. The stock has a 50 day moving average of $64.79 and a 200-day moving average of $68.49. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 16.08 and a beta of 1.33. Prosperity Bancshares has a 1-year low of $49.46 and a 1-year high of $77.87.
Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Wednesday, July 26th. The bank reported $0.99 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.01. Prosperity Bancshares had a net margin of 35.20% and a return on equity of 7.49%. The firm had revenue of $180.01 million during the quarter, compared to the consensus estimate of $187.13 million. During the same period in the prior year, the company posted $0.98 earnings per share.
Hedge funds have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. boosted its stake in Prosperity Bancshares by 0.6% in the first quarter. Envestnet Asset Management Inc. now owns 7,026 shares of the bank’s stock valued at $489,000 after buying an additional 40 shares during the period. Sigma Planning Corp boosted its stake in Prosperity Bancshares by 0.9% in the first quarter. Sigma Planning Corp now owns 5,225 shares of the bank’s stock valued at $364,000 after buying an additional 47 shares during the period. World Asset Management Inc boosted its stake in Prosperity Bancshares by 1.8% in the first quarter. World Asset Management Inc now owns 4,265 shares of the bank’s stock valued at $297,000 after buying an additional 77 shares during the period. Bank of Montreal Can boosted its stake in Prosperity Bancshares by 0.5% in the second quarter. Bank of Montreal Can now owns 20,975 shares of the bank’s stock valued at $1,348,000 after buying an additional 98 shares during the period. Finally, Albert D Mason Inc. boosted its stake in Prosperity Bancshares by 0.4% in the first quarter. Albert D Mason Inc. now owns 32,746 shares of the bank’s stock valued at $2,283,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 75.43% of the company’s stock.
In related news, Director Robert H. Steelhammer sold 10,000 shares of Prosperity Bancshares stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $65.10, for a total value of $651,000.00. Following the sale, the director now owns 156,800 shares in the company, valued at $10,207,680. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert H. Steelhammer sold 4,000 shares of Prosperity Bancshares stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $64.35, for a total transaction of $257,400.00. Following the completion of the sale, the director now owns 147,800 shares in the company, valued at approximately $9,510,930. The disclosure for this sale can be found here. Insiders own 4.93% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, September 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 34.34%.
Prosperity Bancshares Company Profile
Prosperity Bancshares, Inc is a financial holding company, which 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, through the Bank, offers a range of loan and deposit products to its customers.
Receive News & Stock Ratings for Prosperity Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prosperity Bancshares Inc. and related stocks with our FREE daily email newsletter.