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.

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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.

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

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