Prosperity Bancshares, Inc. (PB) Expected to Announce Earnings of $1.18 Per Share
Analysts predict that Prosperity Bancshares, Inc. (NYSE:PB) will post earnings per share of $1.18 for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Prosperity Bancshares’ earnings. The highest EPS estimate is $1.20 and the lowest is $1.16. Prosperity Bancshares posted earnings per share of $1.17 during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.9%. The company is scheduled to report its next earnings results on Wednesday, July 24th.
According to Zacks, analysts expect that Prosperity Bancshares will report full year earnings of $4.80 per share for the current year, with EPS estimates ranging from $4.75 to $4.89. For the next fiscal year, analysts forecast that the company will report earnings of $5.04 per share, with EPS estimates ranging from $4.89 to $5.16. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that follow Prosperity Bancshares.
Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, April 24th. The bank reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.01. Prosperity Bancshares had a net margin of 38.42% and a return on equity of 8.20%. The firm had revenue of $183.06 million for the quarter, compared to analyst estimates of $185.27 million. During the same quarter last year, the firm posted $1.07 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund grew its holdings in Prosperity Bancshares by 5,839.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,642,789 shares of the bank’s stock worth $26,000 after acquiring an additional 1,615,129 shares during the period. First Mercantile Trust Co. increased its stake in Prosperity Bancshares by 62.9% in the 4th quarter. First Mercantile Trust Co. now owns 570 shares of the bank’s stock worth $35,000 after purchasing an additional 220 shares in the last quarter. Marshall Wace North America L.P. purchased a new position in Prosperity Bancshares in the 1st quarter worth about $35,000. Captrust Financial Advisors grew its stake in Prosperity Bancshares by 513.1% during the 4th quarter. Captrust Financial Advisors now owns 607 shares of the bank’s stock valued at $38,000 after acquiring an additional 508 shares in the last quarter. Finally, Rockefeller Capital Management L.P. purchased a new position in Prosperity Bancshares during the 1st quarter valued at about $47,000. Institutional investors and hedge funds own 83.04% of the company’s stock.
NYSE PB traded up $0.45 during mid-day trading on Friday, hitting $70.02. The company’s stock had a trading volume of 60,109 shares, compared to its average volume of 243,405. Prosperity Bancshares has a 52-week low of $57.01 and a 52-week high of $76.92. The firm has a market capitalization of $4.86 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 1.70 and a beta of 1.39.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, June 13th. Prosperity Bancshares’s dividend payout ratio is currently 35.57%.
Prosperity Bancshares Company Profile
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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