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 analysts have issued reports on the stock. FIG Partners reaffirmed a “market-perform” rating on shares of Prosperity Bancshares in a research report on Wednesday, April 24th. Zacks Investment Research downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Stephens reissued a “hold” rating and set a $76.00 price target on shares of Prosperity Bancshares in a research report on Wednesday, April 24th. Hovde Group downgraded shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating and set a $79.00 price target for the company. in a research report on Friday, March 1st. Finally, SunTrust Banks raised their price objective on Prosperity Bancshares to $84.00 and gave the stock a “buy” rating in a research note on Thursday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $75.50.

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

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