Wall Street analysts expect that Prosperity Bancshares, Inc. (NYSE:PB – Get Rating) will announce $282.84 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Prosperity Bancshares’ earnings, with the lowest sales estimate coming in at $280.90 million and the highest estimate coming in at $284.00 million. Prosperity Bancshares posted sales of $280.96 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0.7%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Prosperity Bancshares will report full year sales of $1.14 billion for the current fiscal year, with estimates ranging from $1.12 billion to $1.16 billion. For the next fiscal year, analysts expect that the company will post sales of $1.23 billion, with estimates ranging from $1.21 billion to $1.27 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Prosperity Bancshares.
Prosperity Bancshares (NYSE:PB – Get Rating) last issued its quarterly earnings results on Wednesday, April 27th. The bank reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.02. Prosperity Bancshares had a return on equity of 7.95% and a net margin of 43.64%. During the same quarter in the previous year, the company posted $1.44 earnings per share.
Several research analysts have recently weighed in on the company. Wolfe Research lowered their target price on Prosperity Bancshares from $69.00 to $63.00 and set an “underperform” rating on the stock in a report on Thursday. StockNews.com assumed coverage on Prosperity Bancshares in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $77.25.
Shares of Prosperity Bancshares stock opened at $72.61 on Friday. Prosperity Bancshares has a twelve month low of $64.40 and a twelve month high of $80.46. The business has a 50-day moving average price of $68.59 and a 200 day moving average price of $72.03. The firm has a market cap of $6.69 billion, a PE ratio of 13.18, a P/E/G ratio of 1.24 and a beta of 1.08.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 15th will be issued a $0.52 dividend. The ex-dividend date is Tuesday, June 14th. This represents a $2.08 dividend on an annualized basis and a yield of 2.86%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 37.75%.
In other news, Chairman H E. Timanus, Jr. bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were purchased at an average price of $67.00 per share, for a total transaction of $134,000.00. Following the completion of the transaction, the chairman now owns 2,000 shares in the company, valued at $134,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.22% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Walleye Capital LLC increased its position in shares of Prosperity Bancshares by 17.5% in the 1st quarter. Walleye Capital LLC now owns 85,976 shares of the bank’s stock worth $5,965,000 after purchasing an additional 12,830 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of Prosperity Bancshares by 96.2% in the 1st quarter. Advisory Services Network LLC now owns 6,474 shares of the bank’s stock valued at $449,000 after buying an additional 3,174 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Prosperity Bancshares by 50.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 38,236 shares of the bank’s stock valued at $2,653,000 after purchasing an additional 12,833 shares during the period. Walleye Trading LLC acquired a new position in Prosperity Bancshares during the 1st quarter valued at about $227,000. Finally, Avalon Investment & Advisory boosted its stake in Prosperity Bancshares by 13.8% during the 1st quarter. Avalon Investment & Advisory now owns 82,156 shares of the bank’s stock valued at $5,700,000 after purchasing an additional 9,983 shares during the period. Institutional investors and hedge funds own 80.30% of the company’s stock.
Prosperity Bancshares Company Profile (Get Rating)
Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, 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, as well as loans for working capital, business expansion, and purchase of equipment and machinery.
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