Prosperity Bancshares, Inc. (NYSE:PB) – Stock analysts at Wedbush issued their Q1 2018 EPS estimates for Prosperity Bancshares in a research note issued to investors on Wednesday, Zacks Investment Research reports. Wedbush analyst P. Winter anticipates that the bank will post earnings of $1.07 per share for the quarter. Wedbush also issued estimates for Prosperity Bancshares’ Q2 2018 earnings at $1.10 EPS, Q3 2018 earnings at $1.14 EPS, Q4 2018 earnings at $1.17 EPS and FY2018 earnings at $4.49 EPS.
A number of other equities analysts have also commented on PB. Zacks Investment Research raised shares of Prosperity Bancshares from a “hold” rating to a “buy” rating in a research report on Tuesday, January 10th. FBR & Co lifted their price target on shares of Prosperity Bancshares from $73.00 to $75.00 and gave the company a “mkt perform” rating in a research report on Thursday, January 26th. Hovde Group lowered shares of Prosperity Bancshares to a “market perform” rating in a research report on Monday, February 27th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Prosperity Bancshares in a research report on Thursday, April 6th. Finally, Keefe, Bruyette & Woods lowered shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $81.00 to $76.00 in a research report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Prosperity Bancshares presently has an average rating of “Hold” and an average price target of $64.22.
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Prosperity Bancshares (NYSE:PB) traded up 0.21% during midday trading on Friday, hitting $66.63. 12,485 shares of the stock traded hands. Prosperity Bancshares has a 1-year low of $44.87 and a 1-year high of $77.87. The company has a 50-day moving average price of $67.90 and a 200-day moving average price of $68.83. The firm has a market cap of $4.63 billion, a P/E ratio of 16.89 and a beta of 1.30.
Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, April 26th. The bank reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.02. Prosperity Bancshares had a net margin of 34.56% and a return on equity of 7.69%. The company had revenue of $183.25 million during the quarter, compared to analyst estimates of $185.03 million. During the same quarter in the prior year, the business earned $0.98 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year.
Institutional investors have recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in Prosperity Bancshares by 0.3% in the third quarter. Teachers Advisors LLC now owns 107,357 shares of the bank’s stock worth $5,893,000 after buying an additional 282 shares in the last quarter. New York State Common Retirement Fund increased its stake in Prosperity Bancshares by 8.7% in the third quarter. New York State Common Retirement Fund now owns 75,454 shares of the bank’s stock worth $4,142,000 after buying an additional 6,054 shares in the last quarter. BlackRock Inc. increased its stake in Prosperity Bancshares by 7.2% in the third quarter. BlackRock Inc. now owns 43,031 shares of the bank’s stock worth $2,362,000 after buying an additional 2,881 shares in the last quarter. BlackRock Advisors LLC increased its stake in Prosperity Bancshares by 13.8% in the third quarter. BlackRock Advisors LLC now owns 146,610 shares of the bank’s stock worth $8,047,000 after buying an additional 17,796 shares in the last quarter. Finally, US Bancorp DE increased its stake in Prosperity Bancshares by 0.9% in the third quarter. US Bancorp DE now owns 6,469 shares of the bank’s stock worth $355,000 after buying an additional 57 shares in the last quarter. 73.59% of the stock is currently owned by institutional investors and hedge funds.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Friday, June 16th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, June 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 34.52%.
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.
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