Zacks Research Issues Positive Estimate for PB Earnings

Prosperity Bancshares, Inc. (NYSE:PB) – Analysts at Zacks Research upped their Q3 2027 earnings per share (EPS) estimates for shares of Prosperity Bancshares in a research report issued to clients and investors on Thursday, October 16th. Zacks Research analyst Team now expects that the bank will post earnings per share of $1.76 for the quarter, up from their previous forecast of $1.75. The consensus estimate for Prosperity Bancshares’ current full-year earnings is $5.83 per share. Zacks Research also issued estimates for Prosperity Bancshares’ FY2027 earnings at $6.89 EPS.

Several other research analysts have also issued reports on the company. Hovde Group lowered their target price on Prosperity Bancshares from $85.00 to $83.00 and set an “outperform” rating for the company in a research report on Thursday, July 24th. Cowen began coverage on Prosperity Bancshares in a research report on Wednesday, September 24th. They set a “buy” rating for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Prosperity Bancshares in a research report on Wednesday, October 8th. Cantor Fitzgerald began coverage on Prosperity Bancshares in a research report on Wednesday, September 10th. They set an “overweight” rating and a $78.00 target price for the company. Finally, Raymond James Financial set a $75.00 target price on Prosperity Bancshares in a research report on Tuesday, October 7th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $82.27.

Prosperity Bancshares Stock Up 1.6%

Shares of NYSE:PB opened at $64.17 on Monday. The firm has a market cap of $6.10 billion, a P/E ratio of 11.67, a P/E/G ratio of 0.94 and a beta of 0.73. Prosperity Bancshares has a 12-month low of $61.06 and a 12-month high of $86.75. The business has a fifty day simple moving average of $66.76 and a 200 day simple moving average of $68.40.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.02. Prosperity Bancshares had a return on equity of 6.99% and a net margin of 29.37%.The company had revenue of $310.70 million for the quarter, compared to the consensus estimate of $315.66 million. During the same quarter last year, the business posted $1.22 EPS.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. State Street Corp grew its stake in shares of Prosperity Bancshares by 3.2% in the 2nd quarter. State Street Corp now owns 5,236,977 shares of the bank’s stock valued at $370,768,000 after buying an additional 160,740 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Prosperity Bancshares by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,688,304 shares of the bank’s stock valued at $334,595,000 after buying an additional 102,044 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Prosperity Bancshares by 14.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,232,995 shares of the bank’s stock valued at $230,739,000 after buying an additional 412,283 shares during the period. AQR Capital Management LLC grew its stake in shares of Prosperity Bancshares by 175.1% in the 2nd quarter. AQR Capital Management LLC now owns 2,383,162 shares of the bank’s stock valued at $167,393,000 after buying an additional 1,516,939 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Prosperity Bancshares by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,788,114 shares of the bank’s stock valued at $125,615,000 after buying an additional 11,606 shares during the period. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 600 shares of Prosperity Bancshares stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $70.21, for a total value of $42,126.00. Following the completion of the transaction, the director directly owned 44,800 shares of the company’s stock, valued at approximately $3,145,408. This trade represents a 1.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 14,300 shares of company stock valued at $960,266. Company insiders own 4.20% of the company’s stock.

Prosperity Bancshares Company Profile

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; term loans and lines of credit; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.