Prosperity Bancshares, Inc. (NYSE:PB) – Investment analysts at FIG Partners lowered their Q3 2017 EPS estimates for Prosperity Bancshares in a research note issued on Wednesday. FIG Partners analyst J. Rodis now expects that the bank will post earnings of $0.95 per share for the quarter, down from their previous forecast of $0.99. FIG Partners also issued estimates for Prosperity Bancshares’ FY2017 earnings at $3.93 EPS, Q1 2018 earnings at $1.00 EPS, Q2 2018 earnings at $1.03 EPS, Q3 2018 earnings at $1.07 EPS and Q4 2018 earnings at $1.09 EPS.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.01). The business had revenue of $180.01 million for the quarter, compared to analyst estimates of $187.13 million. Prosperity Bancshares had a net margin of 35.20% and a return on equity of 7.49%. During the same period in the previous year, the firm posted $0.98 earnings per share.

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Several other research firms have also issued reports on PB. BidaskClub upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Zacks Investment Research lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. ValuEngine lowered Prosperity Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, May 24th. Barclays PLC began coverage on Prosperity Bancshares in a report on Thursday, August 3rd. They set an “overweight” rating and a $72.00 target price on the stock. Finally, UBS AG lowered Prosperity Bancshares to an “underperform” rating in a report on Thursday, August 10th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Prosperity Bancshares presently has a consensus rating of “Hold” and a consensus target price of $71.23.

Prosperity Bancshares (PB) opened at 61.71 on Thursday. The company’s 50-day moving average price is $62.00 and its 200 day moving average price is $65.88. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of 15.62 and a beta of 1.34. Prosperity Bancshares has a 52-week low of $52.19 and a 52-week high of $77.87.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PB. Huntington National Bank raised its stake in shares of Prosperity Bancshares by 9.2% in the 2nd quarter. Huntington National Bank now owns 1,689 shares of the bank’s stock valued at $109,000 after purchasing an additional 143 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of Prosperity Bancshares in the second quarter valued at about $109,000. Quantbot Technologies LP acquired a new stake in shares of Prosperity Bancshares in the first quarter valued at about $154,000. PNC Financial Services Group Inc. increased its position in shares of Prosperity Bancshares by 13.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the bank’s stock valued at $156,000 after acquiring an additional 269 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Prosperity Bancshares by 17.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,489 shares of the bank’s stock valued at $160,000 after acquiring an additional 369 shares during the last quarter. 72.90% of the stock is currently owned by hedge funds and other institutional investors.

In other Prosperity Bancshares news, Director Robert H. Steelhammer sold 5,000 shares of Prosperity Bancshares stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.51, for a total value of $307,550.00. Following the sale, the director now owns 142,800 shares of the company’s stock, valued at approximately $8,783,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert H. Steelhammer sold 4,000 shares of Prosperity Bancshares stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $64.35, for a total value of $257,400.00. Following the completion of the sale, the director now directly owns 147,800 shares in the company, valued at approximately $9,510,930. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock worth $864,950 in the last three months. Company insiders own 4.93% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Thursday, September 14th. Prosperity Bancshares’s dividend payout ratio is 34.34%.

About Prosperity Bancshares

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.

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

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