Prosperity Bancshares, Inc. (PB) to Release Quarterly Earnings on Tuesday
Prosperity Bancshares, Inc. (NYSE:PB) will be announcing its earnings results before the market opens on Tuesday, October 24th. Analysts expect the company to announce earnings of $1.02 per share for the quarter.
Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, July 26th. The bank reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.01). Prosperity Bancshares had a return on equity of 7.49% and a net margin of 35.20%. The business had revenue of $180.01 million for the quarter, compared to analyst estimates of $187.13 million. During the same period last year, the firm posted $0.98 EPS. On average, analysts expect Prosperity Bancshares to post $3.95 EPS for the current fiscal year and $4.15 EPS for the next fiscal year.
Prosperity Bancshares, Inc. (NYSE PB) opened at 64.30 on Tuesday. The stock’s 50 day moving average price is $61.87 and its 200-day moving average price is $64.37. Prosperity Bancshares, Inc. has a 12-month low of $52.81 and a 12-month high of $77.87. The firm has a market cap of $4.47 billion, a PE ratio of 16.28 and a beta of 1.36.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Friday, September 15th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Thursday, September 14th. Prosperity Bancshares’s dividend payout ratio is 34.34%.
Several research firms recently issued reports on PB. Zacks Investment Research lowered Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. BidaskClub lowered Prosperity Bancshares from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 16th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Prosperity Bancshares in a research note on Thursday, August 10th. UBS AG lowered Prosperity Bancshares to an “underperform” rating in a research note on Thursday, August 10th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $73.50 price objective on shares of Prosperity Bancshares in a research note on Friday, July 14th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $71.05.
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In related news, Director Robert H. Steelhammer sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $61.51, for a total transaction of $307,550.00. Following the transaction, the director now owns 142,800 shares in the company, valued at approximately $8,783,628. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.93% of the stock is owned by insiders.
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.
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