Research Analysts Offer Predictions for Prosperity Bancshares, Inc.’s FY2019 Earnings (PB)

Prosperity Bancshares, Inc. (NYSE:PB) – Equities researchers at Wedbush issued their FY2019 EPS estimates for Prosperity Bancshares in a research report issued to clients and investors on Thursday. Wedbush analyst P. Winter anticipates that the bank will post earnings per share of $5.16 for the year.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, October 25th. The bank reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. Prosperity Bancshares had a net margin of 34.79% and a return on equity of 7.38%. The business had revenue of $184.96 million during the quarter, compared to analyst estimates of $185.59 million. During the same period in the previous year, the business posted $0.99 earnings per share.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Prosperity Bancshares from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Friday, December 29th. ValuEngine upgraded shares of Prosperity Bancshares from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. SunTrust Banks reiterated a “buy” rating and set a $77.00 target price on shares of Prosperity Bancshares in a research report on Wednesday, November 29th. Royal Bank of Canada reiterated a “hold” rating and set a $71.00 target price on shares of Prosperity Bancshares in a research report on Friday, September 8th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $79.00 price target on shares of Prosperity Bancshares in a research note on Friday, December 22nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Prosperity Bancshares presently has an average rating of “Hold” and a consensus price target of $73.32.

Shares of Prosperity Bancshares (NYSE PB) traded down $0.15 during trading on Friday, reaching $69.37. 541,700 shares of the company’s stock traded hands, compared to its average volume of 451,267. Prosperity Bancshares has a twelve month low of $55.84 and a twelve month high of $77.87. The company has a market capitalization of $4,830.53, a price-to-earnings ratio of 17.56, a PEG ratio of 1.67 and a beta of 1.37.

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Prosperity Bancshares by 0.7% during the second quarter. Vanguard Group Inc. now owns 6,097,861 shares of the bank’s stock worth $391,727,000 after acquiring an additional 41,682 shares in the last quarter. FMR LLC increased its stake in shares of Prosperity Bancshares by 14.5% in the second quarter. FMR LLC now owns 1,980,933 shares of the bank’s stock worth $127,255,000 after buying an additional 251,330 shares during the period. Janus Henderson Group PLC increased its stake in shares of Prosperity Bancshares by 108.1% in the third quarter. Janus Henderson Group PLC now owns 1,957,916 shares of the bank’s stock worth $128,701,000 after buying an additional 1,017,115 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Prosperity Bancshares by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,709,284 shares of the bank’s stock worth $109,809,000 after buying an additional 22,930 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Prosperity Bancshares by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 817,453 shares of the bank’s stock worth $53,730,000 after buying an additional 8,304 shares during the period. 76.80% of the stock is currently owned by hedge funds and other institutional investors.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, December 14th. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 2.08%. Prosperity Bancshares’s dividend payout ratio (DPR) is 36.46%.

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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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