Wall Street brokerages expect Prosperity Bancshares, Inc. (NYSE:PB) to announce earnings of $1.18 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Prosperity Bancshares’ earnings. The lowest EPS estimate is $1.16 and the highest is $1.20. Prosperity Bancshares reported earnings per share of $0.98 during the same quarter last year, which would indicate a positive year-over-year growth rate of 20.4%. The company is expected to issue its next earnings results on Wednesday, October 24th.

According to Zacks, analysts expect that Prosperity Bancshares will report full-year earnings of $4.61 per share for the current year, with EPS estimates ranging from $4.57 to $4.65. For the next financial year, analysts forecast that the firm will report earnings of $4.97 per share, with EPS estimates ranging from $4.87 to $5.03. Zacks’ EPS averages are a mean average based on a survey of analysts that follow Prosperity Bancshares.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, July 25th. The bank reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.15 by $0.02. The firm had revenue of $190.17 million during the quarter, compared to analyst estimates of $186.33 million. Prosperity Bancshares had a net margin of 35.75% and a return on equity of 7.59%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 EPS.

PB has been the subject of a number of recent analyst reports. Stephens restated a “hold” rating and set a $75.00 price target on shares of Prosperity Bancshares in a research report on Wednesday, July 25th. ValuEngine lowered shares of Prosperity Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. DA Davidson reduced their price target on shares of Prosperity Bancshares to $70.00 and set a “neutral” rating for the company in a research report on Monday, June 18th. Morgan Stanley reduced their price target on shares of Prosperity Bancshares from $75.00 to $73.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Zacks Investment Research lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Monday, July 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $75.00.

In related news, Director Harrison Stafford II sold 1,900 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $72.97, for a total value of $138,643.00. Following the completion of the transaction, the director now directly owns 103,562 shares in the company, valued at $7,556,919.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leah Henderson sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $76.09, for a total transaction of $76,090.00. Following the completion of the transaction, the director now owns 1,050 shares of the company’s stock, valued at $79,894.50. The disclosure for this sale can be found here. 5.05% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in Prosperity Bancshares by 1.9% in the second quarter. BlackRock Inc. now owns 5,927,378 shares of the bank’s stock worth $405,197,000 after acquiring an additional 108,731 shares in the last quarter. Findlay Park Partners LLP grew its position in Prosperity Bancshares by 53.1% in the second quarter. Findlay Park Partners LLP now owns 2,924,575 shares of the bank’s stock worth $199,924,000 after acquiring an additional 1,014,890 shares in the last quarter. Champlain Investment Partners LLC grew its position in Prosperity Bancshares by 6.9% in the first quarter. Champlain Investment Partners LLC now owns 2,022,175 shares of the bank’s stock worth $146,871,000 after acquiring an additional 130,025 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Prosperity Bancshares by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,731,827 shares of the bank’s stock valued at $118,385,000 after buying an additional 19,755 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Prosperity Bancshares by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 843,053 shares of the bank’s stock valued at $57,631,000 after buying an additional 26,835 shares during the period. Institutional investors own 77.46% of the company’s stock.

Shares of PB traded down $0.25 during mid-day trading on Friday, reaching $73.79. 2,834 shares of the stock traded hands, compared to its average volume of 391,114. The firm has a market capitalization of $5.17 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 1.60 and a beta of 1.34. Prosperity Bancshares has a 1 year low of $61.15 and a 1 year high of $79.20.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Saturday, September 15th will be given a $0.36 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.44 annualized dividend and a yield of 1.95%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 36.55%.

About Prosperity Bancshares

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, 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; and consumer durables and home equity loans.

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

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