Prosperity Bancshares, Inc. (NYSE:PB) – Stock analysts at Wedbush issued their Q3 2017 EPS estimates for Prosperity Bancshares in a report released on Thursday. Wedbush analyst P. Winter anticipates that the bank will earn $1.01 per share for the quarter. Wedbush currently has a “Neutral” rating and a $67.00 target price on the stock. Wedbush also issued estimates for Prosperity Bancshares’ Q4 2017 earnings at $1.03 EPS, Q1 2018 earnings at $1.03 EPS, Q2 2018 earnings at $1.04 EPS, Q3 2018 earnings at $1.07 EPS and Q4 2018 earnings at $1.08 EPS.
Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, July 26th. The bank reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $187.13 million. During the same quarter in the prior year, the company earned $0.98 EPS.
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A number of other equities research analysts have also issued reports on PB. UBS AG lowered Prosperity Bancshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 6th. Stephens set a $73.00 price target on Prosperity Bancshares and gave the company a “hold” rating in a report on Wednesday, July 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $73.00 price target on shares of Prosperity Bancshares in a report on Thursday, July 27th. BidaskClub downgraded Prosperity Bancshares from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $73.50 price target on shares of Prosperity Bancshares in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Prosperity Bancshares currently has a consensus rating of “Hold” and a consensus target price of $71.17.
Shares of Prosperity Bancshares (NYSE PB) opened at 64.60 on Monday. Prosperity Bancshares has a 12-month low of $49.46 and a 12-month high of $77.87. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 16.35 and a beta of 1.33. The company has a 50 day moving average of $64.68 and a 200-day moving average of $68.39.
The company also recently announced 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. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.36 dividend on an annualized basis and a yield of 2.11%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 34.34%.
In other Prosperity Bancshares news, Director Robert H. Steelhammer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $65.10, for a total value of $651,000.00. Following the transaction, the director now owns 156,800 shares in the company, valued at $10,207,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert H. Steelhammer sold 4,000 shares of the business’s 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 transaction, the director now owns 147,800 shares in the company, valued at approximately $9,510,930. The disclosure for this sale can be found here. Insiders own 4.93% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PB. Huntington National Bank increased its position in shares of Prosperity Bancshares by 9.2% in the second quarter. Huntington National Bank now owns 1,689 shares of the bank’s stock worth $109,000 after buying an additional 143 shares during the period. Quantbot Technologies LP purchased a new position in shares of Prosperity Bancshares during the first quarter worth approximately $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 worth $156,000 after buying an additional 269 shares during the period. Parametrica Management Ltd purchased a new position in shares of Prosperity Bancshares during the first quarter worth approximately $207,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Prosperity Bancshares during the first quarter worth approximately $244,000. Hedge funds and other institutional investors own 75.51% of the company’s stock.
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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