Prosperity Bancshares (PB) Scheduled to Post Quarterly Earnings on Wednesday

Prosperity Bancshares (NYSE:PB) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, October 23rd. Analysts expect the company to announce earnings of $1.30 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, July 24th. The bank reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.02. The firm had revenue of $458.95 million for the quarter, compared to analysts’ expectations of $290.06 million. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. During the same quarter in the prior year, the firm posted $1.21 earnings per share. On average, analysts expect Prosperity Bancshares to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Prosperity Bancshares Stock Up 0.0 %

Shares of Prosperity Bancshares stock opened at $72.93 on Wednesday. Prosperity Bancshares has a 52 week low of $49.60 and a 52 week high of $74.87. The company has a market capitalization of $7.00 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89. The stock’s fifty day moving average is $71.66 and its two-hundred day moving average is $66.09.

Analyst Upgrades and Downgrades

Several research analysts have commented on PB shares. Stephens upgraded Prosperity Bancshares from an “equal weight” rating to an “overweight” rating in a report on Wednesday, June 26th. Compass Point increased their target price on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, July 26th. StockNews.com cut shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday, August 28th. Royal Bank of Canada lifted their price objective on shares of Prosperity Bancshares from $70.00 to $74.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, Morgan Stanley upgraded Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $75.00 to $86.00 in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Prosperity Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.27.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, 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; term loans and lines of credit; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.