Q4 EPS Estimate for Prosperity Bancshares Raised by Analyst

Prosperity Bancshares, Inc. (NYSE:PB) – Research analysts at DA Davidson raised their Q4 2024 earnings per share (EPS) estimates for shares of Prosperity Bancshares in a research report issued on Thursday, December 19th. DA Davidson analyst P. Winter now forecasts that the bank will post earnings of $1.34 per share for the quarter, up from their previous forecast of $1.33. DA Davidson currently has a “Neutral” rating and a $78.00 target price on the stock. The consensus estimate for Prosperity Bancshares’ current full-year earnings is $5.05 per share. DA Davidson also issued estimates for Prosperity Bancshares’ FY2025 earnings at $5.79 EPS.

A number of other equities analysts have also commented on PB. Raymond James lowered shares of Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price objective for the company. in a research report on Tuesday, September 17th. Hovde Group increased their price objective on Prosperity Bancshares from $80.50 to $82.50 and gave the stock an “outperform” rating in a research report on Monday, August 26th. StockNews.com downgraded shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, November 29th. Wolfe Research reissued a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $77.00 target price on shares of Prosperity Bancshares in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $82.05.

Prosperity Bancshares Stock Performance

PB opened at $74.95 on Friday. The firm has a market cap of $7.14 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. Prosperity Bancshares has a 52-week low of $57.16 and a 52-week high of $86.75. The business’s fifty day moving average is $78.69 and its 200-day moving average is $71.62.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, October 23rd. The bank reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. The company had revenue of $459.00 million for the quarter, compared to analysts’ expectations of $299.83 million. During the same period in the prior year, the firm earned $1.20 EPS.

Institutional Trading of Prosperity Bancshares

A number of hedge funds have recently added to or reduced their stakes in the business. Quarry LP lifted its stake in shares of Prosperity Bancshares by 533.3% in the second quarter. Quarry LP now owns 494 shares of the bank’s stock valued at $30,000 after purchasing an additional 416 shares during the period. Quest Partners LLC grew its position in shares of Prosperity Bancshares by 3,147.1% during the second quarter. Quest Partners LLC now owns 552 shares of the bank’s stock worth $34,000 after acquiring an additional 535 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in shares of Prosperity Bancshares during the second quarter valued at approximately $43,000. Headlands Technologies LLC acquired a new stake in Prosperity Bancshares in the 2nd quarter valued at approximately $46,000. Finally, GAMMA Investing LLC boosted its position in Prosperity Bancshares by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock worth $51,000 after acquiring an additional 227 shares during the period. 80.69% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Leah Henderson sold 1,100 shares of Prosperity Bancshares stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $83.24, for a total value of $91,564.00. Following the completion of the transaction, the director now directly owns 7,525 shares of the company’s stock, valued at $626,381. This trade represents a 12.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $78.48, for a total value of $39,240.00. Following the sale, the director now directly owns 110,815 shares in the company, valued at $8,696,761.20. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,100 shares of company stock valued at $1,004,719. 4.28% of the stock is owned by corporate insiders.

Prosperity Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.10%. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.56. The ex-dividend date is Friday, December 13th. Prosperity Bancshares’s dividend payout ratio is 49.26%.

About Prosperity Bancshares

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.