Equities research analysts forecast that Prosperity Bancshares, Inc. (NYSE:PB) will report $279.86 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Prosperity Bancshares’ earnings. The highest sales estimate is $283.80 million and the lowest is $273.50 million. Prosperity Bancshares posted sales of $293.04 million during the same quarter last year, which suggests a negative year-over-year growth rate of 4.5%. The firm is scheduled to announce its next earnings report on Wednesday, October 27th.
On average, analysts expect that Prosperity Bancshares will report full year sales of $1.13 billion for the current fiscal year, with estimates ranging from $1.12 billion to $1.14 billion. For the next financial year, analysts forecast that the company will report sales of $1.12 billion, with estimates ranging from $1.09 billion to $1.15 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Prosperity Bancshares.
Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings results on Tuesday, July 27th. The bank reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. Prosperity Bancshares had a return on equity of 8.60% and a net margin of 43.00%.
Shares of Prosperity Bancshares stock traded up $0.61 during trading hours on Friday, hitting $66.17. The company’s stock had a trading volume of 2,556 shares, compared to its average volume of 393,316. Prosperity Bancshares has a twelve month low of $48.80 and a twelve month high of $83.02. The firm has a fifty day moving average of $69.36 and a 200-day moving average of $73.13. The stock has a market cap of $6.15 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.20 and a beta of 1.29.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Wednesday, September 15th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Tuesday, September 14th. Prosperity Bancshares’s payout ratio is presently 35.38%.
In other Prosperity Bancshares news, Director Robert H. Steelhammer sold 1,075 shares of Prosperity Bancshares stock in a transaction on Wednesday, June 23rd. The shares were sold at an average price of $71.94, for a total transaction of $77,335.50. Following the completion of the sale, the director now owns 135,355 shares of the company’s stock, valued at approximately $9,737,438.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.17% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. D. E. Shaw & Co. Inc. lifted its stake in shares of Prosperity Bancshares by 22.5% in the first quarter. D. E. Shaw & Co. Inc. now owns 33,545 shares of the bank’s stock valued at $2,512,000 after buying an additional 6,153 shares in the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Prosperity Bancshares by 498.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 71,825 shares of the bank’s stock worth $5,379,000 after acquiring an additional 59,815 shares during the last quarter. Palisade Capital Management LLC NJ increased its position in Prosperity Bancshares by 25.4% during the 1st quarter. Palisade Capital Management LLC NJ now owns 390,270 shares of the bank’s stock valued at $29,227,000 after purchasing an additional 78,996 shares during the period. Public Employees Retirement System of Ohio increased its position in Prosperity Bancshares by 8.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 84,622 shares of the bank’s stock valued at $6,337,000 after purchasing an additional 6,647 shares during the period. Finally, Advisory Services Network LLC grew its position in shares of Prosperity Bancshares by 23.8% in the 1st quarter. Advisory Services Network LLC now owns 2,601 shares of the bank’s stock worth $195,000 after buying an additional 500 shares during the period. 78.13% of the stock is owned by hedge funds and other institutional investors.
Prosperity Bancshares Company Profile
Prosperity Bancshares, Inc is a holding company, which engages in the provision of financial products and solutions. It offers retail and commercial banking services such as deposits, online Internet banking, loan services, investments, trust, and credit card to small and medium-sized businesses and consumers.
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