Prosperity Bancshares (PB) to Release Earnings on Wednesday

Prosperity Bancshares (NYSE:PB) will be posting its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect Prosperity Bancshares to post earnings of $1.14 per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, January 24th. The bank reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04. Prosperity Bancshares had a return on equity of 6.62% and a net margin of 26.24%. The business had revenue of $413.00 million for the quarter, compared to analyst estimates of $279.34 million. During the same period in the previous year, the company earned $1.51 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 Performance

Shares of NYSE PB opened at $61.95 on Tuesday. Prosperity Bancshares has a 1 year low of $49.60 and a 1 year high of $68.88. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.23 and a beta of 0.93. The stock’s 50-day simple moving average is $62.54 and its 200-day simple moving average is $61.53.

Prosperity Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Friday, June 14th. Prosperity Bancshares’s payout ratio is 49.45%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley raised Prosperity Bancshares from an “underweight” rating to an “equal weight” rating and set a $69.00 price objective for the company in a report on Wednesday, February 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $70.00 price objective on shares of Prosperity Bancshares in a report on Tuesday, April 9th. Barclays assumed coverage on Prosperity Bancshares in a report on Friday, March 8th. They issued an “equal weight” rating and a $68.00 price objective for the company. Raymond James boosted their price objective on Prosperity Bancshares from $65.00 to $80.00 and gave the company a “strong-buy” rating in a report on Friday, January 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $75.00 target price on shares of Prosperity Bancshares in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.79.

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.