Brokerages expect Prosperity Bancshares, Inc. (NYSE:PB) to post $1.14 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Prosperity Bancshares’ earnings. The lowest EPS estimate is $1.11 and the highest is $1.18. Prosperity Bancshares reported earnings of $0.99 per share in the same quarter last year, which would suggest a positive year over year growth rate of 15.2%. The business is scheduled to announce its next earnings results on Wednesday, April 25th.

On average, analysts expect that Prosperity Bancshares will report full-year earnings of $4.78 per share for the current fiscal year, with EPS estimates ranging from $4.68 to $4.86. For the next fiscal year, analysts expect that the company will report earnings of $5.09 per share, with EPS estimates ranging from $4.95 to $5.33. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Prosperity Bancshares.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.01). The firm had revenue of $185.27 million for the quarter, compared to analysts’ expectations of $185.43 million. Prosperity Bancshares had a net margin of 34.28% and a return on equity of 7.28%. During the same period in the prior year, the business posted $0.99 earnings per share.

Several equities analysts recently issued reports on the company. DA Davidson raised their price target on Prosperity Bancshares to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. SunTrust Banks restated a “buy” rating and set a $85.00 price target on shares of Prosperity Bancshares in a research report on Thursday, January 25th. ValuEngine lowered Prosperity Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Piper Jaffray Companies restated a “hold” rating and set a $73.00 price target on shares of Prosperity Bancshares in a research report on Tuesday, January 9th. Finally, Barclays raised their price target on Prosperity Bancshares from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. Prosperity Bancshares presently has an average rating of “Hold” and an average target price of $74.45.

Shares of Prosperity Bancshares (PB) traded up $1.80 during midday trading on Monday, hitting $73.12. The company had a trading volume of 377,202 shares, compared to its average volume of 427,324. The stock has a market cap of $4,956.10, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.49 and a beta of 1.37. Prosperity Bancshares has a 52 week low of $55.84 and a 52 week high of $77.89.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 16th will be given a $0.36 dividend. The ex-dividend date is Thursday, March 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.97%. Prosperity Bancshares’s dividend payout ratio is currently 36.64%.

Prosperity Bancshares announced that its Board of Directors has authorized a share buyback program on Friday, January 19th that allows the company to repurchase 3,470,000 outstanding shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

In other news, CFO David Hollaway sold 1,800 shares of Prosperity Bancshares stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $75.60, for a total value of $136,080.00. Following the sale, the chief financial officer now directly owns 168,684 shares in the company, valued at approximately $12,752,510.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Epps sold 4,000 shares of Prosperity Bancshares stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $75.15, for a total value of $300,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,800 shares of company stock worth $818,280. Corporate insiders own 4.93% of the company’s stock.

Several hedge funds have recently modified their holdings of PB. Canada Pension Plan Investment Board purchased a new position in shares of Prosperity Bancshares in the 3rd quarter valued at approximately $105,000. Tower Research Capital LLC TRC purchased a new position in shares of Prosperity Bancshares in the 4th quarter valued at approximately $127,000. PNC Financial Services Group Inc. lifted its stake in shares of Prosperity Bancshares by 8.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,424 shares of the bank’s stock valued at $156,000 after purchasing an additional 185 shares during the period. Arvest Bank Trust Division purchased a new position in shares of Prosperity Bancshares in the 4th quarter valued at approximately $210,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Prosperity Bancshares by 39.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,469 shares of the bank’s stock valued at $243,000 after purchasing an additional 980 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

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About Prosperity Bancshares

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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Earnings History and Estimates for Prosperity Bancshares (NYSE:PB)

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