Prosperity Bancshares (NYSE:PB) – Equities researchers at Wedbush decreased their FY2018 earnings per share (EPS) estimates for Prosperity Bancshares in a research note issued to investors on Thursday, April 26th. Wedbush analyst P. Winter now forecasts that the bank will earn $4.67 per share for the year, down from their previous forecast of $4.77. Wedbush also issued estimates for Prosperity Bancshares’ Q1 2019 earnings at $1.22 EPS, Q3 2019 earnings at $1.29 EPS and Q4 2019 earnings at $1.32 EPS.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, April 25th. The bank reported $1.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.14 by ($0.07). The firm had revenue of $181.16 million for the quarter, compared to analyst estimates of $180.97 million. Prosperity Bancshares had a return on equity of 7.34% and a net margin of 34.87%. Prosperity Bancshares’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share.

A number of other equities analysts also recently weighed in on PB. Zacks Investment Research upgraded shares of Prosperity Bancshares from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Friday, December 29th. Hovde Group downgraded shares of Prosperity Bancshares from a “market perform” rating to an “underperform” rating and lowered their target price for the stock from $70.00 to $68.00 in a report on Tuesday, January 2nd. Barclays boosted their target price on shares of Prosperity Bancshares from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Piper Jaffray reaffirmed a “hold” rating and set a $73.00 price objective on shares of Prosperity Bancshares in a research report on Tuesday, January 9th. Finally, ValuEngine cut shares of Prosperity Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $74.09.

Shares of PB opened at $73.12 on Friday. The firm has a market cap of $5,163.36, a P/E ratio of 18.56, a PEG ratio of 1.55 and a beta of 1.32. Prosperity Bancshares has a 1-year low of $55.84 and a 1-year high of $79.20.

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC bought a new stake in shares of Prosperity Bancshares in the fourth quarter valued at about $127,000. Icon Wealth Partners LLC bought a new stake in shares of Prosperity Bancshares in the fourth quarter valued at about $177,000. Arvest Bank Trust Division bought a new stake in shares of Prosperity Bancshares in the fourth quarter valued at about $210,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Prosperity Bancshares by 39.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,469 shares of the bank’s stock valued at $243,000 after acquiring an additional 980 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Prosperity Bancshares in the fourth quarter valued at about $273,000. 77.58% of the stock is owned by institutional investors.

In other news, insider Michael Epps sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $75.15, for a total value of $300,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Hollaway sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $76.32, for a total transaction of $381,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,800 shares of company stock valued at $818,280. Company insiders own 5.05% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.44 dividend on an annualized basis and a yield of 1.97%. Prosperity Bancshares’s dividend payout ratio (DPR) is 36.55%.

Prosperity Bancshares announced that its Board of Directors has initiated a share buyback plan on Friday, January 19th that allows the company to repurchase 3,470,000 shares. This repurchase authorization allows the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

About Prosperity Bancshares

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, 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; and consumer durables and home equity loans.

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

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