Prosperity Bancshares (PB) to Release Earnings on Wednesday

Prosperity Bancshares (NYSE:PB) is set to post 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 that are interested in registering for the company’s earnings conference call can do so using this link.

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

Prosperity Bancshares stock opened at $61.95 on Tuesday. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.23 and a beta of 0.93. Prosperity Bancshares has a 1 year low of $49.60 and a 1 year high of $68.88. The firm has a 50-day moving average of $62.54 and a two-hundred day moving average of $61.53.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.56 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.24 annualized dividend and a yield of 3.62%. Prosperity Bancshares’s dividend payout ratio (DPR) is 49.45%.

Wall Street Analyst Weigh In

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

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.