Research Analysts Offer Predictions for PB Q4 Earnings

Prosperity Bancshares, Inc. (NYSE:PB) – Research analysts at DA Davidson lifted their Q4 2024 earnings per share estimates for Prosperity Bancshares in a research note issued on Thursday, December 19th. DA Davidson analyst P. Winter now anticipates that the bank will post earnings per share of $1.34 for the quarter, up from their previous estimate of $1.33. DA Davidson has a “Neutral” rating and a $78.00 price objective on the stock. The consensus estimate for Prosperity Bancshares’ current full-year earnings is $5.05 per share. DA Davidson also issued estimates for Prosperity Bancshares’ FY2025 earnings at $5.79 EPS.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. The company had revenue of $459.00 million during the quarter, compared to analyst estimates of $299.83 million. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. During the same quarter in the previous year, the firm earned $1.20 EPS.

A number of other equities analysts have also recently commented on the company. Wedbush reissued an “outperform” rating and set a $90.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. Truist Financial cut shares of Prosperity Bancshares from a “buy” rating to a “hold” rating and lowered their target price for the stock from $81.00 to $79.00 in a research note on Friday, September 20th. Barclays increased their target price on shares of Prosperity Bancshares from $84.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday. Raymond James lowered shares of Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price target on the stock. in a research report on Tuesday, September 17th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $82.05.

Prosperity Bancshares Stock Up 1.1 %

PB opened at $74.95 on Friday. The company has a market cap of $7.14 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.19 and a beta of 0.92. Prosperity Bancshares has a twelve month low of $57.16 and a twelve month high of $86.75. The company has a 50-day moving average price of $78.69 and a 200 day moving average price of $71.55.

Prosperity Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.58 per share. This is a boost from Prosperity Bancshares’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.32 annualized dividend and a yield of 3.10%. Prosperity Bancshares’s dividend payout ratio (DPR) is 49.26%.

Insider Buying and Selling at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $78.48, for a total value of $39,240.00. Following the sale, the director now directly owns 110,815 shares in the company, valued at approximately $8,696,761.20. The trade was a 0.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $86.50, for a total transaction of $346,000.00. Following the transaction, the chairman now directly owns 229,953 shares of the company’s stock, valued at approximately $19,890,934.50. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,100 shares of company stock worth $1,004,719 over the last quarter. 4.28% of the stock is currently owned by company insiders.

Institutional Trading of Prosperity Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of Prosperity Bancshares by 14.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,287,615 shares of the bank’s stock worth $262,141,000 after buying an additional 532,241 shares during the period. Point72 Asset Management L.P. purchased a new position in Prosperity Bancshares during the 3rd quarter valued at about $16,478,000. Victory Capital Management Inc. boosted its holdings in Prosperity Bancshares by 3.0% during the 2nd quarter. Victory Capital Management Inc. now owns 6,359,165 shares of the bank’s stock valued at $388,799,000 after acquiring an additional 184,453 shares during the period. Thrivent Financial for Lutherans grew its position in Prosperity Bancshares by 16.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 811,772 shares of the bank’s stock valued at $49,632,000 after acquiring an additional 112,101 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Prosperity Bancshares by 418.0% during the third quarter. Jane Street Group LLC now owns 111,548 shares of the bank’s stock worth $8,039,000 after purchasing an additional 90,015 shares during the period. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.