Prosperity Bancshares, Inc. (NYSE:PB) – Truist Securiti increased their FY2020 earnings estimates for shares of Prosperity Bancshares in a report released on Monday, September 14th. Truist Securiti analyst J. Demba now anticipates that the bank will post earnings of $5.33 per share for the year, up from their previous estimate of $5.18.

PB has been the subject of several other research reports. Wedbush cut shares of Prosperity Bancshares from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $67.00 to $72.00 in a research report on Tuesday, June 9th. Zacks Investment Research upgraded Prosperity Bancshares from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Thursday, July 2nd. SunTrust Banks cut their target price on Prosperity Bancshares from $80.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Royal Bank of Canada raised their price objective on Prosperity Bancshares from $62.00 to $63.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley decreased their target price on Prosperity Bancshares from $67.00 to $65.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $69.32.

Shares of PB opened at $51.33 on Tuesday. Prosperity Bancshares has a 1-year low of $42.02 and a 1-year high of $75.22. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 0.99 and a beta of 1.39. The company’s fifty day simple moving average is $55.61 and its 200 day simple moving average is $56.63. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.02.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings results on Wednesday, July 29th. The bank reported $1.41 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.28. Prosperity Bancshares had a net margin of 36.72% and a return on equity of 8.25%. The firm had revenue of $284.63 million for the quarter, compared to analyst estimates of $279.04 million. During the same quarter in the previous year, the firm posted $1.18 earnings per share.

Large investors have recently added to or reduced their stakes in the business. Piedmont Investment Advisors Inc. boosted its stake in shares of Prosperity Bancshares by 2.3% during the first quarter. Piedmont Investment Advisors Inc. now owns 8,078 shares of the bank’s stock worth $390,000 after buying an additional 181 shares during the period. HighTower Advisors LLC grew its stake in shares of Prosperity Bancshares by 2.9% during the 1st quarter. HighTower Advisors LLC now owns 9,973 shares of the bank’s stock valued at $482,000 after buying an additional 278 shares during the period. Sowell Financial Services LLC grew its stake in shares of Prosperity Bancshares by 79.4% during the 1st quarter. Sowell Financial Services LLC now owns 678 shares of the bank’s stock valued at $33,000 after buying an additional 300 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Prosperity Bancshares by 1.3% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,100 shares of the bank’s stock valued at $1,372,000 after acquiring an additional 300 shares in the last quarter. Finally, Townsquare Capital LLC lifted its holdings in Prosperity Bancshares by 12.4% in the 1st quarter. Townsquare Capital LLC now owns 3,705 shares of the bank’s stock worth $217,000 after buying an additional 409 shares in the last quarter. Institutional investors own 78.14% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be given a $0.46 dividend. The ex-dividend date is Monday, September 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.58%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 36.65%.

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.

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

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