Q3 2024 EPS Estimates for Prosperity Bancshares, Inc. Raised by Zacks Research (NYSE:PB)

Prosperity Bancshares, Inc. (NYSE:PB - Free Report) - Research analysts at Zacks Research upped their Q3 2024 EPS estimates for shares of Prosperity Bancshares in a report released on Monday, October 14th. Zacks Research analyst R. Department now forecasts that the bank will post earnings per share of $1.29 for the quarter, up from their previous estimate of $1.28. The consensus estimate for Prosperity Bancshares' current full-year earnings is $5.03 per share. Zacks Research also issued estimates for Prosperity Bancshares' Q2 2025 earnings at $1.39 EPS, Q3 2025 earnings at $1.43 EPS, Q4 2025 earnings at $1.47 EPS, FY2025 earnings at $5.59 EPS, Q2 2026 earnings at $1.64 EPS, Q3 2026 earnings at $1.64 EPS and FY2026 earnings at $6.53 EPS.

PB has been the subject of a number of other research reports. StockNews.com cut Prosperity Bancshares from a "hold" rating to a "sell" rating in a report on Wednesday, August 28th. Truist Financial lowered shares of Prosperity Bancshares from a "buy" rating to a "hold" rating and reduced their price target for the stock from $81.00 to $79.00 in a research report on Friday, September 20th. Compass Point increased their target price on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, July 26th. Stephens raised Prosperity Bancshares from an "equal weight" rating to an "overweight" rating in a report on Wednesday, June 26th. Finally, Barclays boosted their target price on shares of Prosperity Bancshares from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.27.

Prosperity Bancshares Price Performance

PB stock traded up $0.01 during midday trading on Tuesday, hitting $72.93. The company's stock had a trading volume of 725,213 shares, compared to its average volume of 565,080. The company's fifty day moving average price is $71.66 and its 200 day moving average price is $66.09. Prosperity Bancshares has a twelve month low of $49.60 and a twelve month high of $74.87. The stock has a market capitalization of $7.00 billion, a P/E ratio of 16.80, a PEG ratio of 1.49 and a beta of 0.89.

Prosperity Bancshares (NYSE:PB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.02. The business had revenue of $458.95 million during the quarter, compared to analyst estimates of $290.06 million. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. During the same period in the previous year, the firm earned $1.21 EPS.

Prosperity Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a $0.56 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.07%. Prosperity Bancshares's dividend payout ratio is currently 51.61%.

Institutional Investors Weigh In On Prosperity Bancshares

A number of large investors have recently modified their holdings of PB. Vanguard Group Inc. lifted its position in Prosperity Bancshares by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 9,693,076 shares of the bank's stock valued at $656,512,000 after acquiring an additional 53,844 shares during the period. Victory Capital Management Inc. raised its holdings in Prosperity Bancshares by 3.0% in the second quarter. Victory Capital Management Inc. now owns 6,359,165 shares of the bank's stock worth $388,799,000 after buying an additional 184,453 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Prosperity Bancshares by 14.2% in 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Prosperity Bancshares by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 935,420 shares of the bank's stock valued at $57,192,000 after buying an additional 19,224 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Prosperity Bancshares by 11.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 884,734 shares of the bank's stock valued at $59,923,000 after acquiring an additional 89,617 shares in the last quarter. Institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Company Profile

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.