Prosperity Bancshares (PB) Expected to Announce Earnings on Wednesday

Prosperity Bancshares (NYSE:PB - Get Free Report) is anticipated to release its earnings data before the market opens on Wednesday, April 23rd. Analysts expect Prosperity Bancshares to post earnings of $1.35 per share and revenue of $307.17 million for the quarter. Parties that are interested in registering for the company's conference call can do so using this link.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.04. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. On average, analysts expect Prosperity Bancshares to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Prosperity Bancshares Trading Up 0.2 %

NYSE PB traded up $0.10 during trading on Friday, reaching $65.74. The company's stock had a trading volume of 467,668 shares, compared to its average volume of 567,711. The firm has a 50 day moving average price of $71.31 and a 200 day moving average price of $75.49. Prosperity Bancshares has a 12 month low of $57.16 and a 12 month high of $86.76. The firm has a market capitalization of $6.26 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82.

Prosperity Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.32 dividend on an annualized basis and a yield of 3.53%. Prosperity Bancshares's dividend payout ratio (DPR) is presently 45.85%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. StockNews.com upgraded Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, April 10th. UBS Group cut their price objective on shares of Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, December 26th. Barclays decreased their target price on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley cut their price target on shares of Prosperity Bancshares from $102.00 to $94.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Raymond James lifted their price objective on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.35.

Insiders Place Their Bets

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $65.87, for a total value of $32,935.00. Following the completion of the transaction, the director now directly owns 103,915 shares in the company, valued at approximately $6,844,881.05. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 5,500 shares of company stock valued at $402,415. 4.20% of the stock is currently owned by insiders.

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.