Prosperity Bancshares (PB) to Release Earnings on Wednesday

Prosperity Bancshares (NYSE:PB - Get Free Report) is anticipated to post its quarterly earnings results before the market opens on Wednesday, January 29th. Analysts expect Prosperity Bancshares to post earnings of $1.33 per share and revenue of $303,209.58 billion for the quarter. Investors that wish to register for the company's conference call can do so using this link.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The bank reported $1.34 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.03. The company had revenue of $459.00 million during the quarter, compared to the consensus estimate of $299.83 million. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. During the same period in the previous year, the firm posted $1.20 earnings per share. 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 Trading Down 0.7 %

Shares of Prosperity Bancshares stock traded down $0.55 during midday trading on Wednesday, reaching $78.84. The company had a trading volume of 569,043 shares, compared to its average volume of 466,073. The stock has a fifty day simple moving average of $79.07 and a 200 day simple moving average of $74.32. Prosperity Bancshares has a 1-year low of $57.16 and a 1-year high of $86.75. The company has a market capitalization of $7.51 billion, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.11 and a beta of 0.93.

Prosperity Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.94%. Prosperity Bancshares's dividend payout ratio (DPR) is currently 49.26%.

Analysts Set New Price Targets

A number of analysts recently commented on PB shares. Wolfe Research reiterated a "peer perform" rating on shares of Prosperity Bancshares in a research report on Thursday, December 5th. UBS Group lowered their price target 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. Bank of America raised shares of Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 price target for the company in a research note on Tuesday, January 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $77.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Finally, Barclays upped 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, December 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $81.38.

Insider Transactions at Prosperity Bancshares

In other news, Chairman H E. Timanus, Jr. sold 4,000 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $86.50, for a total value of $346,000.00. Following the sale, the chairman now owns 229,953 shares of the company's stock, valued at $19,890,934.50. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ned S. Holmes sold 500 shares of the firm's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $81.44, for a total transaction of $40,720.00. Following the completion of the transaction, the director now directly owns 113,815 shares of the company's stock, valued at approximately $9,269,093.60. This trade represents a 0.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,100 shares of company stock valued at $1,156,639 over the last quarter. Corporate insiders own 4.28% 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.