What is Zacks Research's Estimate for PB FY2024 Earnings?

Prosperity Bancshares, Inc. (NYSE:PB - Free Report) - Research analysts at Zacks Research lifted their FY2024 earnings estimates for shares of Prosperity Bancshares in a research note issued to investors on Wednesday, November 13th. Zacks Research analyst R. Department now expects that the bank will post earnings per share of $5.04 for the year, up from their prior forecast of $5.01. The consensus estimate for Prosperity Bancshares' current full-year earnings is $5.05 per share. Zacks Research also issued estimates for Prosperity Bancshares' Q1 2025 earnings at $1.33 EPS, Q2 2025 earnings at $1.40 EPS, Q3 2025 earnings at $1.47 EPS, Q4 2025 earnings at $1.48 EPS, FY2025 earnings at $5.69 EPS and Q3 2026 earnings at $1.66 EPS.

Other equities analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Prosperity Bancshares from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Barclays boosted their price target on shares of Prosperity Bancshares from $75.00 to $76.00 and gave the stock an "equal weight" rating in a report on Thursday, October 24th. Raymond James lowered shares of Prosperity Bancshares from a "strong-buy" rating to an "outperform" rating and set a $80.00 price target for the company. in a report on Tuesday, September 17th. Piper Sandler boosted their price target on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $77.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $78.96.

Prosperity Bancshares Stock Performance

Shares of PB traded up $0.35 during trading hours on Monday, hitting $82.85. The stock had a trading volume of 184,590 shares, compared to its average volume of 572,779. The firm has a 50-day moving average price of $73.79 and a 200 day moving average price of $68.40. Prosperity Bancshares has a fifty-two week low of $57.16 and a fifty-two week high of $85.13. The firm has a market capitalization of $7.89 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.23 and a beta of 0.89.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. The business had revenue of $459.00 million during the quarter, compared to analysts' expectations of $299.83 million. During the same period in the previous year, the business posted $1.20 EPS.

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 issued a $0.58 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.32 dividend on an annualized basis and a yield of 2.80%. This is an increase from Prosperity Bancshares's previous quarterly dividend of $0.56. Prosperity Bancshares's dividend payout ratio (DPR) is 47.56%.

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, November 13th. The shares were sold at an average price of $83.96, for a total value of $41,980.00. Following the completion of the transaction, the director now owns 114,315 shares of the company's stock, valued at approximately $9,597,887.40. The trade was a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.28% of the stock is owned by corporate insiders.

Institutional Trading of Prosperity Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the business. M&T Bank Corp boosted its stake in shares of Prosperity Bancshares by 0.3% during the 3rd quarter. M&T Bank Corp now owns 45,392 shares of the bank's stock valued at $3,272,000 after buying an additional 149 shares during the last quarter. US Bancorp DE boosted its stake in shares of Prosperity Bancshares by 3.4% during the 3rd quarter. US Bancorp DE now owns 4,720 shares of the bank's stock valued at $340,000 after buying an additional 153 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Prosperity Bancshares by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank's stock valued at $29,000 after buying an additional 177 shares during the last quarter. Tectonic Advisors LLC raised its position in shares of Prosperity Bancshares by 3.0% during the 3rd quarter. Tectonic Advisors LLC now owns 7,058 shares of the bank's stock valued at $509,000 after acquiring an additional 206 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in shares of Prosperity Bancshares by 1.3% during the 3rd quarter. GHP Investment Advisors Inc. now owns 17,967 shares of the bank's stock valued at $1,295,000 after acquiring an additional 228 shares in the last quarter. Institutional investors and hedge funds 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.