Brokers Set Expectations for Prosperity Bancshares, Inc.’s FY2019 Earnings (NYSE:PB)

Prosperity Bancshares, Inc. (NYSE:PB) – Wedbush issued their FY2019 earnings per share (EPS) estimates for Prosperity Bancshares in a note issued to investors on Thursday, Zacks Investment Research reports. Wedbush analyst P. Winter forecasts that the bank will post earnings per share of $5.16 for the year.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.02. Prosperity Bancshares had a return on equity of 7.38% and a net margin of 34.79%. The business had revenue of $184.96 million for the quarter, compared to analysts’ expectations of $185.59 million. During the same quarter in the previous year, the business posted $0.99 EPS.

PB has been the topic of several other research reports. ValuEngine cut Prosperity Bancshares from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Zacks Investment Research raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 27th. SunTrust Banks reissued a “buy” rating and set a $77.00 target price on shares of Prosperity Bancshares in a report on Wednesday, November 29th. Barclays boosted their target price on Prosperity Bancshares from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $73.00 price objective on shares of Prosperity Bancshares in a report on Tuesday. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $73.27.

Prosperity Bancshares (NYSE PB) traded up $0.63 during trading hours on Friday, hitting $74.98. The stock had a trading volume of 554,595 shares, compared to its average volume of 505,738. The company has a market cap of $5,210.00, a PE ratio of 19.03, a PEG ratio of 1.61 and a beta of 1.37. Prosperity Bancshares has a fifty-two week low of $55.84 and a fifty-two week high of $77.87.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th were issued a dividend of $0.36 per share. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Thursday, December 14th. Prosperity Bancshares’s dividend payout ratio is 36.55%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PB. Janus Henderson Group PLC grew its holdings in shares of Prosperity Bancshares by 108.1% during the 3rd quarter. Janus Henderson Group PLC now owns 1,957,916 shares of the bank’s stock worth $128,701,000 after purchasing an additional 1,017,115 shares in the last quarter. Koch Industries Inc. acquired a new stake in shares of Prosperity Bancshares during the 2nd quarter worth $333,000. Deprince Race & Zollo Inc. grew its holdings in shares of Prosperity Bancshares by 59.5% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 684,927 shares of the bank’s stock worth $45,020,000 after purchasing an additional 255,384 shares in the last quarter. FMR LLC grew its holdings in shares of Prosperity Bancshares by 14.5% during the 2nd quarter. FMR LLC now owns 1,980,933 shares of the bank’s stock worth $127,255,000 after purchasing an additional 251,330 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Prosperity Bancshares by 3,568.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 190,669 shares of the bank’s stock worth $12,532,000 after purchasing an additional 185,472 shares in the last quarter. 76.80% of the stock is currently owned by institutional investors.

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Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a financial holding company, which operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. The Company, through the Bank, offers a range of loan and deposit products to its customers.

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