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.
ILLEGAL ACTIVITY NOTICE: “Brokers Set Expectations for Prosperity Bancshares, Inc.’s FY2019 Earnings (NYSE:PB)” was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this story can be read at https://www.dispatchtribunal.com/2018/01/13/wedbush-comments-on-prosperity-bancshares-inc-s-fy2019-earnings-pb.html.
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.
Get a free copy of the Zacks research report on Prosperity Bancshares (PB)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Prosperity Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prosperity Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.