Zacks Research Analysts Lower Earnings Estimates for PB

Prosperity Bancshares, Inc. (NYSE:PB) – Investment analysts at Zacks Research dropped their Q4 2024 earnings per share estimates for shares of Prosperity Bancshares in a research report issued to clients and investors on Wednesday, November 13th. Zacks Research analyst R. Department now anticipates that the bank will post earnings per share of $1.30 for the quarter, down from their previous forecast of $1.33. The consensus estimate for Prosperity Bancshares’ current full-year earnings is $5.05 per share. Zacks Research also issued estimates for Prosperity Bancshares’ Q2 2026 earnings at $1.59 EPS and FY2026 earnings at $6.48 EPS.

Several other research analysts have also recently weighed in on PB. Raymond James cut Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price objective for the company. in a research report on Tuesday, September 17th. Hovde Group upped their price target on shares of Prosperity Bancshares from $80.50 to $82.50 and gave the company an “outperform” rating in a research note on Monday, August 26th. Truist Financial downgraded Prosperity Bancshares from a “buy” rating to a “hold” rating and dropped their target price for the stock from $81.00 to $79.00 in a report on Friday, September 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $77.00 price target on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Finally, Wedbush restated an “outperform” rating and set a $90.00 target price on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $78.96.

Prosperity Bancshares Stock Performance

Shares of PB opened at $82.50 on Friday. The firm has a market cap of $7.86 billion, a P/E ratio of 17.52, a PEG ratio of 1.24 and a beta of 0.89. Prosperity Bancshares has a twelve month low of $57.16 and a twelve month high of $85.13. The firm’s 50 day moving average price is $73.79 and its two-hundred day moving average price is $68.31.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company earned $1.20 EPS.

Prosperity Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.58 dividend. This is a boost from Prosperity Bancshares’s previous quarterly dividend of $0.56. The ex-dividend date is Friday, December 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.81%. Prosperity Bancshares’s dividend payout ratio is 47.56%.

Insider Buying and Selling at Prosperity Bancshares

In other news, Director Ned S. Holmes sold 500 shares of Prosperity Bancshares stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $83.96, for a total transaction of $41,980.00. Following the sale, 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 is accessible through this hyperlink. Company insiders own 4.28% of the company’s stock.

Hedge Funds Weigh In On Prosperity Bancshares

Several large investors have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in Prosperity Bancshares by 3.0% during the 2nd quarter. Victory Capital Management Inc. now owns 6,359,165 shares of the bank’s stock valued at $388,799,000 after purchasing an additional 184,453 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Prosperity Bancshares by 14.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,287,615 shares of the bank’s stock valued at $262,141,000 after acquiring an additional 532,241 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Prosperity Bancshares by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,183,295 shares of the bank’s stock valued at $85,280,000 after buying an additional 6,518 shares in the last quarter. Bank of New York Mellon Corp increased its position in Prosperity Bancshares by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 935,420 shares of the bank’s stock worth $57,192,000 after purchasing an additional 19,224 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in shares of Prosperity Bancshares by 4.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 835,565 shares of the bank’s stock worth $60,219,000 after buying an additional 36,480 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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.