Q4 EPS Estimate for Prosperity Bancshares Cut by Analyst

Prosperity Bancshares, Inc. (NYSE:PB) – Investment analysts at Zacks Research dropped their Q4 2024 earnings per share (EPS) estimates for shares of Prosperity Bancshares in a report released 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 estimate 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.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share 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 company had revenue of $459.00 million during the quarter, compared to analysts’ expectations of $299.83 million. During the same quarter in the previous year, the company earned $1.20 earnings per share.

A number of other analysts have also recently commented on PB. DA Davidson cut shares of Prosperity Bancshares from a “buy” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $78.00 in a research note on Tuesday, October 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $77.00 target price on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Truist Financial cut shares of Prosperity Bancshares from a “buy” rating to a “hold” rating and reduced their target price for the company from $81.00 to $79.00 in a research report on Friday, September 20th. Compass Point upped their price objective on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $90.00 price objective on shares of Prosperity Bancshares in a report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.96.

Prosperity Bancshares Price Performance

Prosperity Bancshares stock opened at $82.09 on Friday. The stock has a market capitalization of $7.82 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.24 and a beta of 0.89. The business has a 50 day simple moving average of $73.58 and a 200-day simple moving average of $68.18. Prosperity Bancshares has a 12 month low of $57.16 and a 12 month high of $85.13.

Prosperity Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, December 13th. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.56. Prosperity Bancshares’s dividend payout ratio (DPR) is 47.56%.

Insider Activity at Prosperity Bancshares

In related news, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction on 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 sale, the director now owns 114,315 shares in the company, valued at $9,597,887.40. This represents a 0.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Prosperity Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of PB. BNP Paribas Financial Markets increased its holdings in shares of Prosperity Bancshares by 19.3% in the 1st quarter. BNP Paribas Financial Markets now owns 7,206 shares of the bank’s stock valued at $474,000 after purchasing an additional 1,166 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Prosperity Bancshares by 9.7% in the first quarter. Russell Investments Group Ltd. now owns 215,478 shares of the bank’s stock valued at $14,173,000 after buying an additional 19,113 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Prosperity Bancshares during the 1st quarter valued at approximately $2,343,000. Lord Abbett & CO. LLC boosted its stake in shares of Prosperity Bancshares by 0.4% during the 1st quarter. Lord Abbett & CO. LLC now owns 134,527 shares of the bank’s stock worth $8,849,000 after acquiring an additional 507 shares in the last quarter. Finally, Delap Wealth Advisory LLC acquired a new stake in shares of Prosperity Bancshares in the 1st quarter worth approximately $328,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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.