Equities Analysts Offer Predictions for PB Q4 Earnings

Prosperity Bancshares, Inc. (NYSE:PB) – Stock analysts at DA Davidson boosted their Q4 2024 EPS estimates for shares of Prosperity Bancshares in a research report issued to clients and investors on Thursday, December 19th. DA Davidson analyst P. Winter now expects that the bank will post earnings of $1.34 per share for the quarter, up from their previous forecast of $1.33. DA Davidson has a “Neutral” rating and a $78.00 price objective on the stock. The consensus estimate for Prosperity Bancshares’ current full-year earnings is $5.05 per share. DA Davidson also issued estimates for Prosperity Bancshares’ FY2025 earnings at $5.79 EPS.

Several other analysts also recently weighed in on the company. Barclays lifted their price objective on Prosperity Bancshares from $76.00 to $84.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wolfe Research restated a “peer perform” rating on shares of Prosperity Bancshares in a report on Thursday, December 5th. Wedbush reiterated an “outperform” rating and set a $90.00 price objective on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Truist Financial lowered shares of Prosperity Bancshares from a “buy” rating to a “hold” rating and cut their price objective for the company from $81.00 to $79.00 in a report on Friday, September 20th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $77.00 target price on shares of Prosperity Bancshares in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Prosperity Bancshares currently has a consensus rating of “Hold” and an average target price of $81.65.

Prosperity Bancshares Trading Down 1.6 %

Shares of PB stock opened at $74.11 on Friday. Prosperity Bancshares has a twelve month low of $57.16 and a twelve month high of $86.75. The stock has a fifty day simple moving average of $78.64 and a two-hundred day simple moving average of $71.45. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 15.73, a P/E/G ratio of 1.19 and a beta of 0.92.

Prosperity Bancshares (NYSE:PB) last announced its quarterly earnings data on Wednesday, October 23rd. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03. The company had revenue of $459.00 million for the quarter, compared to analysts’ expectations of $299.83 million. Prosperity Bancshares had a return on equity of 6.46% and a net margin of 25.39%. During the same quarter in the prior year, the firm earned $1.20 earnings per share.

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 given 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 3.13%. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 49.26%.

Insider Buying and Selling

In other news, Chairman H E. Timanus, Jr. sold 4,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $86.50, for a total transaction of $346,000.00. Following the sale, the chairman now directly owns 229,953 shares of the company’s stock, valued at $19,890,934.50. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ned S. Holmes sold 500 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $78.48, for a total value of $39,240.00. Following the completion of the transaction, the director now directly owns 110,815 shares in the company, valued at approximately $8,696,761.20. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,100 shares of company stock worth $1,004,719 in the last ninety days. 4.28% of the stock is owned by insiders.

Institutional Trading of Prosperity Bancshares

Several large investors have recently added to or reduced their stakes in the company. Quarry LP raised its stake in shares of Prosperity Bancshares by 533.3% in the second quarter. Quarry LP now owns 494 shares of the bank’s stock worth $30,000 after purchasing an additional 416 shares during the last quarter. Quest Partners LLC increased its holdings in Prosperity Bancshares by 3,147.1% in the 2nd quarter. Quest Partners LLC now owns 552 shares of the bank’s stock worth $34,000 after buying an additional 535 shares during the period. GAMMA Investing LLC raised its position in Prosperity Bancshares by 47.9% during the 3rd quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock worth $51,000 after buying an additional 227 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Prosperity Bancshares during the 2nd quarter valued at approximately $46,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Prosperity Bancshares by 190.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 815 shares of the bank’s stock valued at $59,000 after acquiring an additional 534 shares during the last quarter. Hedge funds and other institutional investors 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.