Wedbush Forecasts Reduced Earnings for Prosperity Bancshares

Prosperity Bancshares, Inc. (NYSE:PB) – Research analysts at Wedbush lowered their FY2026 EPS estimates for shares of Prosperity Bancshares in a report released on Tuesday, November 5th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings per share of $6.40 for the year, down from their previous estimate of $6.45. Wedbush currently has a “Outperform” rating and a $90.00 target price on the stock. The consensus estimate for Prosperity Bancshares’ current full-year earnings is $5.05 per share.

PB has been the topic of a number of other research reports. Raymond James cut Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 target price on the stock. in a report on Tuesday, September 17th. StockNews.com lowered shares of Prosperity Bancshares from a “hold” rating to a “sell” rating in a research note on Wednesday, August 28th. Truist Financial downgraded shares of Prosperity Bancshares from a “buy” rating to a “hold” rating and lowered their target price for the company from $81.00 to $79.00 in a research note on Friday, September 20th. Hovde Group lifted their price target on shares of Prosperity Bancshares from $80.50 to $82.50 and gave the stock an “outperform” rating in a research report on Monday, August 26th. Finally, Morgan Stanley upgraded shares of Prosperity Bancshares from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $75.00 to $86.00 in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.96.

Prosperity Bancshares Stock Down 2.5 %

NYSE:PB opened at $78.83 on Thursday. Prosperity Bancshares has a 12-month low of $54.38 and a 12-month high of $81.11. The stock’s fifty day simple moving average is $72.69 and its 200-day simple moving average is $67.53. The firm has a market capitalization of $7.51 billion, a P/E ratio of 16.74, a P/E/G ratio of 1.08 and a beta of 0.89.

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, beating analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $459.00 million for the quarter, compared to analysts’ expectations of $299.83 million. Prosperity Bancshares had a net margin of 25.39% and a return on equity of 6.46%. During the same period last year, the firm earned $1.20 earnings per share.

Prosperity Bancshares Increases Dividend

The company 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 dividend of $0.58 per share. This is a boost from Prosperity Bancshares’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a dividend yield of 2.94%. The ex-dividend date is Friday, December 13th. Prosperity Bancshares’s dividend payout ratio is currently 49.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its position in Prosperity Bancshares by 3.0% in the second 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Prosperity Bancshares by 14.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,287,615 shares of the bank’s stock worth $262,141,000 after buying an additional 532,241 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Prosperity Bancshares by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 935,420 shares of the bank’s stock valued at $57,192,000 after acquiring an additional 19,224 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in shares of Prosperity Bancshares by 4.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 835,565 shares of the bank’s stock valued at $60,219,000 after acquiring an additional 36,480 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in Prosperity Bancshares by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 818,744 shares of the bank’s stock worth $59,007,000 after acquiring an additional 6,972 shares in the last quarter. 80.69% of the stock is currently owned by 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.