DA Davidson Has Positive Outlook for PB Q4 Earnings

Prosperity Bancshares, Inc. (NYSE:PB) – Investment analysts at DA Davidson lifted their Q4 2024 earnings per share (EPS) estimates for shares of Prosperity Bancshares in a note issued to 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 target 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.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, October 23rd. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $459.00 million for the quarter, compared to analyst estimates 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 in the prior year, the firm earned $1.20 earnings per share.

Other analysts have also recently issued reports about the company. Wedbush restated an “outperform” rating and issued a $90.00 price target on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Truist Financial downgraded shares of Prosperity Bancshares from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $81.00 to $79.00 in a research report on Friday, September 20th. Hovde Group increased their target price on shares of Prosperity Bancshares from $80.50 to $82.50 and gave the company an “outperform” rating in a research report on Monday, August 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $77.00 price target on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Finally, Raymond James lowered Prosperity Bancshares from a “strong-buy” rating to an “outperform” rating and set a $80.00 price objective on the stock. in a report on Tuesday, September 17th. One 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $82.05.

Prosperity Bancshares Trading Up 1.1 %

Shares of PB opened at $74.95 on Friday. The firm’s fifty day simple moving average is $78.69 and its 200-day simple moving average is $71.55. The firm has a market capitalization of $7.14 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.19 and a beta of 0.92. Prosperity Bancshares has a twelve month low of $57.16 and a twelve month high of $86.75.

Institutional Trading of Prosperity Bancshares

Institutional investors have recently modified their holdings of the business. Quarry LP lifted its holdings in Prosperity Bancshares by 533.3% in the second quarter. Quarry LP now owns 494 shares of the bank’s stock valued at $30,000 after acquiring an additional 416 shares during the period. Quest Partners LLC lifted its stake in shares of Prosperity Bancshares by 3,147.1% in the second quarter. Quest Partners LLC now owns 552 shares of the bank’s stock valued at $34,000 after purchasing an additional 535 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Prosperity Bancshares in the second quarter valued at about $43,000. Headlands Technologies LLC purchased a new stake in Prosperity Bancshares during the second quarter worth about $46,000. Finally, GAMMA Investing LLC grew its position in Prosperity Bancshares by 47.9% during the third quarter. GAMMA Investing LLC now owns 701 shares of the bank’s stock worth $51,000 after buying an additional 227 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $81.44, for a total value of $40,720.00. Following the completion of the sale, the director now owns 113,815 shares in the company, valued at $9,269,093.60. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman H E. Timanus, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $86.50, for a total value of $346,000.00. Following the transaction, the chairman now owns 229,953 shares in the company, valued at $19,890,934.50. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,100 shares of company stock valued at $1,004,719. 4.28% of the stock is owned by company insiders.

Prosperity Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.58 per share. The ex-dividend date is Friday, December 13th. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 3.10%. Prosperity Bancshares’s dividend payout ratio is currently 49.26%.

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.