Zacks Research Has Negative Outlook for PB Q4 Earnings

Prosperity Bancshares, Inc. (NYSE:PB) – Investment analysts at Zacks Research decreased their Q4 2024 earnings per share estimates for shares of Prosperity Bancshares in a research note issued to investors on Wednesday, November 13th. Zacks Research analyst R. Department now expects that the bank will earn $1.30 per share for the quarter, down from their prior 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.

A number of other analysts also recently weighed in on the stock. Truist Financial downgraded shares of Prosperity Bancshares from a “buy” rating to a “hold” rating and decreased their target price for the company from $81.00 to $79.00 in a research report on Friday, September 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $77.00 price objective on shares of Prosperity Bancshares in a research report on Thursday, October 24th. Piper Sandler upped their target price on Prosperity Bancshares from $73.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Compass Point raised their target price on Prosperity Bancshares from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Finally, Barclays boosted their price target on Prosperity Bancshares from $75.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.96.

Prosperity Bancshares Trading Up 0.5 %

Shares of PB opened at $82.50 on Friday. Prosperity Bancshares has a 12 month low of $57.16 and a 12 month high of $85.13. The company has a market capitalization of $7.86 billion, a PE ratio of 17.52, a PEG ratio of 1.24 and a beta of 0.89. The stock’s 50-day moving average price is $73.79 and its two-hundred day moving average price is $68.36.

Prosperity Bancshares (NYSE:PB) last issued 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 business had revenue of $459.00 million during 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 quarter last year, the business earned $1.20 EPS.

Prosperity Bancshares Increases Dividend

The firm also recently declared 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. This represents a $2.32 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date is Friday, December 13th. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.56. Prosperity Bancshares’s payout ratio is 47.56%.

Insiders Place Their Bets

In other news, Director Ned S. Holmes sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $83.96, for a total value of $41,980.00. Following the transaction, the director now owns 114,315 shares in the company, valued at $9,597,887.40. This trade represents a 0.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.28% of the company’s stock.

Institutional Investors Weigh In On Prosperity Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of PB. M&T Bank Corp raised its stake in shares of Prosperity Bancshares by 0.3% during the 3rd quarter. M&T Bank Corp now owns 45,392 shares of the bank’s stock worth $3,272,000 after purchasing an additional 149 shares during the period. US Bancorp DE increased its stake in shares of Prosperity Bancshares by 3.4% during the 3rd quarter. US Bancorp DE now owns 4,720 shares of the bank’s stock worth $340,000 after purchasing an additional 153 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Prosperity Bancshares by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank’s stock worth $29,000 after purchasing an additional 177 shares during the last quarter. Tectonic Advisors LLC lifted its stake in Prosperity Bancshares by 3.0% in the third quarter. Tectonic Advisors LLC now owns 7,058 shares of the bank’s stock valued at $509,000 after purchasing an additional 206 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in Prosperity Bancshares by 1.3% during the third quarter. GHP Investment Advisors Inc. now owns 17,967 shares of the bank’s stock valued at $1,295,000 after purchasing an additional 228 shares during the period. 80.69% of the stock is 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.