Prosperity Bancshares, Inc. (NYSE:PB) – Investment analysts at Truist Securiti lifted their Q2 2021 earnings estimates for shares of Prosperity Bancshares in a report issued on Wednesday, April 28th. Truist Securiti analyst J. Demba now expects that the bank will post earnings per share of $1.43 for the quarter, up from their prior forecast of $1.32. Truist Securiti also issued estimates for Prosperity Bancshares’ Q3 2021 earnings at $1.37 EPS, Q4 2021 earnings at $1.37 EPS, FY2021 earnings at $5.60 EPS, Q1 2022 earnings at $1.31 EPS, Q2 2022 earnings at $1.36 EPS, Q3 2022 earnings at $1.42 EPS, Q4 2022 earnings at $1.45 EPS and FY2022 earnings at $5.54 EPS.
Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings data on Tuesday, April 27th. The bank reported $1.44 EPS for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.06. Prosperity Bancshares had a return on equity of 8.42% and a net margin of 37.67%. During the same period last year, the company earned $1.39 EPS.
Shares of PB opened at $75.92 on Monday. Prosperity Bancshares has a 52-week low of $48.80 and a 52-week high of $83.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.80 and a current ratio of 0.81. The business’s 50 day moving average price is $76.11 and its two-hundred day moving average price is $69.47. The firm has a market cap of $7.06 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.37 and a beta of 1.37.
A number of large investors have recently made changes to their positions in PB. Marshall Wace North America L.P. bought a new position in Prosperity Bancshares in the 1st quarter valued at $35,000. OLD Mission Capital LLC purchased a new position in shares of Prosperity Bancshares during the 3rd quarter valued at $1,556,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Prosperity Bancshares by 1.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 71,643 shares of the bank’s stock valued at $3,713,000 after buying an additional 1,095 shares during the last quarter. Sei Investments Co. lifted its holdings in Prosperity Bancshares by 4.3% during the 3rd quarter. Sei Investments Co. now owns 71,588 shares of the bank’s stock worth $3,710,000 after purchasing an additional 2,956 shares in the last quarter. Finally, Huntington National Bank raised its holdings in shares of Prosperity Bancshares by 161.6% in the 4th quarter. Huntington National Bank now owns 2,307 shares of the bank’s stock valued at $160,000 after acquiring an additional 1,425 shares in the last quarter. Hedge funds and other institutional investors own 76.72% of the company’s stock.
In related news, Director George A. Fisk sold 1,733 shares of the company’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $79.31, for a total transaction of $137,444.23. Following the completion of the sale, the director now owns 94,011 shares in the company, valued at $7,456,012.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George A. Fisk sold 2,000 shares of the company’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $78.17, for a total value of $156,340.00. Following the sale, the director now owns 95,744 shares of the company’s stock, valued at approximately $7,484,308.48. The disclosure for this sale can be found here. Corporate insiders own 4.01% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Investors of record on Tuesday, June 15th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, June 14th. This represents a $1.96 annualized dividend and a yield of 2.58%. Prosperity Bancshares’s dividend payout ratio (DPR) is currently 39.04%.
About Prosperity Bancshares
Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts; and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural real estate, 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; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.
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