Zacks Research Issues Positive Forecast for PB Earnings

Prosperity Bancshares, Inc. (NYSE:PB - Free Report) - Analysts at Zacks Research raised their Q1 2027 EPS estimates for shares of Prosperity Bancshares in a research report issued to clients and investors on Tuesday, May 27th. Zacks Research analyst R. Department now forecasts that the bank will post earnings of $1.71 per share for the quarter, up from their prior estimate of $1.69. The consensus estimate for Prosperity Bancshares' current full-year earnings is $5.83 per share. Zacks Research also issued estimates for Prosperity Bancshares' FY2027 earnings at $7.16 EPS.

Prosperity Bancshares (NYSE:PB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.02. The company had revenue of $306.68 million for the quarter, compared to analysts' expectations of $307.17 million. Prosperity Bancshares had a net margin of 26.79% and a return on equity of 6.64%. Prosperity Bancshares's revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 EPS.

PB has been the topic of a number of other research reports. Raymond James lifted their price target on shares of Prosperity Bancshares from $82.00 to $87.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Hovde Group lowered their price target on shares of Prosperity Bancshares from $90.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, April 25th. Royal Bank of Canada lowered their price target on shares of Prosperity Bancshares from $85.00 to $78.00 and set a "sector perform" rating on the stock in a report on Thursday, April 24th. Barclays reduced their price objective on shares of Prosperity Bancshares from $88.00 to $86.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Finally, Stephens lifted their price objective on shares of Prosperity Bancshares from $93.00 to $94.00 and gave the company an "overweight" rating in a research note on Thursday, January 30th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.80.

Prosperity Bancshares Trading Down 0.5%

Shares of NYSE:PB traded down $0.37 during mid-day trading on Thursday, reaching $69.75. The company had a trading volume of 581,014 shares, compared to its average volume of 594,196. The firm has a market cap of $6.64 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.94 and a beta of 0.70. The company's 50-day moving average price is $68.75 and its 200-day moving average price is $74.58. Prosperity Bancshares has a one year low of $57.16 and a one year high of $86.76.

Institutional Trading of Prosperity Bancshares

Hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC lifted its holdings in shares of Prosperity Bancshares by 487.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 376 shares of the bank's stock worth $28,000 after acquiring an additional 312 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Prosperity Bancshares by 368.5% during the 4th quarter. Jones Financial Companies Lllp now owns 520 shares of the bank's stock worth $39,000 after acquiring an additional 409 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Prosperity Bancshares during the 1st quarter worth $48,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of Prosperity Bancshares by 349.5% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 917 shares of the bank's stock worth $69,000 after acquiring an additional 713 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Prosperity Bancshares by 14.9% during the 4th quarter. Blue Trust Inc. now owns 987 shares of the bank's stock worth $71,000 after acquiring an additional 128 shares during the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Ned S. Holmes sold 500 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $70.34, for a total transaction of $35,170.00. Following the completion of the transaction, the director now directly owns 100,915 shares in the company, valued at $7,098,361.10. The trade was a 0.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 7,700 shares of company stock worth $537,759 in the last three months. Corporate insiders own 4.20% of the company's stock.

Prosperity Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.33%. Prosperity Bancshares's dividend payout ratio (DPR) is currently 44.19%.

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.