Prosperity Bancshares (PB) Set to Announce Earnings on Wednesday

Prosperity Bancshares (NYSE:PB - Get Free Report) is scheduled to release its earnings data before the market opens on Wednesday, April 24th. Analysts expect Prosperity Bancshares to post earnings of $1.14 per share for the quarter. Investors interested in listening to the company's conference call can do so using this link.

Prosperity Bancshares (NYSE:PB - Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The bank reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.15 by $0.04. The company had revenue of $413.00 million during the quarter, compared to the consensus estimate of $279.34 million. Prosperity Bancshares had a net margin of 26.24% and a return on equity of 6.62%. During the same quarter in the prior year, the firm earned $1.51 EPS. On average, analysts expect Prosperity Bancshares to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Prosperity Bancshares Stock Performance

Prosperity Bancshares stock traded up $0.16 during trading hours on Wednesday, reaching $59.39. 402,495 shares of the stock were exchanged, compared to its average volume of 566,418. The stock has a market cap of $5.55 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.21 and a beta of 0.93. Prosperity Bancshares has a 52-week low of $49.60 and a 52-week high of $68.88. The firm's 50 day moving average is $62.68 and its 200 day moving average is $61.30.

Institutional Investors Weigh In On Prosperity Bancshares

Hedge funds have recently modified their holdings of the company. Covestor Ltd boosted its stake in shares of Prosperity Bancshares by 83.6% during the 1st quarter. Covestor Ltd now owns 692 shares of the bank's stock worth $48,000 after purchasing an additional 315 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Prosperity Bancshares by 73.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 710 shares of the bank's stock worth $52,000 after acquiring an additional 300 shares during the last quarter. State of Wyoming boosted its position in shares of Prosperity Bancshares by 25.1% in the second quarter. State of Wyoming now owns 891 shares of the bank's stock worth $50,000 after acquiring an additional 179 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Prosperity Bancshares in the first quarter worth approximately $56,000. Finally, KBC Group NV acquired a new stake in shares of Prosperity Bancshares in the fourth quarter worth approximately $119,000. 80.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PB. Raymond James increased their price target on shares of Prosperity Bancshares from $65.00 to $80.00 and gave the company a "strong-buy" rating in a report on Friday, January 5th. Truist Financial reiterated a "buy" rating and issued a $75.00 price target on shares of Prosperity Bancshares in a report on Monday, April 1st. Morgan Stanley upgraded shares of Prosperity Bancshares from an "underweight" rating to an "equal weight" rating and set a $69.00 price target for the company in a report on Wednesday, February 7th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $70.00 price target on shares of Prosperity Bancshares in a report on Tuesday, April 9th. Finally, Barclays began coverage on shares of Prosperity Bancshares in a report on Friday, March 8th. They issued an "equal weight" rating and a $68.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Prosperity Bancshares has an average rating of "Moderate Buy" and an average target price of $68.79.

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.