Q4 2017 Earnings Estimate for Prosperity Bancshares, Inc. (PB) Issued By FIG Partners

Prosperity Bancshares, Inc. (NYSE:PB) – Research analysts at FIG Partners lowered their Q4 2017 earnings estimates for Prosperity Bancshares in a report released on Thursday. FIG Partners analyst J. Rodis now forecasts that the bank will post earnings per share of $0.99 for the quarter, down from their previous estimate of $1.01. FIG Partners also issued estimates for Prosperity Bancshares’ Q1 2018 earnings at $0.97 EPS, Q2 2018 earnings at $1.00 EPS, Q3 2018 earnings at $1.05 EPS, Q4 2018 earnings at $1.07 EPS and FY2018 earnings at $4.09 EPS.

PB has been the subject of a number of other reports. Piper Jaffray Companies reissued a “hold” rating and set a $73.50 price objective on shares of Prosperity Bancshares in a report on Friday, July 14th. Zacks Investment Research raised Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 27th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $73.00 price objective on shares of Prosperity Bancshares in a report on Tuesday, August 29th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Prosperity Bancshares in a report on Thursday, August 10th. Finally, UBS AG cut Prosperity Bancshares to an “underperform” rating in a report on Thursday, August 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $71.05.

TRADEMARK VIOLATION WARNING: “Q4 2017 Earnings Estimate for Prosperity Bancshares, Inc. (PB) Issued By FIG Partners” was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this report on another domain, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The correct version of this report can be read at https://sportsperspectives.com/2017/11/01/q4-2017-earnings-estimate-for-prosperity-bancshares-inc-pb-issued-by-fig-partners.html.

Prosperity Bancshares (NYSE PB) traded down 1.05% during trading on Monday, hitting $65.09. 130,799 shares of the stock traded hands. Prosperity Bancshares has a one year low of $52.81 and a one year high of $77.87. The stock has a market cap of $4.52 billion, a PE ratio of 16.48 and a beta of 1.36. The company has a 50-day moving average price of $63.79 and a 200 day moving average price of $64.18.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The business had revenue of $184.96 million during the quarter, compared to analyst estimates of $185.59 million. Prosperity Bancshares had a net margin of 34.79% and a return on equity of 7.38%. During the same quarter in the prior year, the firm earned $0.99 earnings per share.

Several institutional investors have recently bought and sold shares of PB. UBS Asset Management Americas Inc. grew its position in shares of Prosperity Bancshares by 33.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 36,550 shares of the bank’s stock worth $2,548,000 after buying an additional 9,145 shares during the period. Credit Agricole S A grew its position in shares of Prosperity Bancshares by 724.6% during the 1st quarter. Credit Agricole S A now owns 6,391 shares of the bank’s stock worth $446,000 after buying an additional 5,616 shares during the period. OppenheimerFunds Inc. acquired a new position in shares of Prosperity Bancshares during the 1st quarter worth about $271,000. Teachers Advisors LLC grew its position in shares of Prosperity Bancshares by 3.1% during the 1st quarter. Teachers Advisors LLC now owns 114,228 shares of the bank’s stock worth $7,963,000 after buying an additional 3,461 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Prosperity Bancshares by 13.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,239 shares of the bank’s stock worth $156,000 after buying an additional 269 shares during the period. Institutional investors own 71.97% of the company’s stock.

In related news, Director Robert H. Steelhammer sold 5,000 shares of Prosperity Bancshares stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the director now directly owns 137,800 shares in the company, valued at $8,268,000. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.93% of the stock is owned by company insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.19%. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, December 14th. Prosperity Bancshares’s dividend payout ratio (DPR) is presently 34.43%.

About Prosperity Bancshares

Prosperity Bancshares, Inc is a financial holding company, which operates through its bank subsidiary, Prosperity Bank (the Bank). The Bank provides a range of financial products and services to small and medium-sized businesses and consumers. The Company, through the Bank, offers a range of loan and deposit products to its customers.

Earnings History and Estimates for Prosperity Bancshares (NYSE:PB)

Receive News & Ratings for Prosperity Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prosperity Bancshares Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply