Prosperity Bancshares, Inc. (NYSE:PB - Free Report) - Stock analysts at DA Davidson lowered their FY2025 earnings per share (EPS) estimates for Prosperity Bancshares in a research note issued to investors on Wednesday, October 16th. DA Davidson analyst P. Winter now anticipates that the bank will post earnings per share of $5.64 for the year, down from their previous estimate of $5.66. DA Davidson currently has a "Neutral" rating and a $78.00 target price on the stock. The consensus estimate for Prosperity Bancshares' current full-year earnings is $5.03 per share.
Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.02. Prosperity Bancshares had a net margin of 25.10% and a return on equity of 6.32%. The business had revenue of $458.95 million during the quarter, compared to analysts' expectations of $290.06 million. During the same period in the previous year, the company earned $1.21 EPS.
A number of other brokerages also recently issued reports on PB. Hovde Group upped their price target on Prosperity Bancshares from $80.50 to $82.50 and gave the company an "outperform" rating in a report on Monday, August 26th. Raymond James downgraded shares of Prosperity Bancshares from a "strong-buy" rating to an "outperform" rating and set a $80.00 target price on the stock. in a research report on Tuesday, September 17th. Royal Bank of Canada boosted their price target on shares of Prosperity Bancshares from $70.00 to $74.00 and gave the company a "sector perform" rating in a research report on Thursday, July 25th. Barclays lifted their target price on Prosperity Bancshares from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, September 27th. Finally, Stephens raised Prosperity Bancshares from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Prosperity Bancshares presently has an average rating of "Moderate Buy" and an average target price of $77.27.
View Our Latest Analysis on PB
NYSE:PB opened at $74.14 on Thursday. Prosperity Bancshares has a 1 year low of $49.60 and a 1 year high of $74.91. The stock has a market cap of $7.11 billion, a P/E ratio of 17.08, a P/E/G ratio of 1.49 and a beta of 0.89. The stock has a 50-day simple moving average of $71.71 and a 200-day simple moving average of $66.14.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Prosperity Bancshares by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the bank's stock valued at $29,000 after buying an additional 177 shares during the period. Quarry LP grew its position in Prosperity Bancshares by 533.3% during the second quarter. Quarry LP now owns 494 shares of the bank's stock worth $30,000 after buying an additional 416 shares during the period. Quest Partners LLC lifted its holdings in shares of Prosperity Bancshares by 3,147.1% in the second quarter. Quest Partners LLC now owns 552 shares of the bank's stock valued at $34,000 after purchasing an additional 535 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Prosperity Bancshares in the second quarter worth $43,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Prosperity Bancshares during the 2nd quarter worth about $46,000. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Prosperity Bancshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Prosperity Bancshares wasn't on the list.
While Prosperity Bancshares currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.