Prosperity Bancshares Inc reports results for the quarter ended in June - Earnings Summary

Prosperity Bancshares

24/07/2024 15:21

* Prosperity Bancshares Inc  PB.N  reported quarterly
adjusted
earnings of $1.17​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 94 cents.  The mean expectation of
sixteen analysts for the quarter was for earnings of $1.18 per
share. Wall Street expected results to range from 99 cents
to $1.26 per share.
    * Revenue rose 10.4% to $304.79 million from a year ago;
analysts
expected $292.13 million. 
    * Prosperity Bancshares Inc's reported EPS for the quarter
was
$1.17​.
    * The company reported quarterly net income of $111.6
million.
    * Prosperity Bancshares Inc shares had risen by 13.8% this
quarter and gained 2.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.6%
in the last three months.​ 
    * In the last 30 days, five analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 4
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "buy"

Wall Street's median 12-month price target for Prosperity
Bancshares Inc is $70.50 
This summary was machine generated from LSEG data July 24 at
02:21 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      1.18           1.17           Missed
 Mar. 31 2024      1.16           1.18           Beat
 Dec. 31 2023      1.17           1.02           Missed
 Sep. 30 2023      1.15           1.20           Beat