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

Prosperity Bancshares

24/04/2024 15:31

* Prosperity Bancshares Inc  PB.N  reported quarterly
adjusted
earnings of $1.18​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of $1.37.  The mean expectation of sixteen analysts for the
quarter was for earnings of $1.16 per share. Wall Street
expected results to range from $1.12  to $1.21 per share.
    * Revenue fell 1.6% to $277.11 million from a year ago;
analysts
expected $277.07 million. 
    * Prosperity Bancshares Inc's reported EPS for the quarter
was
$1.18​.
    * The company reported quarterly net income of $110.43
million.
    * Prosperity Bancshares Inc shares had fallen by 4.7% this
quarter and lost 7.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.2%
in the last three months.​ 
    * In the last 30 days, four analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 10 "strong buy" or "buy," 5
"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 $73.00 
This summary was machine generated from LSEG data April 24 at
02:31 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
 Mar. 31 2024      1.16           1.18           Beat
 Dec. 31 2023      1.17           1.02           Missed
 Sep. 30 2023      1.15           1.20           Beat
 Jun. 30 2023      1.15           0.94           Missed