How did Prosperity Bancshares Inc. (PB) surprise investors with its report?

Prosperity Bancshares Inc. [PB] stock prices are up 0.42% to $64.67 at the moment. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The PB shares have lost -3.62% over the last week, with a monthly amount drifted -14.42%, and not seem to be holding up well over a long-time horizon.

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On 25, January 2023, PROSPERITY BANCSHARES, INC.® REPORTS FOURTH QUARTER 2022 EARNINGS. In a post published today on Yahoo Finance, Fourth quarter net income of $137.9 million and earnings per share (diluted) of $1.51.

From an analyst’s perspective:

Prosperity Bancshares Inc. [NYSE: PB] stock has seen the most recent analyst activity on March 13, 2023, when Janney upgraded its rating to a Buy but kept the price target unchanged to $76 for it. Previously, DA Davidson upgraded its rating to Buy on March 13, 2023, and kept the price target unchanged to $79. On February 21, 2023, upgrade upgraded it’s rating to Outperform but maintained its price target of $85 on the stock. Janney downgraded its rating to a Neutral but stick to its price target of $80 on January 26, 2023. Morgan Stanley initiated its recommendation with a Equal-Weight and recommended $69 as its price target on December 05, 2022. In a note dated April 07, 2022, Wolfe Research downgraded an Underperform rating on this stock and revised its target price from $78 to $69.

The stock price of Prosperity Bancshares Inc. [PB] has been fluctuating between $58.25 and $78.76 over the past year. Currently, Wall Street analysts expect the stock to reach $79.07 within the next 12 months. Prosperity Bancshares Inc. [NYSE: PB] shares were valued at $64.67 at the most recent close of the market. An investor can expect a potential return of 22.27% based on the average PB price forecast.

Analyzing the PB fundamentals

The most recent quarter, Prosperity Bancshares Inc. [NYSE:PB] reported sales of 308.59 billion, representing a surge of 21.70%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 62.37 points at the first support level, and at 60.07 for the second support level. However, for the 1st resistance point, the stock is sitting at 66.86, and for the 2nd resistance point, it is at 69.05.

Prosperity Bancshares Inc. [PB] reported earnings per share of $1.51 for its fiscal quarter that ended on 12/30/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.49/share, meaning a difference of $0.02 and a surprise factor of 1.30%. By comparison, the stated earnings for the previous quarter ended on 9/29/2022 were $1.49 per share as compared to estimates of $1.49 per share, a difference of $0 representing a surprise of 0.00%.

Ratios To Look Out For

Considering the valuation of this stock, the price to sales ratio is 5.39, the price to book ratio is 0.99 and the P/E (TTM) ratio is 11.29.

Transactions by insiders

We now turn our attention to insider trading, which in the past 3 months has resulted in 7 insider buyings of 6,615 shares and 0 insider sellings of 0 shares. Recent insider trading involved TIMANUS H E JR, Chairman, that happened on Mar 14 when 1000.0 shares were purchased. Chairman, TIMANUS H E JR completed a deal on Mar 13 to buy 1000.0 shares. Meanwhile, CFO Osmonov Asylbek bought 1000.0 shares on Mar 13.