Prosperity Bancshares Inc. [PB] stock prices are up 4.17% to $65.01 at the moment. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The PB shares have gain 3.49% over the last week, with a monthly amount glided 3.63%, and seem to be holding up well over a long-time horizon.
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On 24, January 2024, PROSPERITY BANCSHARES, INC.® REPORTS FOURTH QUARTER 2023 EARNINGS. In a post published today on Yahoo Finance, Net income of $95.5 million and diluted earnings per share of $1.02 for fourth quarter 2023; excluding the FDIC special assessment of $19.9 million and merger related expenses, net income was $111.4 million(1) and diluted earnings per share was $1.19(1).
From an analyst’s perspective:
Prosperity Bancshares Inc. [NYSE: PB] stock has seen the most recent analyst activity on February 07, 2024, when Morgan Stanley upgraded its rating to a Equal-Weight but kept the price target unchanged to $69 for it. Previously, Citigroup started tracking the stock with Buy rating on December 01, 2023, and set its price target to $68. On October 05, 2023, upgrade upgraded it’s rating to Strong Buy but maintained its price target of $68 on the stock. UBS started tracking the stock assigning a Buy rating and suggested a price target of $64 on September 28, 2023. Hovde Group upgraded its rating to a Outperform but $66.50 remained the price target by the analyst firm on September 18, 2023. Morgan Stanley downgraded its rating to Underweight for this stock on May 16, 2023, and upped its price target to $60. In a note dated May 03, 2023, Wolfe Research upgraded an Outperform rating on this stock but restated the target price of $68.
The stock price of Prosperity Bancshares Inc. [PB] has been fluctuating between $49.60 and $72.75 over the past year. Currently, Wall Street analysts expect the stock to reach $69.67 within the next 12 months. Prosperity Bancshares Inc. [NYSE: PB] shares were valued at $65.01 at the most recent close of the market. An investor can expect a potential return of 7.17% based on the average PB price forecast.
Analyzing the PB fundamentals
The Prosperity Bancshares Inc. [NYSE:PB] reported sales of 1.60B for trailing twelve months, representing a surge of 20.00%. Gross Profit Margin for this corporation currently stands at 1.0% with Operating Profit Margin at 0.46%, Pretax Profit Margin comes in at 0.44%, and Net Profit Margin reading is 0.34%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.06 and Total Capital is 0.03. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.57.
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 63.02 points at the first support level, and at 61.02 for the second support level. However, for the 1st resistance point, the stock is sitting at 66.08, and for the 2nd resistance point, it is at 67.14.
Prosperity Bancshares Inc. [PB] reported earnings per share of $1.02 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.17/share, meaning a difference of -$0.15 and a surprise factor of -12.80%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.2 per share as compared to estimates of $1.15 per share, a difference of $0.05 representing a surprise of 4.30%.
Ratios To Look Out For
It’s worth pointing out that Prosperity Bancshares Inc. [NYSE:PB]’s Current Ratio is 0.04. Considering the valuation of this stock, the price to sales ratio is 3.81, the price to book ratio is 0.86 and price to earnings (TTM) ratio is 14.39.
Transactions by insiders
Recent insider trading involved LORD L. JACK, Director, that happened on Dec 11 when 2100.0 shares were sold. Director, LORD L. JACK completed a deal on May 01 to buy 5000.0 shares. Meanwhile, Chairman TIMANUS H E JR bought 1000.0 shares on Mar 14.
