The reported revenue represents a surprise of +5.08% over the Zacks Consensus Estimate of $290.06 million. With the consensus EPS estimate being $1.20, the EPS surprise was +1.67%. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Prosperity Bancshares performed in the just reported quarter in terms of the metrics most wide ...

This quarterly report represents an earnings surprise of 1.67%. A quarter ago, it was expected that this financial holding company would post earnings of $1.15 per share when it actually produced earnings of $1.18, delivering a surprise of 2.61%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. While Prosperity Bancshares has underperformed the market so far t ...

Prosperity Bancshares, Inc. Cullen Zalman Prosperity Bank Plaza Executive Vice President – Banking and Corporate Activities 4295 San Felipe 281.269.7199 Houston, Texas 77027 cullen.zalman@prosperitybankusa.com PROSPERITY BANCSHARES, INC. ® REPORTS SECOND QUARTER 2024 EARNINGS Exhibit 99.1 ® FOR IMMEDIATE RELEASE PRESS RELEASE For more information contact: HOUSTON, July 24, 2024. Prosperity Bancshares, Inc. ® (NYSE: PB), the parent company of Prosperity Bank ® (collectively, "Prosperity"), reported net incom ...

Completed the merger of Lone Star State Bancshares, Inc. on April 1, 2024 Net income of $111.6 million and diluted earnings per share of $1.17 for second quarter 2024 Net income of $116.6 million(1) and diluted earnings per share of $1.22(1), excluding merger related provision and expenses, gain on Visa Class B-1 stock exchange net of investment securities sales and FDIC special assessment Net interest margin increased 15 basis points to 2.94% during second quarter 2024 Loans increased $1.06 billion or 5.0% ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? Prosperity Bancshares (PB) , which belongs to the Zacks Banks - Southwest industry, could be a great candidate to consider. This financial holding company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 1.73%. For the most recent quarter, Prosp ...

HOUSTON, July 17, 2024 /PRNewswire/ -- Prosperity Bancshares, Inc.® (NYSE: PB) today announced that its Board of Directors declared a quarterly common stock dividend of $0.56 per share for the third quarter of 2024, payable October 1, 2024, to shareholders of record as of September 13, 2024. Prosperity Bancshares, Inc.® As of March 31, 2024, Prosperity Bancshares, Inc.® is a $38.757 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consume ...

Core Viewpoint - The upcoming earnings report for Prosperity Bancshares, scheduled for July 24, 2024, is critical for stock movement, with expectations of revenue growth and potential earnings surprises influencing investor sentiment [1][9]. Financial Estimates - Revenues for Prosperity Bancshares are projected at $290.55 million, reflecting a year-over-year increase of 5.2% [2]. - The consensus EPS estimate for the quarter has been revised down by 0.45% over the last 30 days, indicating a reassessment by analysts [2]. - The expected quarterly earnings per share (EPS) is $1.20, representing a year-over-year decline of 0.8% [11]. Earnings Surprise Potential - The Zacks Earnings ESP for Prosperity Bancshares is +0.56%, suggesting a likelihood of beating the consensus EPS estimate [15][16]. - Historically, the company has beaten consensus EPS estimates in the last four quarters, indicating a strong track record of positive surprises [18]. Analyst Sentiment - The Zacks Rank for Prosperity Bancshares is currently 3 (Hold), which may influence the stock's performance [5]. - Analysts have recently become more optimistic about the company's earnings prospects, as indicated by the positive Earnings ESP [15]. Industry Context - In comparison, Banc of California is expected to report a significant year-over-year decline in earnings of 40.6%, with revenues projected at $271.42 million, up 258.7% from the previous year [20].

Prosperity Bancshares remains focused on its organic growth strategy. Though the company's net revenues dipped in 2023 and in the first quarter of 2024, the metric experienced a compound annual growth rate (CAGR) of 7.9% over the four years ended 2023. The growth was primarily driven by solid loan balances, strategic buyouts, and modest fee income growth. Similarly, earlier this year, WaFd Inc. (WAFD) acquired Luther Burbank Corporation. The acquisition will be almost 8% accretive to WAFD's earnings in fisc ...

Prosperity Bancshares in Focus Earnings growth looks solid for PB for this fiscal year. The Zacks Consensus Estimate for 2024 is $5 per share, representing a year-over-year earnings growth rate of 0.60%. Cash flow can come from bond interest, interest from other types of investments, and of course, dividends. A dividend is that coveted distribution of a company's earnings paid out to shareholders, and investors often view it by its dividend yield, a metric that measures the dividend as a percent of the curr ...

Prosperity Bancshares (NYSE:PB) is a Houston-based bank and was founded in 1983. Of the many small- to medium-sized banks that I deal with, I think this one is among the most attractive in terms of dividend. It has been growing its dividend for 20 years in a row, and the average cost of deposits is very low compared to that paid by peers. Since my last article, the net interest margin is finally recovering, and in the coming months the buyback may continue. The only negative note is the low growth in the lo ...