Prosperity Bancshares (PB) Expected to Beat Earnings Estimates: What to Know Ahead of Q2 Release

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].