Prosperity Bancshares, Inc. operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts; and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural real estate, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery. In addition, it provides internet banking and other cash management, mobile banking, trust and wealth management, retail brokerage, mortgage banking, and automated telephone banking services, as well as debit and credit cards. As of December 31, 2020, the company operated 275 full-service banking locations comprising 65 in the Houston area, including The Woodlands; 30 in the South Texas area including Corpus Christi and Victoria; 65 in the Dallas/Fort Worth, Texas area; 22 in the East Texas area; 29 in the Central Texas area, including Austin and San Antonio; 34 in the West Texas area, including Lubbock, Midland-Odessa and Abilene; 16 in the Bryan/College Station area; 6 in the Central Oklahoma area; and 8 in the Tulsa, Oklahoma area, as well as 42 locations in the Dallas/Fort Worth area doing business as LegacyTexas Bank. Prosperity Bancshares, Inc. was founded in 1983 and is based in Houston, Texas.
IPO Year:
Exchange: NYSE
Website: prosperitybankusa.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/15/2024 | $80.00 → $78.00 | Buy → Neutral | DA Davidson |
| 9/24/2024 | $75.00 → $90.00 | Neutral → Outperform | Wedbush |
| 9/20/2024 | $81.00 → $79.00 | Buy → Hold | Truist |
| 9/17/2024 | $80.00 | Strong Buy → Outperform | Raymond James |
| 8/26/2024 | $80.50 → $82.50 | Outperform | Hovde Group |
| 8/5/2024 | $75.00 → $86.00 | Equal-Weight → Overweight | Morgan Stanley |
| 3/8/2024 | $68.00 | Equal Weight | Barclays |
| 2/7/2024 | $69.00 | Underweight → Equal-Weight | Morgan Stanley |
| 12/1/2023 | $68.00 | Buy | Citigroup |
| 10/5/2023 | $68.00 | Outperform → Strong Buy | Raymond James |
Board approved increase in dividend of 3.57% to $0.58 for fourth quarter 2024, representing the 21st consecutive annual increase, with a compound annual growth rate of 11.1%Net income of $127.3 million and diluted earnings per share of $1.34 for third quarter 2024Net interest margin increased 23 basis points to 2.95% compared to third quarter 2023Deposits increased $154.5 million and loans increased $60.0 million during third quarter 2024Noninterest-bearing deposits of $9.8 billion, representing 34.9% of total depositsAllowance for credit losses on loans and on off-balance sheet credit exposure of $392.0 million and allowance for credit losses on loans to total loans, excluding Warehouse Pur
HOUSTON, Oct. 16, 2024 /PRNewswire/ -- Prosperity Bancshares, Inc.® (NYSE:PB) today announced that its Board of Directors declared a quarterly common stock dividend of $0.58 per share for the fourth quarter of 2024, payable January 2, 2025, to shareholders of record as of December 13, 2024. The fourth quarter dividend represents an increase of $0.02 per share, or 3.57%, from the prior quarter. Prosperity Bancshares, Inc.® As of June 30, 2024, Prosperity Bancshares, Inc.® is a $39.762 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and small to medium sized businesses throughout Texas and Oklahoma. Founded in 19
HOUSTON, Sept. 25, 2024 /PRNewswire/ -- In conjunction with Prosperity Bancshares, Inc.® (NYSE:PB) Third Quarter 2024 Earnings Announcement, scheduled before the market opens on Wednesday, October 23, 2024, you are invited to listen to its conference call at 11:30 AM, Eastern Time (10:30 AM, Central Time) on that day. Participants will include members of Prosperity's executive management team. What: Prosperity Bancshares, Inc.® Third Quarter 2024 Earnings Conference Call When: Wednesday, October 23, 2024, at 10:30 AM (Central Time) Where: https://www.prosperitybankusa.com/Presentation-Webcasts-and-Calls How: Simply log on to the web at the address above or call 1-877-883-0383 for
Completed the merger of Lone Star State Bancshares, Inc. on April 1, 2024Net income of $111.6 million and diluted earnings per share of $1.17 for second quarter 2024Net 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 assessmentNet interest margin increased 15 basis points to 2.94% during second quarter 2024Loans increased $1.06 billion or 5.0% during second quarter 2024Loans, excluding Warehouse Purchase Program loans, increased $839.1 million or 4.1% during second quarter 2024Deposits increased $757.6 million or 2.8% during second
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 consumers and small to medium sized businesses throughout Texas and Oklahoma. Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses, and comm
HOUSTON, June 26, 2024 /PRNewswire/ -- In conjunction with Prosperity Bancshares, Inc.® (NYSE:PB) Second Quarter 2024 Earnings Announcement, scheduled before the market opens on Wednesday, July 24, 2024, you are invited to listen to its conference call at 11:30 AM, Eastern Time (10:30 AM, Central Time) on that day. Participants will include members of Prosperity's executive management team. What: Prosperity Bancshares, Inc.® Second Quarter 2024 Earnings Conference Call When: Wednesday, July 24, 2024, at 10:30 AM (Central Time) Where: https://www.prosperitybankusa.com/Presentation-Webcasts-and-Calls How: Simply log on to the web at the address above or call 1-877-883-03
Net income of $110.4 million and diluted earnings per share of $1.18 for first quarter 2024Loans, excluding Warehouse Purchase Program loans and loans acquired in the merger of First Bancshares of Texas, Inc, increased $115.8 million or 0.6% (2.4% annualized) during first quarter 2024Deposits, excluding public funds deposits, increased $109.8 million during first quarter 2024, with no brokered deposits purchasedNoninterest-bearing deposits of $9.5 billion, representing 35.1% of total depositsNet interest margin increased 4 basis points to 2.79% during first quarter 2024Allowance for credit losses on loans and on off-balance sheet credit exposure of $366.7 million and allowance for credit los
HOUSTON, April 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 second quarter of 2024, payable July 1, 2024, to shareholders of record as of June 14, 2024. Prosperity Bancshares, Inc.® As of December 31, 2023, Prosperity Bancshares, Inc.® is a $38.548 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and small to medium sized businesses throughout Texas and Oklahoma. Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses, and communi
HOUSTON, April 1, 2024 /PRNewswire/ -- Prosperity Bancshares, Inc.® ("Prosperity") (NYSE:PB), the parent company of Prosperity Bank®, today announced the completion of the merger of Lone Star State Bancshares, Inc. ("LS Bancshares") with and into Prosperity and the merger of LS Bancshares' wholly owned subsidiary, Lone Star State Bank of West Texas ("Lone Star"), headquartered in Lubbock, Texas, with and into Prosperity Bank, all effective on April 1, 2024. Under the terms of the definitive agreement, Prosperity issued 2,376,182 shares of Prosperity common stock plus approximately $64.1 million in cash for all outstanding shares and dilutive securities of LS Bancshares. Alan Lackey, Lone Sta
HOUSTON, March 19, 2024 /PRNewswire/ -- Prosperity Bancshares, Inc.® (NYSE:PB), the parent company of Prosperity Bank®, today announced that it has received all regulatory approvals necessary to complete its previously announced acquisition of Lone Star State Bancshares, Inc. ("LS Bancshares"), the parent company of Lone Star State Bank of West Texas ("Lone Star"). The merger is expected to be effective as of April 1, 2024, subject to the satisfaction or waiver of customary closing conditions described in the definitive merger agreement. "We are excited to have received the required regulatory and shareholder approvals for this transaction and look forward having the Lone Star customers an
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4 analysts have expressed a variety of opinions on Prosperity Bancshares (NYSE:PB) over the past quarter, offering a diverse set of opinions from bullish to bearish. The following table provides a quick overview of their recent ratings, highlighting the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 1 1 0 0 Last 30D 1 1 1 0 0 1M Ago 1 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 0 0 0 0 0 Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $76.0, a high estimate of $81.00, and a low estimate of $68.00. Mar
Wedbush analyst David Chiaverini maintains Prosperity Bancshares (NYSE:PB) with a Neutral and raises the price target from $63 to $75.
Piper Sandler analyst Brett Rabatin maintains Prosperity Bancshares (NYSE:PB) with a Overweight and raises the price target from $73 to $80.
Prosperity Bancshares (NYSE:PB) reported quarterly earnings of $1.22 per share which beat the analyst consensus estimate of $1.18 by 3.39 percent. The company reported quarterly sales of $304.789 million which beat the analyst consensus estimate of $292.128 million by 4.33 percent. This is a 10.37 percent increase over sales of $276.147 million the same period last year.
Truist Securities analyst Brandon King maintains Prosperity Bancshares (NYSE:PB) with a Buy and lowers the price target from $75 to $68.
Stephens & Co. analyst Matt Olney upgrades Prosperity Bancshares (NYSE:PB) from Equal-Weight to Overweight.
Prosperity Bancshares (NYSE:PB) reported quarterly earnings of $1.18 per share which beat the analyst consensus estimate of $1.16 by 1.72 percent. The company reported quarterly sales of $277.114 million which beat the analyst consensus estimate of $277.072 million by 0.02 percent. This is a 1.64 percent decrease over sales of $281.733 million the same period last year.
RBC Capital analyst Jon Arfstrom reiterates Prosperity Bancshares (NYSE:PB) with a Sector Perform and maintains $70 price target.
Prosperity Bancshares (NYSE:PB) underwent analysis by 5 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish. The table below offers a condensed view of their recent ratings, showcasing the changing sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 2 0 3 0 0 Last 30D 1 0 0 0 0 1M Ago 0 0 1 0 0 2M Ago 0 0 1 0 0 3M Ago 1 0 1 0 0 The 12-month price targets, analyzed by analysts, offer insights with an average target of $72.4, a high estimate of $80.00, and a low estimate of $68.00. This upward trend is apparent, with the current average r
Truist Securities analyst Brandon King maintains Prosperity Bancshares (NYSE:PB) with a Buy and maintains $75 price target.
DA Davidson downgraded Prosperity Bancshares from Buy to Neutral and set a new price target of $78.00 from $80.00 previously
Wedbush upgraded Prosperity Bancshares from Neutral to Outperform and set a new price target of $90.00 from $75.00 previously
Truist downgraded Prosperity Bancshares from Buy to Hold and set a new price target of $79.00 from $81.00 previously
Raymond James downgraded Prosperity Bancshares from Strong Buy to Outperform and set a new price target of $80.00
Hovde Group reiterated coverage of Prosperity Bancshares with a rating of Outperform and set a new price target of $82.50 from $80.50 previously
Morgan Stanley upgraded Prosperity Bancshares from Equal-Weight to Overweight and set a new price target of $86.00 from $75.00 previously
Barclays initiated coverage of Prosperity Bancshares with a rating of Equal Weight and set a new price target of $68.00
Morgan Stanley upgraded Prosperity Bancshares from Underweight to Equal-Weight and set a new price target of $69.00
Citigroup initiated coverage of Prosperity Bancshares with a rating of Buy and set a new price target of $68.00
Raymond James upgraded Prosperity Bancshares from Outperform to Strong Buy and set a new price target of $68.00
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HOUSTON, Oct. 16, 2024 /PRNewswire/ -- Prosperity Bancshares, Inc.® (NYSE:PB) today announced that its Board of Directors declared a quarterly common stock dividend of $0.58 per share for the fourth quarter of 2024, payable January 2, 2025, to shareholders of record as of December 13, 2024. The fourth quarter dividend represents an increase of $0.02 per share, or 3.57%, from the prior quarter. Prosperity Bancshares, Inc.® As of June 30, 2024, Prosperity Bancshares, Inc.® is a $39.762 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and small to medium sized businesses throughout Texas and Oklahoma. Founded in 19
HOUSTON, Sept. 25, 2024 /PRNewswire/ -- In conjunction with Prosperity Bancshares, Inc.® (NYSE:PB) Third Quarter 2024 Earnings Announcement, scheduled before the market opens on Wednesday, October 23, 2024, you are invited to listen to its conference call at 11:30 AM, Eastern Time (10:30 AM, Central Time) on that day. Participants will include members of Prosperity's executive management team. What: Prosperity Bancshares, Inc.® Third Quarter 2024 Earnings Conference Call When: Wednesday, October 23, 2024, at 10:30 AM (Central Time) Where: https://www.prosperitybankusa.com/Presentation-Webcasts-and-Calls How: Simply log on to the web at the address above or call 1-877-883-0383 for
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 consumers and small to medium sized businesses throughout Texas and Oklahoma. Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses, and comm
HOUSTON, June 26, 2024 /PRNewswire/ -- In conjunction with Prosperity Bancshares, Inc.® (NYSE:PB) Second Quarter 2024 Earnings Announcement, scheduled before the market opens on Wednesday, July 24, 2024, you are invited to listen to its conference call at 11:30 AM, Eastern Time (10:30 AM, Central Time) on that day. Participants will include members of Prosperity's executive management team. What: Prosperity Bancshares, Inc.® Second Quarter 2024 Earnings Conference Call When: Wednesday, July 24, 2024, at 10:30 AM (Central Time) Where: https://www.prosperitybankusa.com/Presentation-Webcasts-and-Calls How: Simply log on to the web at the address above or call 1-877-883-03
Net income of $110.4 million and diluted earnings per share of $1.18 for first quarter 2024Loans, excluding Warehouse Purchase Program loans and loans acquired in the merger of First Bancshares of Texas, Inc, increased $115.8 million or 0.6% (2.4% annualized) during first quarter 2024Deposits, excluding public funds deposits, increased $109.8 million during first quarter 2024, with no brokered deposits purchasedNoninterest-bearing deposits of $9.5 billion, representing 35.1% of total depositsNet interest margin increased 4 basis points to 2.79% during first quarter 2024Allowance for credit losses on loans and on off-balance sheet credit exposure of $366.7 million and allowance for credit los
HOUSTON, April 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 second quarter of 2024, payable July 1, 2024, to shareholders of record as of June 14, 2024. Prosperity Bancshares, Inc.® As of December 31, 2023, Prosperity Bancshares, Inc.® is a $38.548 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and small to medium sized businesses throughout Texas and Oklahoma. Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses, and communi
HOUSTON, April 1, 2024 /PRNewswire/ -- Prosperity Bancshares, Inc.® ("Prosperity") (NYSE:PB), the parent company of Prosperity Bank®, today announced the completion of the merger of Lone Star State Bancshares, Inc. ("LS Bancshares") with and into Prosperity and the merger of LS Bancshares' wholly owned subsidiary, Lone Star State Bank of West Texas ("Lone Star"), headquartered in Lubbock, Texas, with and into Prosperity Bank, all effective on April 1, 2024. Under the terms of the definitive agreement, Prosperity issued 2,376,182 shares of Prosperity common stock plus approximately $64.1 million in cash for all outstanding shares and dilutive securities of LS Bancshares. Alan Lackey, Lone Sta
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)Loans, excluding Warehouse Purchase Program loans, increased $2.259 billion or 12.5% during 2023Loans, excluding Warehouse Purchase Program loans and loans acquired in the merger of First Bancshares of Texas, Inc, increased $882.7 million or 4.9% during 2023Noninterest-bearing deposits of $9.8 billion, representing 36.0% of total depositsBorrowings decreased by $525.0 million during the fourth quarter 2023Net interest margin increased 3 basis
HOUSTON, Jan. 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 first quarter of 2024, payable April 1, 2024, to shareholders of record as of March 15, 2024. Prosperity Bancshares, Inc.® As of September 30, 2023, Prosperity Bancshares, Inc.® is a $39.296 billion Houston, Texas based regional financial holding company providing personal banking services and investments to consumers and small to medium sized businesses throughout Texas and Oklahoma. Founded in 1983, Prosperity believes in a community banking philosophy, taking care of customers, businesses, and commun
HOUSTON, Jan. 16, 2024 /PRNewswire/ -- Prosperity Bancshares, Inc.® (the "Company") (NYSE:PB), the parent company of Prosperity Bank®, today announced that its Board of Directors authorized a stock repurchase program under which the Company may repurchase up to 5%, or approximately 4.7 million shares, of its outstanding common stock over a one-year period expiring on January 16, 2025, at the discretion of management. Repurchases under this program may be made from time to time in open market transactions, and pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Repurchases under this program also may be made in tr