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Prosperity Bancshares Inc   (PB)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 
Price: $61.0100 $-0.12 -0.196%
Day's High: $61.65 Week Perf: -2.83 %
Day's Low: $ 60.39 30 Day Perf: -3.27 %
Volume (M): 238 52 Wk High: $ 68.88
Volume (M$): $ 14,490 52 Wk Avg: $60.01
Open: $61.65 52 Wk Low: $49.60



 Market Capitalization (Millions $) 5,705
 Shares Outstanding (Millions) 94
 Employees 3,037
 Revenues (TTM) (Millions $) 1,111
 Net Income (TTM) (Millions $) 462
 Cash Flow (TTM) (Millions $) -90
 Capital Exp. (TTM) (Millions $) 38

Prosperity Bancshares Inc

Prosperity Bancshares, Inc.®, a Texas corporation, was formed in 1983 as a vehicle to acquire the former Allied Bank in Edna, Texas, which was chartered in 1949 as The First National Bank of Edna and is now known as Prosperity Bank. The Company is a registered financial holding company that derives substantially all of its revenues and income from the operation of its bank subsidiary, Prosperity Bank® (“Prosperity Bank®” or the “Bank”). The Bank provides a wide array of financial products and services to small and medium-sized businesses and consumers. As of December 31, 2015, the Bank operated 241 full service banking locations; 60 in the Houston area, including The Woodlands; 30 in the South Texas area, including Corpus Christi and Victoria; 36 in the Dallas/Fort Worth 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. The Company’s principal executive office is located at Prosperity Bank Plaza, 4295 San Felipe in Houston, Texas and its telephone number is (713) 693-9300. The Company’s website address is www.prosperitybankusa.com.

The Company’s market consists of the communities served by its banking centers. The diverse nature of the economies in each local market served by the Company provides the Company with a varied customer base and allows the Company to spread its lending risk throughout a number of different industries including professional service firms and their principals, manufacturing, tourism, recreation, petrochemicals, farming and ranching. The Company’s market areas outside of Houston, Dallas, Corpus Christi, San Antonio, Lubbock, Austin, Tulsa and Oklahoma City are dominated by either small community banks or branches of larger regional banks. Management believes that the Company, through its responsive customer service and community banking philosophy, combined with the sophistication of a larger regional bank holding company, has a competitive advantage in its market areas and excellent growth opportunities through acquisitions, new banking center locations and additional business development.


Operating under a community banking philosophy, the Company seeks to develop broad customer relationships based on service and convenience while maintaining its conservative approach to lending and sound asset quality. The Company has grown through a combination of internal growth, the acquisition of community banks and branches of banks and the opening of new banking centers. Utilizing a low cost of funds and employing stringent cost controls, the Company has been profitable in every year of its existence, including the periods of adverse economic conditions in Texas.

The Company, through the Bank, offers a variety of traditional loan and deposit products to its customers, which consist primarily of consumers and small and medium-sized businesses. The Bank tailors its products to the specific needs of customers in a given market.

Continue Community Banking Emphasis. Although the Company has significantly grown in the last several years, it intends to continue operating as a community banking organization focused on meeting the specific needs of consumers and small and medium-sized businesses in its market areas. The Company provides a high degree of responsiveness combined with a wide variety of banking products and services. The Company staffs its banking centers with experienced bankers with lending expertise in the specific industries found in the given community, and gives them authority to make certain pricing and credit decisions, avoiding the bureaucratic structure of larger banks.


Expand Market Share Through Internal Growth and a Disciplined Acquisition Strategy. The Company intends to continue seeking opportunities, both inside and outside its existing markets, to expand either by acquiring existing banks or branches of banks or by establishing new banking centers. All of the Company’s acquisitions have been accretive to earnings within 12 months after acquisition date and generally have supplied the Company with relatively low-cost deposits which have been used to fund the Company’s lending and investing activities. However, the Company makes no guarantee that future acquisitions, if any, will be accretive to earnings within any particular time period. Factors used by the Company to evaluate expansion opportunities include (1) the similarity in management and operating philosophies, (2) whether the acquisition will be accretive to earnings and enhance shareholder value, (3) the ability to improve the efficiency ratio through economies of scale, (4) whether the acquisition will strategically expand the Company’s geographic footprint, and (5) the opportunity to enhance the Company’s market presence in existing market areas.



   Company Address: Prosperity Bank Plaza Houston 77027 TX
   Company Phone Number: 269-7199   Stock Exchange / Ticker: NYSE PB
   


Customers Net Income fell by PB's Customers Net Profit Margin fell to

-20.61 %

7.87 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BK   -3.67%    
BPOP   -2.17%    
CFG   -1.55%    
FCNCA        1.41% 
FITB   -4.84%    
MTB   -4.06%    
• View Complete Report
   



Prosperity Bancshares Inc

Prosperity Bancshares Inc Faces Slight Downturn in Revenue, Q3 2023

Prosperity Bancshares Inc, a regional bank company, recently reported a weak fiscal period, with a decrease in income and revenue. Income fell by 19.46% to $1.20 per share, and revenue decreased by 5.789% to $278.27 million year-on-year. However, this performance stands in contrast to the average regional bank sector, which saw a 0.67% rise in revenue from the third quarter of 2022 to the third quarter of 2023. Sequentially, Prosperity Bancshares Inc's profits grew by 27.66% from $0.94 per share, and revenue advanced by 8.02% from $257.61 million.
In the most recent fiscal period, net earnings of Prosperity Bancshares Inc fell by 17.38% to $112.208 million compared to $135.820 million in the corresponding period the previous year. The company's operating margin also declined to 51.25%, and the net margin shrank to 40.32%. Operating earnings fell by 17.64% to $142.61 million, causing the operating margin to decrease from 58.62% in the third quarter of 2022.

Prosperity Bancshares Inc

Dramatic Slip in 2Q Earnings for Prosperity Bancshares Inc!



In the second quarter of 2023, Prosperity Bancshares Inc experienced a significant decrease in earnings per share, falling by -32.86% to $0.94 per share. This decline can be attributed to a -9.948% decrease in revenue, which dropped to $257.61 million. When compared to the previous financial reporting period, where the company achieved a revenue of $281.73 million and bottom line of $1.37 per share, it is evident that Prosperity Bancshares Inc faced challenges in Q2 2023.
Revenue Decline and Profitability:
The Regional Banks sector witnessed an overall revenue gain, making Prosperity Bancshares Inc's decline all the more noteworthy. The company's earnings in Q2 2023 amounted to $86.938 million, representing a -32.34% decrease compared to $128.490 million during the same period in the previous year.

Prosperity Bancshares Inc

Prosperity Bancshares Inc Surges Ahead with Robust Revenue Growth in Q1 2023 Earnings Season

Investors with an eye on the stock market will be pleased to hear that Prosperity Bancshares Inc has published moderate growth in revenue, profits, and net income for the financial period ending March 31, 2023. The company's revenue increased by 2.424% to reach a sum of $281.73 million, while its profits grew by an impressive 3.01% to $1.37 year on year.
While revenue decreased slightly by -4.127% from the preceding period, the company's net income actually increased by 1.94% from net earnings of $122.326 million reported during the same period a year ago. Despite a decrease of -9.34% in income EPS from $1.51 per share, the overall picture is one of steady growth.
Prosperity Bancshares Inc has actively worked to improve its sales in the last fiscal year, resulting in a slight easing of net margin to 44.26%. However, operating earnings actually rose by 2.27% to reach $158.733 million.






 

Prosperity Bancshares Inc's Segments
 
 
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