Prosperity Bancshares Posts 3Q EPS of $1.18
PB is trading near its 52-week low of $62.58 (11% above the low).
Summary
Prosperity Bancshares reported third-quarter EPS of $1.18, with core EPS of $1.67 excluding merger costs. The reported figure is down from the $1.67 diluted EPS booked in Q2, though the prior quarter included items tied to the $2.0 billion Stellar Bancorp acquisition completed earlier this year. Third-quarter net income rose on mergers, and the company raised its dividend. The headline carries no revenue, margin, or charge-off detail, so the quality of the quarter is not yet clear. Watch the full release for net interest margin and whether the year-to-date charge-off trend that reached $43.5M through Q2 continued.
At the time of this announcement, PB was trading at $69.60 on NYSE in the Finance sector, with a market capitalization of approximately $8.4B. The 52-week trading range was $62.58 to $77.20. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.