Prosperity Bancshares (PB - Free Report) reported $281.73 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 2.4%. EPS of $1.37 for the same period compares to $1.33 a year ago.
The reported revenue represents a surprise of -1.15% over the Zacks Consensus Estimate of $285.02 million. With the consensus EPS estimate being $1.33, the EPS surprise was +3.01%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Prosperity Bancshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 43.68% compared to the 43.26% average estimate based on seven analysts.
- Net Interest Margin (Tax Equivalent Basis): 2.93% compared to the 3.01% average estimate based on seven analysts.
- Net charge-offs to average loans: -0.01% versus the six-analyst average estimate of 0.06%.
- Average balance - Total interest-earning assets: $33.87 billion compared to the $33.41 billion average estimate based on four analysts.
- Total Noninterest Income: $38.27 million versus $35.43 million estimated by seven analysts on average.
- Net Interest Income: $243.47 million versus the six-analyst average estimate of $249.58 million.
- Net Interest Income (Tax Equivalent Basis): $244.30 million versus $250.08 million estimated by five analysts on average.
- Service charges on deposit accounts: $5.93 million compared to the $6.02 million average estimate based on three analysts.
- Nonsufficient funds (NSF) fees: $8.10 million versus the three-analyst average estimate of $8.25 million.
- Credit card, debit card and ATM card income: $8.67 million versus the three-analyst average estimate of $8.68 million.
View all Key Company Metrics for Prosperity Bancshares here>>>Shares of Prosperity Bancshares have returned -5.1% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Prosperity Bancshares (PB - Free Report) reported $281.73 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 2.4%. EPS of $1.37 for the same period compares to $1.33 a year ago.
The reported revenue represents a surprise of -1.15% over the Zacks Consensus Estimate of $285.02 million. With the consensus EPS estimate being $1.33, the EPS surprise was +3.01%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Prosperity Bancshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 43.68% compared to the 43.26% average estimate based on seven analysts.
- Net Interest Margin (Tax Equivalent Basis): 2.93% compared to the 3.01% average estimate based on seven analysts.
- Net charge-offs to average loans: -0.01% versus the six-analyst average estimate of 0.06%.
- Average balance - Total interest-earning assets: $33.87 billion compared to the $33.41 billion average estimate based on four analysts.
- Total Noninterest Income: $38.27 million versus $35.43 million estimated by seven analysts on average.
- Net Interest Income: $243.47 million versus the six-analyst average estimate of $249.58 million.
- Net Interest Income (Tax Equivalent Basis): $244.30 million versus $250.08 million estimated by five analysts on average.
- Service charges on deposit accounts: $5.93 million compared to the $6.02 million average estimate based on three analysts.
- Nonsufficient funds (NSF) fees: $8.10 million versus the three-analyst average estimate of $8.25 million.
- Credit card, debit card and ATM card income: $8.67 million versus the three-analyst average estimate of $8.68 million.
View all Key Company Metrics for Prosperity Bancshares here>>>Shares of Prosperity Bancshares have returned -5.1% over the past month versus the Zacks S&P 500 composite's +2.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
Get the latest research report on PB - FREE