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Compared to Estimates, Prosperity Bancshares (PB) Q1 Earnings: A Look at Key Metrics
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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.
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.
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Compared to Estimates, Prosperity Bancshares (PB) Q1 Earnings: A Look at Key Metrics
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.