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Prosperity Bancshares (PB) Reports Q1 Earnings: What Key Metrics Have to Say
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For the quarter ended March 2024, Prosperity Bancshares (PB - Free Report) reported revenue of $277.11 million, down 1.6% over the same period last year. EPS came in at $1.18, compared to $1.37 in the year-ago quarter.
The reported revenue represents a surprise of +0.81% over the Zacks Consensus Estimate of $274.88 million. With the consensus EPS estimate being $1.15, the EPS surprise was +2.61%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
Net Interest Margin (Tax Equivalent Basis): 2.8% versus the seven-analyst average estimate of 2.8%.
Efficiency Ratio: 49.1% versus the seven-analyst average estimate of 49.2%.
Net charge-offs to average loans: 0% compared to the 0.1% average estimate based on six analysts.
Average balance - Total interest-earning assets: $34.51 billion versus the six-analyst average estimate of $34.55 billion.
Total nonperforming assets: $83.81 million compared to the $69.54 million average estimate based on three analysts.
Total nonperforming loans: $81.51 million versus $66.45 million estimated by three analysts on average.
Tier 1 Risk-based Capital Ratio: 15.8% versus the three-analyst average estimate of 15.4%.
Total Risk-based Capital Ratio: 17.1% versus the three-analyst average estimate of 16.6%.
Tier 1 Leverage Capital Ratio: 10.4% versus the two-analyst average estimate of 10.7%.
Total Noninterest Income: $38.87 million versus the seven-analyst average estimate of $36.98 million.
Net Interest Income: $238.24 million versus $238.06 million estimated by six analysts on average.
Net Interest Income (Tax Equivalent Basis): $239.05 million versus $237.49 million estimated by five analysts on average.
Shares of Prosperity Bancshares have returned -0.1% over the past month versus the Zacks S&P 500 composite's -3% 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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Prosperity Bancshares (PB) Reports Q1 Earnings: What Key Metrics Have to Say
For the quarter ended March 2024, Prosperity Bancshares (PB - Free Report) reported revenue of $277.11 million, down 1.6% over the same period last year. EPS came in at $1.18, compared to $1.37 in the year-ago quarter.
The reported revenue represents a surprise of +0.81% over the Zacks Consensus Estimate of $274.88 million. With the consensus EPS estimate being $1.15, the EPS surprise was +2.61%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
- Net Interest Margin (Tax Equivalent Basis): 2.8% versus the seven-analyst average estimate of 2.8%.
- Efficiency Ratio: 49.1% versus the seven-analyst average estimate of 49.2%.
- Net charge-offs to average loans: 0% compared to the 0.1% average estimate based on six analysts.
- Average balance - Total interest-earning assets: $34.51 billion versus the six-analyst average estimate of $34.55 billion.
- Total nonperforming assets: $83.81 million compared to the $69.54 million average estimate based on three analysts.
- Total nonperforming loans: $81.51 million versus $66.45 million estimated by three analysts on average.
- Tier 1 Risk-based Capital Ratio: 15.8% versus the three-analyst average estimate of 15.4%.
- Total Risk-based Capital Ratio: 17.1% versus the three-analyst average estimate of 16.6%.
- Tier 1 Leverage Capital Ratio: 10.4% versus the two-analyst average estimate of 10.7%.
- Total Noninterest Income: $38.87 million versus the seven-analyst average estimate of $36.98 million.
- Net Interest Income: $238.24 million versus $238.06 million estimated by six analysts on average.
- Net Interest Income (Tax Equivalent Basis): $239.05 million versus $237.49 million estimated by five analysts on average.
View all Key Company Metrics for Prosperity Bancshares here>>>Shares of Prosperity Bancshares have returned -0.1% over the past month versus the Zacks S&P 500 composite's -3% 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.