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Prosperity Bancshares (PB) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended September 2024, Prosperity Bancshares (PB - Free Report) reported revenue of $302.79 million, up 8.8% over the same period last year. EPS came in at $1.34, compared to $1.20 in the year-ago quarter.
The reported revenue represents a surprise of +0.99% over the Zacks Consensus Estimate of $299.83 million. With the consensus EPS estimate being $1.30, the EPS surprise was +3.08%.
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): 3% versus the seven-analyst average estimate of 3%.
Efficiency Ratio: 46.9% versus the seven-analyst average estimate of 47.3%.
Net charge-offs to average loans: 0.1% versus 0.1% estimated by six analysts on average.
Average balance - Total interest-earning assets: $35.37 billion compared to the $35.34 billion average estimate based on six analysts.
Total nonperforming loans: $83.99 million versus the three-analyst average estimate of $85.77 million.
Total nonperforming assets: $89.92 million versus $90.70 million estimated by three analysts on average.
Tier 1 Leverage Capital Ratio: 10.5% versus 10.6% estimated by two analysts on average.
Total Risk-based Capital Ratio: 17.1% versus the two-analyst average estimate of 16.9%.
Total Noninterest Income: $41.10 million compared to the $37.81 million average estimate based on seven analysts.
Net Interest Income: $261.69 million versus $261.92 million estimated by six analysts on average.
Net Interest Income (Tax Equivalent Basis): $262.50 million compared to the $263.51 million average estimate based on five analysts.
Mortgage income: $0.96 million versus $0.88 million estimated by three analysts on average.
Shares of Prosperity Bancshares have returned +1.7% over the past month versus the Zacks S&P 500 composite's +2.7% 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) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended September 2024, Prosperity Bancshares (PB - Free Report) reported revenue of $302.79 million, up 8.8% over the same period last year. EPS came in at $1.34, compared to $1.20 in the year-ago quarter.
The reported revenue represents a surprise of +0.99% over the Zacks Consensus Estimate of $299.83 million. With the consensus EPS estimate being $1.30, the EPS surprise was +3.08%.
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): 3% versus the seven-analyst average estimate of 3%.
- Efficiency Ratio: 46.9% versus the seven-analyst average estimate of 47.3%.
- Net charge-offs to average loans: 0.1% versus 0.1% estimated by six analysts on average.
- Average balance - Total interest-earning assets: $35.37 billion compared to the $35.34 billion average estimate based on six analysts.
- Total nonperforming loans: $83.99 million versus the three-analyst average estimate of $85.77 million.
- Total nonperforming assets: $89.92 million versus $90.70 million estimated by three analysts on average.
- Tier 1 Leverage Capital Ratio: 10.5% versus 10.6% estimated by two analysts on average.
- Total Risk-based Capital Ratio: 17.1% versus the two-analyst average estimate of 16.9%.
- Total Noninterest Income: $41.10 million compared to the $37.81 million average estimate based on seven analysts.
- Net Interest Income: $261.69 million versus $261.92 million estimated by six analysts on average.
- Net Interest Income (Tax Equivalent Basis): $262.50 million compared to the $263.51 million average estimate based on five analysts.
- Mortgage income: $0.96 million versus $0.88 million estimated by three analysts on average.
View all Key Company Metrics for Prosperity Bancshares here>>>Shares of Prosperity Bancshares have returned +1.7% over the past month versus the Zacks S&P 500 composite's +2.7% 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.