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Prosperity Bancshares (PB) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2024, Prosperity Bancshares (PB - Free Report) reported revenue of $304.79 million, up 10.4% over the same period last year. EPS came in at $1.22, compared to $1.21 in the year-ago quarter.
The reported revenue represents a surprise of +5.08% over the Zacks Consensus Estimate of $290.06 million. With the consensus EPS estimate being $1.20, the EPS surprise was +1.67%.
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): 2.9% versus the seven-analyst average estimate of 2.8%.
Efficiency Ratio: 51.8% versus the seven-analyst average estimate of 49.8%.
Net charge-offs to average loans: 0.1% versus 0.1% estimated by six analysts on average.
Average balance - Total interest-earning assets: $35.46 billion versus $35.46 billion estimated by six analysts on average.
Total nonperforming loans: $84.50 million versus the three-analyst average estimate of $79.30 million.
Total nonperforming assets: $89.57 million versus the three-analyst average estimate of $83.18 million.
Total Risk-based Capital Ratio: 16.7% versus 17% estimated by three analysts on average.
Tier 1 Leverage Capital Ratio: 10.3% compared to the 10.5% average estimate based on two analysts.
Total Noninterest Income: $46 million versus the seven-analyst average estimate of $39.91 million.
Net Interest Income: $258.79 million versus $250.85 million estimated by six analysts on average.
Net Interest Income (Tax Equivalent Basis): $259.59 million versus the five-analyst average estimate of $252.46 million.
Mortgage income: $0.75 million versus $0.80 million estimated by three analysts on average.
Shares of Prosperity Bancshares have returned +17.9% over the past month versus the Zacks S&P 500 composite's +1.8% 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 Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2024, Prosperity Bancshares (PB - Free Report) reported revenue of $304.79 million, up 10.4% over the same period last year. EPS came in at $1.22, compared to $1.21 in the year-ago quarter.
The reported revenue represents a surprise of +5.08% over the Zacks Consensus Estimate of $290.06 million. With the consensus EPS estimate being $1.20, the EPS surprise was +1.67%.
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): 2.9% versus the seven-analyst average estimate of 2.8%.
- Efficiency Ratio: 51.8% versus the seven-analyst average estimate of 49.8%.
- Net charge-offs to average loans: 0.1% versus 0.1% estimated by six analysts on average.
- Average balance - Total interest-earning assets: $35.46 billion versus $35.46 billion estimated by six analysts on average.
- Total nonperforming loans: $84.50 million versus the three-analyst average estimate of $79.30 million.
- Total nonperforming assets: $89.57 million versus the three-analyst average estimate of $83.18 million.
- Total Risk-based Capital Ratio: 16.7% versus 17% estimated by three analysts on average.
- Tier 1 Leverage Capital Ratio: 10.3% compared to the 10.5% average estimate based on two analysts.
- Total Noninterest Income: $46 million versus the seven-analyst average estimate of $39.91 million.
- Net Interest Income: $258.79 million versus $250.85 million estimated by six analysts on average.
- Net Interest Income (Tax Equivalent Basis): $259.59 million versus the five-analyst average estimate of $252.46 million.
- Mortgage income: $0.75 million versus $0.80 million estimated by three analysts on average.
View all Key Company Metrics for Prosperity Bancshares here>>>Shares of Prosperity Bancshares have returned +17.9% over the past month versus the Zacks S&P 500 composite's +1.8% 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.