Recap: Prosperity Bancshares Q1 Earnings

Shares of Prosperity Bancshares PB remained unaffected after the company reported Q1 results.

Quarterly Results

Earnings per share rose 3.60% year over year to $1.44, which beat the estimate of $1.38.

Revenue of $288,590,000 decreased by 0.63% from the same period last year, which beat the estimate of $283,660,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: Apr 28, 2021

Time: 11:30 AM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/1071/40574

Technicals

Company's 52-week high was at $83.02

Company's 52-week low was at $48.80

Price action over last quarter: Up 13.43%

Company Description

Prosperity Bancshares Inc follows a community bank model and provides multiple services to individuals and small to midsize businesses. It operates more than 200 branches in Texas, most of them around the Houston, Dallas-Fort Worth, Corpus Christi, and Austin metropolitan areas. Its $5 billion loans are heavily weighted toward real estate, with commercial mortgages, consumer mortgages, and construction loans constituting roughly 40%, 25%, and 10% of its portfolio, respectively.