Benzinga | Oct 28, 2020 08:42AM EDT

Prosperity Bancshares: Q3 Earnings Insights

Shares of Prosperity Bancshares (NYSE:PB) rose 0.9% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share rose 17.65% year over year to $1.40, which beat the estimate of $1.29.

Revenue of $293,037,000 higher by 58.69% year over year, which beat the estimate of $279,870,000.

Guidance

Prosperity Bancshares hasn't issued any earnings guidance for the time being.

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

How To Listen To The Conference Call

Date: Oct 28, 2020

Time: 11:30 AM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/1071/37519

Technicals

52-week high: $75.22

Company's 52-week low was at $42.02

Price action over last quarter: down 1.31%

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.