Prosperity Bancshares: 4Q Earnings Snapshot
HOUSTON (AP) _ Prosperity Bancshares Inc. (PB) on Wednesday reported fourth-quarter net income of $83.3 million.
The bank, based in Houston, said it had earnings of $1.19 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share.
The financial holding company posted revenue of $216.3 million in the period. Its revenue net of interest expense was $186.3 million, missing Street forecasts. Seven analysts surveyed by Zacks expected $188.3 million.
For the year, the company reported profit of $321.8 million, or $4.61 per share. Revenue was reported as $745.6 million.
Prosperity Bancshares shares have risen 14 percent since the beginning of the year. The stock has fallen 7 percent in the last 12 months.