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Texas

Prosperity Bancshares: Fourth Quarter Earnings Report

HOUSTON (AP) _ Prosperity Bancshares Inc. (PB) on Wednesday reported fourth-quarter earnings of $137.9 million.

The Houston bank said it posted earnings of $1.51 per share.

The results beat Wall Street’s expectations. Eight analysts surveyed by Zacks Investment Research averaged earnings of $1.50 per share.

The income of the financial holding for this period amounted to 346.3 million dollars. Its revenue, excluding interest expense, was $293.9 million, falling short of Street’s projections. Six analysts polled by Zacks expected $296.5 million.

For the year, the company reported earnings of $524.5 million, or $5.73 per share. Revenue was $1.15 billion.

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This story was created by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access the Zacks PB Stock Report at https://www.zacks.com/ap/PB.

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