Keefe, Bruyette & Woods Upgrades Prosperity Bancshares (PB) to Outperform
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Prosperity Bancshares, Inc.® Announces Stock Repurchase Program
January 27, 2016 6:10 AM ESTHOUSTON, Jan. 27, 2016 /PRNewswire/ -- Prosperity Bancshares, Inc.® ("Prosperity") (NYSE: PB), the parent company of Prosperity Bank®, today announced that its Board of Directors authorized a stock repurchase program under which up to 5% or approximately 3.54 million shares of its outstanding common stock may be acquired over the next twelve months at the discretion of management.
The shares will be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending upon market conditions. There is no guarantee as to the exact number of shares that will be... More
Prosperity Bancshares, Inc.® Reports Fourth Quarter 2015 Earnings
January 27, 2016 6:06 AM ESTHOUSTON, Jan. 27, 2016 /PRNewswire/ -- Prosperity Bancshares, Inc.® (NYSE: PB), the parent company of Prosperity Bank® (collectively, "Prosperity"), reported net income for the quarter ended December 31, 2015 of $70.475 million or $1.01 per diluted common share. Additionally, nonperforming assets remain low at 0.23% of fourth quarter average earning assets with an annualized return on fourth quarter average assets of 1.30%.
"We were very pleased with our fourth quarter 2015 results and trends," said David Zalman, Prosperity's Chairman and Chief Executive Officer.
"Net income (excluding purchase accounting adjustments) was $66.147 million for the quarter ended December 31, 2015 compared with $58.499 million... More
