HOUSTON (AP) — HOUSTON (AP) — Prosperity Bancshares Inc. (PB) on Wednesday reported fourth-quarter profit of $139.9 million.
The Houston-based bank said it had earnings of $1.49 per share. Earnings, adjusted for non-recurring gains, were $1.46 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.45 per share.
The financial holding company posted revenue of $429.4 million in the period. Its revenue net of interest expense was $317.7 million, which also topped Street forecasts. Four analysts surveyed by Zacks expected $317.3 million.
For the year, the company reported profit of $542.8 million, or $5.72 per share. Revenue was reported as $1.25 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PB at https://www.zacks.com/ap/PB
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