Prosperity Bancshares, Inc. Plans Quarterly Dividend of $0.60 (NYSE:PB)

Prosperity Bancshares, Inc. (NYSE:PB) announced a quarterly dividend on Tuesday, July 21st. Shareholders of record on Tuesday, September 15th will be paid a dividend of 0.60 per share by the bank on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, September 15th.

Prosperity Bancshares has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 27 consecutive years. Prosperity Bancshares has a dividend payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Prosperity Bancshares to earn $7.13 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 33.7%.

Prosperity Bancshares Price Performance

Shares of Prosperity Bancshares stock opened at $73.07 on Thursday. The firm has a market cap of $7.37 billion, a PE ratio of 13.24, a PEG ratio of 1.17 and a beta of 0.63. Prosperity Bancshares has a 12 month low of $61.06 and a 12 month high of $77.20. The stock has a 50 day moving average of $70.87 and a 200 day moving average of $70.14. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.01.

Prosperity Bancshares (NYSE:PB) last announced its earnings results on Wednesday, April 29th. The bank reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.09. Prosperity Bancshares had a net margin of 29.50% and a return on equity of 7.20%. The firm had revenue of $367.62 million for the quarter, compared to analysts’ expectations of $358.60 million. During the same period in the prior year, the company earned $1.37 EPS. The business’s revenue was up 19.9% compared to the same quarter last year. On average, research analysts expect that Prosperity Bancshares will post 6.25 EPS for the current fiscal year.

Prosperity Bancshares Company Profile

Prosperity Bancshares, Inc is a holding company for Prosperity Bank, offering a broad range of commercial and consumer banking services across Texas, Oklahoma, Arkansas and Louisiana. Through its network of branches and digital platforms, the company provides deposit products, business and real estate lending, treasury management, mortgage origination and servicing, as well as wealth management and trust services.

Originally chartered in 1911 as First National Bank in McKinney, Texas, the organization rebranded to Prosperity Bank in 2009 following a series of strategic acquisitions aimed at deepening its regional presence.