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

Prosperity Bancshares, Inc. (NYSE:PB) announced a quarterly dividend on Wednesday, April 22nd. Investors of record on Monday, June 15th will be given a dividend of 0.60 per share by the bank on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, June 15th.

Prosperity Bancshares has increased its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 27 years. Prosperity Bancshares has a payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Prosperity Bancshares to earn $7.25 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 33.1%.

Prosperity Bancshares Stock Performance

NYSE PB opened at $69.78 on Thursday. Prosperity Bancshares has a one year low of $61.06 and a one year high of $77.20. The stock has a 50-day moving average of $68.62 and a 200 day moving average of $68.88. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.11 and a beta of 0.66.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, January 28th. The bank reported $1.46 EPS for the quarter, topping the consensus estimate of $1.45 by $0.01. Prosperity Bancshares had a return on equity of 7.11% and a net margin of 31.22%.The company had revenue of $317.73 million during the quarter, compared to the consensus estimate of $319.30 million. During the same period last year, the company earned $1.37 EPS. Prosperity Bancshares’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities analysts predict that Prosperity Bancshares will post 6.19 earnings per share for the current fiscal year.

About Prosperity Bancshares

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.