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

Prosperity Bancshares, Inc. (NYSE:PB) declared 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) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Monday, June 15th.

Prosperity Bancshares has raised its dividend payment by an average of 0.0%per year over the last three years and has increased 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. Equities 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 Trading Up 0.3%

NYSE PB opened at $69.78 on Thursday. The stock’s 50 day moving average is $68.62 and its 200 day moving average is $68.88. Prosperity Bancshares has a 12 month low of $61.06 and a 12 month high of $77.20. The stock has a market cap of $7.08 billion, a PE ratio of 12.18, a P/E/G ratio of 1.11 and a beta of 0.66.

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