Prosperity Bancshares, Inc. (PB) To Go Ex-Dividend on March 13th

Prosperity Bancshares, Inc. (NYSE:PB) declared a quarterly dividend on Wednesday, January 21st. Investors of record on Friday, March 13th will be given a dividend of 0.60 per share by the bank on Wednesday, April 1st. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, March 13th.

Prosperity Bancshares has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 27 consecutive years. Prosperity Bancshares has a dividend payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Prosperity Bancshares to earn $6.44 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 37.3%.

Prosperity Bancshares Stock Performance

Shares of NYSE PB opened at $74.41 on Friday. The company has a market cap of $7.07 billion, a PE ratio of 13.26, a P/E/G ratio of 0.98 and a beta of 0.68. Prosperity Bancshares has a fifty-two week low of $61.06 and a fifty-two week high of $82.75. The business has a 50-day simple moving average of $70.45 and a two-hundred day simple moving average of $68.43.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, October 29th. The bank reported $1.45 EPS for the quarter, hitting analysts’ consensus estimates of $1.45. Prosperity Bancshares had a return on equity of 7.06% and a net margin of 30.28%.The company had revenue of $314.67 million during the quarter, compared to analysts’ expectations of $317.94 million. During the same quarter in the previous year, the firm posted $1.34 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, sell-side analysts predict that Prosperity Bancshares will post 5.83 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Prosperity Bancshares news, Director Ned S. Holmes sold 500 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $74.29, for a total transaction of $37,145.00. Following the completion of the transaction, the director directly owned 83,915 shares of the company’s stock, valued at approximately $6,234,045.35. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 16,150 shares of company stock worth $1,127,735 over the last quarter. 4.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Ritholtz Wealth Management bought a new stake in shares of Prosperity Bancshares in the 4th quarter worth approximately $287,000. Jackson Thornton Wealth Management LLC purchased a new position in Prosperity Bancshares during the 4th quarter valued at about $304,000. Savvy Advisors Inc. increased its stake in Prosperity Bancshares by 1.2% in the 4th quarter. Savvy Advisors Inc. now owns 68,705 shares of the bank’s stock valued at $4,748,000 after buying an additional 806 shares during the period. Perigon Wealth Management LLC acquired a new stake in Prosperity Bancshares during the fourth quarter valued at $234,000. Finally, FNY Investment Advisers LLC grew its stake in shares of Prosperity Bancshares by 800.0% in the 4th quarter. FNY Investment Advisers LLC now owns 2,700 shares of the bank’s stock valued at $186,000 after buying an additional 2,400 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

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.