Prosperity Bancshares, Inc. (PB) to Issue Quarterly Dividend of $0.60 on July 1st

Prosperity Bancshares, Inc. (NYSE:PB) announced a quarterly dividend on Tuesday, April 21st. Shareholders 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 3.3%. The ex-dividend date is Monday, June 15th.

Prosperity Bancshares has raised its dividend by an average of 0.0%annually 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 analysts expect Prosperity Bancshares to earn $7.16 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 33.5%.

Prosperity Bancshares Price Performance

Shares of Prosperity Bancshares stock opened at $72.64 on Friday. The firm has a fifty day simple moving average of $68.95 and a 200-day simple moving average of $69.80. 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 has a 1-year low of $61.06 and a 1-year high of $77.20. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.10 and a beta of 0.64.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings data on Wednesday, April 29th. The bank reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. Prosperity Bancshares had a net margin of 29.50% and a return on equity of 7.20%. The business had revenue of $367.62 million during the quarter, compared to analysts’ expectations of $358.60 million. During the same period in the previous year, the company earned $1.37 earnings per share. Prosperity Bancshares’s revenue for the quarter was up 19.9% on a year-over-year basis. On average, sell-side analysts expect that Prosperity Bancshares will post 6.27 earnings per share for the current 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.