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

Prosperity Bancshares, Inc. (NYSE:PB) declared a quarterly dividend on Wednesday, January 21st. Stockholders of record on Friday, March 13th will be paid 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 3.6%. The ex-dividend date is Friday, March 13th.

Prosperity Bancshares has increased 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 dividend payout ratio of 37.3% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

NYSE PB opened at $66.86 on Wednesday. Prosperity Bancshares has a 12 month low of $61.06 and a 12 month high of $77.20. The company has a market capitalization of $6.79 billion, a P/E ratio of 11.67, a PEG ratio of 0.95 and a beta of 0.66. The company’s 50 day simple moving average is $71.58 and its 200 day simple moving average is $68.92.

Prosperity Bancshares (NYSE:PB) last issued its earnings results on Wednesday, January 28th. The bank reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. The firm had revenue of $317.73 million during the quarter, compared to analysts’ expectations of $319.30 million. Prosperity Bancshares had a net margin of 31.22% and a return on equity of 7.11%. The firm’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period last year, the firm posted $1.37 earnings per share. On average, analysts anticipate that Prosperity Bancshares will post 5.83 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.