Prosperity Bancshares Announces Quarterly Dividend of $0.22 (PB)

Prosperity Bancshares (NYSE:PB) announced a quarterly dividend on Thursday, June 6th, Analyst Ratings Network reports. Investors of record on Monday, June 17th will be paid a dividend of $0.215 per share on Monday, July 1st. This represents a $0.86 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Thursday, June 13th.

A number of analysts have recently weighed in on PB shares. Analysts at BMO Capital Markets downgraded shares of Prosperity Bancshares from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday, May 23rd. On the ratings front, analysts at Ativo Research downgraded shares of Prosperity Bancshares from a “neutral” rating to an “unfavorable” rating in a research note to investors on Saturday, May 4th. Finally, analysts at RBC Capital raised their price target on shares of Prosperity Bancshares from $45.00 to $47.00 in a research note to investors on Thursday, April 25th. They now have a “sector perform” rating on the stock.

Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $47.70.

Prosperity Bancshares (NYSE: PB) opened at 49.39 on Friday. Prosperity Bancshares has a 52-week low of $38.56 and a 52-week high of $50.82. The stock’s 50-day moving average is currently $47.75. The company has a market cap of $2.977 billion and a price-to-earnings ratio of 14.89.

Prosperity Bancshares (NYSE: PB) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $0.86 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.84 by $0.02. During the same quarter last year, the company posted $0.77 earnings per share. Analysts expect that Prosperity Bancshares will post $3.49 EPS for the current fiscal year.

Prosperity Bancshares, Inc. is a financial holding company. The Company operates through its bank subsidiary, Prosperity Bank (NYSE: PB).

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