Prosperity Bancshares (NYSE:PB – Get Free Report) issued its quarterly earnings results on Wednesday. The bank reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03, Briefing.com reports. Prosperity Bancshares had a return on equity of 6.62% and a net margin of 26.24%. The business had revenue of $420.78 million for the quarter, compared to analyst estimates of $274.88 million. During the same period last year, the company posted $1.37 earnings per share.
Prosperity Bancshares Stock Down 2.6 %
Prosperity Bancshares stock traded down $1.71 during midday trading on Thursday, reaching $63.37. The stock had a trading volume of 389,648 shares, compared to its average volume of 562,438. Prosperity Bancshares has a 12 month low of $49.60 and a 12 month high of $68.88. The firm has a market capitalization of $5.93 billion, a PE ratio of 14.11, a P/E/G ratio of 1.26 and a beta of 0.93. The firm’s 50-day moving average price is $62.58 and its 200 day moving average price is $61.62.
Prosperity Bancshares Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Friday, June 14th. Prosperity Bancshares’s dividend payout ratio is 49.45%.
Wall Street Analyst Weigh In
Read Our Latest Stock Analysis on PB
Prosperity Bancshares Company Profile
Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides financial products and services to businesses and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts, as well as and certificates of deposit. The company also offers 1-4 family residential mortgage, commercial real estate and multifamily residential, commercial and industrial, agricultural, and non-real estate agricultural loans, as well as construction, land development, and other land loans; consumer loans, including automobile, recreational vehicle, boat, home improvement, personal, and deposit account collateralized loans; term loans and lines of credit; and consumer durables and home equity loans, as well as loans for working capital, business expansion, and purchase of equipment and machinery.
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