Prosperity Bancshares, Inc. (NYSE:PB) Declares $0.60 Quarterly Dividend

Prosperity Bancshares, Inc. (NYSE:PB) declared a quarterly dividend on Wednesday, January 21st. Shareholders 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 yield of 3.2%. The ex-dividend date is Friday, March 13th.

Prosperity Bancshares has increased its dividend by an average of 0.1%per year over the last three years and has raised 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. 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 Price Performance

NYSE:PB opened at $74.69 on Thursday. The company has a market capitalization of $7.09 billion, a P/E ratio of 13.31, a P/E/G ratio of 0.94 and a beta of 0.68. The business has a fifty day simple moving average of $70.30 and a two-hundred day simple moving average of $68.39. Prosperity Bancshares has a 1 year low of $61.06 and a 1 year high of $82.75.

Prosperity Bancshares (NYSE:PB) last posted its quarterly earnings results on Wednesday, October 29th. The bank reported $1.45 earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $317.94 million. During the same quarter in the prior year, the company earned $1.34 EPS. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, 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.