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

Prosperity Bancshares, Inc. (NYSE:PB) announced a quarterly dividend on Wednesday, April 22nd. Shareholders of record on Monday, June 15th will be paid a dividend of 0.60 per share by the bank on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, June 15th.

Prosperity Bancshares has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 27 consecutive years. Prosperity Bancshares has a payout ratio of 37.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Prosperity Bancshares to earn $7.25 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 33.1%.

Prosperity Bancshares Trading Up 0.3%

Prosperity Bancshares stock opened at $69.78 on Thursday. The company has a market cap of $7.08 billion, a PE ratio of 12.18, a PEG ratio of 1.11 and a beta of 0.66. Prosperity Bancshares has a 1 year low of $61.06 and a 1 year high of $77.20. The company’s 50-day moving average is $68.62 and its two-hundred day moving average is $68.88.

Prosperity Bancshares (NYSE:PB) last issued its quarterly earnings results on Wednesday, January 28th. The bank reported $1.46 EPS for the quarter, topping the consensus estimate of $1.45 by $0.01. Prosperity Bancshares had a net margin of 31.22% and a return on equity of 7.11%. The company had revenue of $317.73 million during the quarter, compared to analysts’ expectations of $319.30 million. During the same quarter in the previous year, the company earned $1.37 EPS. Prosperity Bancshares’s revenue was down 5.9% on a year-over-year basis. Research analysts forecast that Prosperity Bancshares will post 6.19 EPS 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.