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

Prosperity Bancshares, Inc. (NYSE:PB) declared a quarterly dividend on Tuesday, July 21st. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.60 per share by the bank on Thursday, October 1st. This represents a c) annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, September 15th.

Prosperity Bancshares has raised its dividend payment by an average of 0.0%per year 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% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Prosperity Bancshares to earn $7.13 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 33.7%.

Prosperity Bancshares Price Performance

Shares of Prosperity Bancshares stock opened at $73.07 on Thursday. Prosperity Bancshares has a 52-week low of $61.06 and a 52-week high of $77.20. The stock has a market capitalization of $7.37 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 1.17 and a beta of 0.63. The company has a fifty day moving average of $70.87 and a 200-day moving average of $70.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.76 and a current ratio of 0.76.

Prosperity Bancshares (NYSE:PB) last released its quarterly earnings data on Wednesday, April 29th. The bank reported $1.50 EPS for the quarter, topping the consensus estimate of $1.41 by $0.09. The firm had revenue of $367.62 million for the quarter, compared to the consensus estimate of $358.60 million. Prosperity Bancshares had a return on equity of 7.20% and a net margin of 29.50%.The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 earnings per share. Equities research analysts expect that Prosperity Bancshares will post 6.25 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.