Prosperity Bancshares, Inc. (PB) To Go Ex-Dividend on June 15th

Prosperity Bancshares, Inc. (NYSE:PB) announced a quarterly dividend on Tuesday, April 21st. Shareholders of record on Monday, June 15th will be given a dividend of 0.60 per share by the bank on Wednesday, July 1st. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 15th.

Prosperity Bancshares has raised its dividend by an average of 0.0%annually 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. 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 Stock Performance

PB traded down $0.73 during trading on Thursday, hitting $69.06. 297,931 shares of the stock were exchanged, compared to its average volume of 1,197,659. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 12.05, a P/E/G 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 firm has a 50 day simple moving average of $68.62 and a 200 day simple moving average of $68.88.

Prosperity Bancshares (NYSE:PB) last posted its earnings results on Wednesday, January 28th. The bank reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.01. Prosperity Bancshares had a return on equity of 7.11% and a net margin of 31.22%.The company had revenue of $317.73 million during the quarter, compared to analyst estimates of $319.30 million. During the same quarter in the prior year, the business earned $1.37 earnings per share. Prosperity Bancshares’s revenue was down 5.9% on a year-over-year basis. As a group, equities analysts anticipate that Prosperity Bancshares will post 6.19 earnings per share for the current fiscal 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.