Prosperity Bancshares (NYSE:PB – Get Free Report) announced its quarterly earnings results on Wednesday. The bank reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03, Briefing.com reports. The company had revenue of $420.78 million during the quarter, compared to the consensus estimate of $274.88 million. Prosperity Bancshares had a return on equity of 6.62% and a net margin of 26.24%. During the same period in the previous year, the business earned $1.37 EPS.
Prosperity Bancshares Price Performance
NYSE PB traded down $1.48 on Thursday, hitting $63.60. 247,997 shares of the company’s stock were exchanged, compared to its average volume of 560,920. The firm’s 50-day moving average price is $62.58 and its two-hundred day moving average price is $61.62. Prosperity Bancshares has a fifty-two week low of $49.60 and a fifty-two week high of $68.88. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 1.26 and a beta of 0.93.
Prosperity Bancshares Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, June 14th. Prosperity Bancshares’s payout ratio is 49.45%.
Wall Street Analysts Forecast Growth
Check Out Our Latest Report on Prosperity Bancshares
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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