Prosperity Bancshares (NYSE:PB – Get Free Report) issued its quarterly earnings data on Wednesday. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.03, Briefing.com reports. Prosperity Bancshares had a net margin of 25.10% and a return on equity of 6.32%. During the same quarter in the prior year, the firm earned $1.20 earnings per share.
Prosperity Bancshares Price Performance
NYSE PB traded down $0.02 during mid-day trading on Thursday, reaching $73.30. 147,341 shares of the stock were exchanged, compared to its average volume of 569,265. The stock has a market cap of $6.98 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.53 and a beta of 0.89. Prosperity Bancshares has a one year low of $49.82 and a one year high of $75.28. The stock has a 50 day simple moving average of $72.13 and a 200-day simple moving average of $66.54.
Prosperity Bancshares Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be paid a $0.58 dividend. This is a positive change from Prosperity Bancshares’s previous quarterly dividend of $0.56. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date of this dividend is Friday, December 13th. Prosperity Bancshares’s dividend payout ratio is currently 49.02%.
Analyst Upgrades and Downgrades
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About Prosperity Bancshares
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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