Prosperity Bancshares (NYSE:PB – Get Free Report) posted its quarterly earnings results on Wednesday. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03, Briefing.com reports. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. During the same quarter in the previous year, the business posted $1.20 EPS.
Prosperity Bancshares Price Performance
PB traded up $0.29 during trading on Thursday, hitting $73.61. 120,437 shares of the stock traded hands, compared to its average volume of 569,134. The firm has a market capitalization of $7.01 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.53 and a beta of 0.89. Prosperity Bancshares has a 12-month low of $49.82 and a 12-month high of $75.28. The firm has a 50-day moving average of $72.13 and a 200 day moving average of $66.54.
Prosperity Bancshares Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 3.15%. This is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Friday, December 13th. Prosperity Bancshares’s payout ratio is presently 49.02%.
Analysts Set New Price Targets
Check Out Our Latest Analysis 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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