Prosperity Bancshares (NYSE:PB – Get Free Report) issued its quarterly earnings data on Wednesday. The bank reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.03, Briefing.com reports. The business had revenue of $420.78 million during the quarter, compared to analyst estimates of $274.88 million. Prosperity Bancshares had a net margin of 26.24% and a return on equity of 6.62%. During the same quarter last year, the business earned $1.37 EPS.
Prosperity Bancshares Trading Down 2.6 %
Shares of NYSE:PB traded down $1.71 on Thursday, reaching $63.37. 389,648 shares of the company were exchanged, compared to its average volume of 562,438. Prosperity Bancshares has a 1-year low of $49.60 and a 1-year high of $68.88. The company has a 50-day moving average of $62.58 and a 200-day moving average of $61.62. The firm has a market cap of $5.93 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 1.26 and a beta of 0.93.
Prosperity Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.24 annualized dividend and a yield of 3.53%. Prosperity Bancshares’s dividend payout ratio is currently 49.45%.
Analysts Set New Price Targets
Read Our Latest Report on Prosperity Bancshares
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.
Recommended Stories
- Five stocks we like better than Prosperity Bancshares
- Market Cap Calculator: How to Calculate Market Cap
- Hasbro’s Management Made All the Right Calls This Quarter
- Why Invest in High-Yield Dividend Stocks?
- Caterpillar’s Market Reset Isn’t Over: Get Ready for Lower Prices
- The Role Economic Reports Play in a Successful Investment Strategy
- Power Surge: Utilities Sector’s Resilience Shines
Receive News & Ratings for Prosperity Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prosperity Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.