Prosperity Bancshares (NYSE:PB – Get Free Report) announced its quarterly earnings results on Wednesday. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate 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%. The company had revenue of $459.00 million during the quarter, compared to analysts’ expectations of $299.83 million. During the same period last year, the business earned $1.20 earnings per share.
Prosperity Bancshares Trading Down 1.7 %
PB stock traded down $1.27 during midday trading on Friday, reaching $72.26. The stock had a trading volume of 516,557 shares, compared to its average volume of 572,250. Prosperity Bancshares has a 52-week low of $52.49 and a 52-week high of $75.28. The company has a market cap of $6.93 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89. The company’s fifty day simple moving average is $72.19 and its 200 day simple moving average is $66.58.
Prosperity Bancshares Increases Dividend
The company also recently disclosed 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 is an increase from Prosperity Bancshares’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, December 13th. Prosperity Bancshares’s dividend payout ratio is currently 53.46%.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on PB
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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