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Last $51.99 USD
Change Today +0.57 / 1.11%
Volume 229.5K
PB On Other Exchanges
Symbol
Exchange
New York
Frankfurt
As of 2:37 PM 04/28/15 All times are local (Market data is delayed by at least 15 minutes).

prosperity bancshares inc (PB) Snapshot

Open
$51.62
Previous Close
$51.42
Day High
$52.18
Day Low
$51.38
52 Week High
07/1/14 - $63.73
52 Week Low
01/30/15 - $45.01
Market Cap
3.6B
Average Volume 10 Days
386.4K
EPS TTM
$4.34
Shares Outstanding
70.0M
EX-Date
06/11/15
P/E TM
12.0x
Dividend
$1.09
Dividend Yield
1.97%
Current Stock Chart for PROSPERITY BANCSHARES INC (PB)

prosperity bancshares inc (PB) Related Businessweek News

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prosperity bancshares inc (PB) Details

Prosperity Bancshares, Inc. operates as bank holding company for the Prosperity Bank that provides a range of financial products and services to small and medium-sized businesses, and consumers. The company offers various deposit products, including demand, savings, money market, and time accounts. It also provides one to four family residential mortgage loans, commercial mortgage and multifamily residential loans, construction and land development loans, commercial and industrial loans, agricultural real estate loans, and non-real estate agricultural loans, as well as consumer loans, such as automobile, recreational vehicle, boat, home improvement, personal, deposit account collateralized, and consumer durables loans, as well as home equity loans. In addition, the company offers debit and credit cards, Internet banking and other cash management services, mobile banking, trust and wealth management, retail brokerage services, mortgage banking services, and automated telephone banking services. As of March 5, 2015, it operated 244 full service banking locations, including 61 in the Houston area, including The Woodlands; 30 in the South Texas area consisting of Corpus Christi and Victoria; 36 in the Dallas/Fort Worth area; 22 in the East Texas area; 30 in the Central Texas area comprising Austin and San Antonio; 34 in the West Texas area, including Lubbock, Midland-Odessa, and Abilene; 16 in the Bryan/College Station area; 6 in the Central Oklahoma area; and 9 in the Tulsa, Oklahoma area. Prosperity Bancshares, Inc. was founded in 1983 and is based in Houston, Texas.

3,081 Employees
Last Reported Date: 04/24/15
Founded in 1983

prosperity bancshares inc (PB) Top Compensated Officers

Chairman, Chief Executive Officer, President,...
Total Annual Compensation: $1.6M
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $825.0K
Vice Chairman, Chairman of Prosperity Bank an...
Total Annual Compensation: $825.0K
Chief Lending Officer, Executive Vice Preside...
Total Annual Compensation: $625.0K
General Counsel, Senior Executive Vice Presid...
Total Annual Compensation: $623.3K
Compensation as of Fiscal Year 2014.

prosperity bancshares inc (PB) Key Developments

Prosperity Bancshares Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Charge Offs for the First Quarter Ended March 31, 2015

Prosperity Bancshares Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total interest income of $173,605,000 compared to $154,248,000 a year ago. Net interest income was $162,905,000 compared to $143,691,000 a year ago. Income before income taxes was $110,614,000 compared to $100,661,000 a year ago. Net income available to common shareholders was $73,641,000 compared to $67,137,000 a year ago. Basic and diluted EPS was $1.05 compared to $1.01 a year ago. Return on average assets was 1.37% compared to 1.43% a year ago. Return on average common equity was 8.98% compared to 9.52% a year ago. Return on average tangible common equity was 21.84% compared to 24.23% a year ago. Book value per share was $47.15 compared to $42.87 a year ago. Tangible book value per share was $19.47 compared to $17.04 a year ago. Net interest income before provision for credit losses for the quarter ended March 31, 2015, increased 13.4% to $162.905 million compared with $143.691 million during the same period in 2014.  The increase was primarily due to a 14.5% increase in average interest-earning assets for the same period.  For the quarter, the company reported net charge offs of $1,049,000 compared with $786,000 for the three months ended March 31, 2014.

Prosperity Bancshares Inc. Declares Cash Dividend Payable on July 1, 2015

Prosperity Bancshares Inc. declared a second quarter cash dividend of $0.2725 per share, to be paid on July 1, 2015 to all shareholders of record as of June 15, 2015.

Prosperity Bancshares Mulls Acquisitions

Prosperity Bancshares Inc. (NYSE:PB) is looking for acquisitions. Chairman and Chief Executive Officer, David Zalman said, “Going over $10 billion in assets brought on new challenges from a regulatory standpoint with extra costs, policies, and procedures. We have taken on the challenges, succeeded and think we are now prepared to move forward with organic growth, mergers, and acquisitions. We continue to hear from bankers about the added regulatory requirements that are impacting their profitability. We believe that these factors combined with management and board fatigue will continue to create opportunities for those that have the ability and the will to deal with these headwinds.”

 

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Industry Analysis

PB

Industry Average

Valuation PB Industry Range
Price/Earnings 12.0x
Price/Sales 4.6x
Price/Book 1.1x
Price/Cash Flow 12.0x
TEV/Sales 3.3x
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