Last $56.97 USD
Change Today -1.42 / -2.43%
Volume 338.5K
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As of 12:26 PM 11/28/14 All times are local (Market data is delayed by at least 15 minutes).

prosperity bancshares inc (PB) Key Developments

Prosperity Bancshares Declares Fourth Quarter Cash Dividend, Payable on January 2, 2015

Prosperity Bancshares declared a fourth quarter cash dividend of $0.2725, an increase of 13.5% over the third quarter dividend of $0.24, to be paid on January 2, 2015 to all shareholders of record as of December 15, 2014.

Prosperity Bancshares Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Announces Net Charge-Offs for the Third Quarter Ended September 30, 2014

Prosperity Bancshares Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total interest income of $187.466 million compared to $136.213 million a year ago. Net interest income was $175.657 million compared to $126.533 million a year ago. Income before income taxes was $115.308 million compared $82.525 million a year ago. Net income available to common shareholders was $76.570 million compared to $55.278 million a year ago. Diluted earnings per share were $1.10 compared to $0.91 a year ago. Return on average assets was 1.45% compared to 1.37% a year ago. Return on average common equity was 9.69% compared to 9.31% a year ago. Return on average tangible common equity was 24.84% compared to 22.14% a year ago. Net income available to common shareholders, adjusted was $58.646 million compared to $45.802 million a year ago. Tangible book value per share was $18.01 compared to $16.76 a year ago. Net interest income before provision for credit losses increased 38.8% to $175.657 million, compared with $126.533 million during the same period in 2013. The increase was primarily due to a 28.8% increase in average interest-earning assets for the same period. For the nine months, the company reported total interest income of $528.217 million compared to $383.546 million a year ago. Net interest income was $493.403 million compared to $353.357 million a year ago. Income before income taxes was $329.004 million compared $235.647 million a year ago. Net income available to common shareholders was $219.213 million compared to $158.427 million a year ago. Diluted earnings per share were $3.19 compared to $2.67 a year ago. Return on average assets was 1.44% compared to 1.33% a year ago. Return on average common equity was 9.67% compared to 9.29% a year ago. Return on average tangible common equity was 24.38% compared to 22.21% a year ago. Tangible book value per share was $18.01 compared to $16.76 a year ago. Net income available to common shareholders, adjusted was $117.726 million compared to $135.056 million a year ago. Book value per share was $45.63 as at Sep. 30, 2014 compared to $39.57 a year ago. Net interest income before provision for credit losses increased 39.6% to $493.403 million, compared with $353.357 million during the same period in 2013. The increase was primarily due to a 28.3% increase in average interest-earning assets over the same period. For the third quarter, the company reported net charge-offs of $653,000 compared to $288,000 a year ago.

Prosperity Bancshares Inc. to Report Q3, 2014 Results on Oct 29, 2014

Prosperity Bancshares Inc. announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Oct 29, 2014

Prosperity Bancshares Inc., Q3 2014 Earnings Call, Oct 29, 2014

Prosperity Bancshares Inc., Q3 2014 Earnings Call, Oct 29, 2014

Prosperity Bancshares, Inc. Declares Quarterly Cash Dividend, Payable on October 1, 2014

Prosperity Bancshares Inc. declared a quarterly cash dividend of $0.24 per share to holders of Prosperity's common stock. The third quarter dividend is payable on October 1, 2014 to all shareholders of record as of September 15, 2014.

 

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Valuation PB Industry Range
Price/Earnings 14.0x
Price/Sales 5.6x
Price/Book 1.3x
Price/Cash Flow 14.4x
TEV/Sales 4.0x
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