Prosperity Bancshares reports Q3 EPS $1.19, consensus $1.18
Reports Q3 book value per share $60.34. Reports Q3 CET1 capital ratio 16.68%. Reports Q3 net charge-offs 0.04%. "I am very excited with all that is going on at Prosperity. We had strong financial results in the third quarter, with net income of $81.758 million, return on average assets of 1.47% annualized and return on average tangible common equity of 14.77% annualized. We were pleased with the net interest margin on a tax equivalent basis of 3.16% for the third quarter 2019, compared with 3.15% for the same period in 2018 and 3.16% on a linked quarter basis for the second quarter 2019," said David Zalman, Prosperity's Chairman and CEO. "Additionally, our board of directors voted to increase the fourth quarter dividend to 46c per share, a 12.2% increase. Our company continues to perform well and we want to share that success with our shareholders," continued Zalman.