Copeland Capital Management LLC Acquires 1,219 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Copeland Capital Management LLC lifted its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 131,483 shares of the bank’s stock after acquiring an additional 1,219 shares during the quarter. Copeland Capital Management LLC owned approximately 0.19% of Prosperity Bancshares worth $9,287,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in PB. Findlay Park Partners LLP raised its holdings in Prosperity Bancshares by 42.1% in the third quarter. Findlay Park Partners LLP now owns 2,998,648 shares of the bank’s stock worth $211,795,000 after purchasing an additional 888,095 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Prosperity Bancshares by 146.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,468,491 shares of the bank’s stock worth $103,720,000 after purchasing an additional 872,086 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in Prosperity Bancshares by 106.8% in the second quarter. Wasatch Advisors Inc. now owns 391,671 shares of the bank’s stock worth $25,870,000 after purchasing an additional 202,236 shares in the last quarter. Citadel Advisors LLC raised its holdings in Prosperity Bancshares by 699.2% in the second quarter. Citadel Advisors LLC now owns 199,102 shares of the bank’s stock worth $13,150,000 after purchasing an additional 174,190 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in Prosperity Bancshares in the second quarter worth $10,266,000. Institutional investors own 87.09% of the company’s stock.

In other news, EVP Robert J. Dowdell sold 7,600 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $65.45, for a total value of $497,420.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.86% of the company’s stock.

PB has been the subject of a number of research reports. SunTrust Banks set a $82.00 price objective on Prosperity Bancshares and gave the stock a “buy” rating in a report on Friday, October 25th. Piper Jaffray Companies set a $75.50 price objective on Prosperity Bancshares and gave the stock a “hold” rating in a report on Friday, October 25th. ValuEngine upgraded Prosperity Bancshares from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Zacks Investment Research downgraded Prosperity Bancshares from a “hold” rating to a “sell” rating and set a $73.00 price objective for the company. in a report on Thursday, October 3rd. Finally, Morgan Stanley decreased their price objective on Prosperity Bancshares from $67.00 to $66.00 and set an “equal weight” rating for the company in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Prosperity Bancshares currently has an average rating of “Hold” and an average target price of $72.90.

NYSE PB opened at $71.72 on Tuesday. Prosperity Bancshares, Inc. has a 12 month low of $57.01 and a 12 month high of $75.36. The stock has a market cap of $4.93 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.50 and a beta of 1.35. The stock’s fifty day moving average price is $70.79 and its 200-day moving average price is $68.44.

Prosperity Bancshares (NYSE:PB) last released its earnings results on Wednesday, October 23rd. The bank reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Prosperity Bancshares had a return on equity of 8.02% and a net margin of 38.03%. The firm had revenue of $184.67 million for the quarter, compared to analysts’ expectations of $187.48 million. During the same period in the prior year, the firm posted $1.18 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts expect that Prosperity Bancshares, Inc. will post 4.8 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a $0.46 dividend. This is a boost from Prosperity Bancshares’s previous quarterly dividend of $0.41. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, December 13th. Prosperity Bancshares’s dividend payout ratio is currently 35.57%.

About Prosperity Bancshares

Prosperity Bancshares, Inc operates as bank holding company for the Prosperity Bank that provides retail and commercial banking services to small and medium-sized businesses, and consumers. It accepts various deposit products, such as demand, savings, money market, and time accounts. The company also offers 1-4 family residential mortgage, commercial mortgage and multifamily residential, commercial and industrial, agricultural real estate, 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; and consumer durables and home equity loans.

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Institutional Ownership by Quarter for Prosperity Bancshares (NYSE:PB)

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