Copeland Capital Management LLC Sells 8,037 Shares of Prosperity Bancshares, Inc. (NYSE:PB)

Copeland Capital Management LLC trimmed its holdings in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 464,858 shares of the bank's stock after selling 8,037 shares during the quarter. Copeland Capital Management LLC owned 0.49% of Prosperity Bancshares worth $35,027,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Prosperity Bancshares by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,708,509 shares of the bank's stock valued at $123,162,000 after purchasing an additional 15,309 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Prosperity Bancshares by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,183,295 shares of the bank's stock valued at $85,280,000 after purchasing an additional 6,518 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Prosperity Bancshares by 4.6% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 835,565 shares of the bank's stock valued at $60,219,000 after purchasing an additional 36,480 shares during the period. Verition Fund Management LLC increased its stake in shares of Prosperity Bancshares by 0.5% in the third quarter. Verition Fund Management LLC now owns 834,701 shares of the bank's stock valued at $60,157,000 after purchasing an additional 3,978 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Prosperity Bancshares by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 818,744 shares of the bank's stock valued at $59,007,000 after buying an additional 6,972 shares during the last quarter. Institutional investors and hedge funds own 80.69% of the company's stock.

Insiders Place Their Bets

In related news, Chairman H E. Timanus, Jr. sold 4,000 shares of the firm's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $86.50, for a total value of $346,000.00. Following the completion of the transaction, the chairman now directly owns 229,953 shares of the company's stock, valued at approximately $19,890,934.50. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ned S. Holmes sold 500 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $79.92, for a total transaction of $39,960.00. Following the completion of the sale, the director now owns 107,815 shares of the company's stock, valued at approximately $8,616,574.80. This represents a 0.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,100 shares of company stock worth $1,236,104. Corporate insiders own 4.28% of the company's stock.

Prosperity Bancshares Price Performance

Shares of NYSE PB traded down $0.09 during mid-day trading on Wednesday, hitting $80.16. The company's stock had a trading volume of 190,468 shares, compared to its average volume of 524,107. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 15.85, a price-to-earnings-growth ratio of 0.97 and a beta of 0.94. The company's fifty day simple moving average is $78.46 and its 200-day simple moving average is $75.32. Prosperity Bancshares, Inc. has a one year low of $57.16 and a one year high of $86.75.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its earnings results on Wednesday, January 29th. The bank reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.04. Prosperity Bancshares had a return on equity of 6.64% and a net margin of 26.79%. On average, sell-side analysts predict that Prosperity Bancshares, Inc. will post 5.8 EPS for the current year.

Prosperity Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Friday, March 14th. Prosperity Bancshares's payout ratio is presently 45.85%.

Wall Street Analysts Forecast Growth

PB has been the topic of several recent analyst reports. Bank of America raised Prosperity Bancshares from an "underperform" rating to a "neutral" rating and set a $80.00 target price on the stock in a research note on Tuesday, January 7th. Wedbush reissued an "outperform" rating and set a $90.00 target price on shares of Prosperity Bancshares in a research note on Thursday, October 24th. Wolfe Research reaffirmed a "peer perform" rating on shares of Prosperity Bancshares in a research note on Thursday, December 5th. UBS Group cut their target price on Prosperity Bancshares from $77.00 to $76.00 and set a "buy" rating for the company in a research report on Thursday, December 26th. Finally, StockNews.com upgraded Prosperity Bancshares from a "sell" rating to a "hold" rating in a research report on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Prosperity Bancshares has an average rating of "Moderate Buy" and a consensus target price of $82.88.

Prosperity Bancshares Company Profile

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.