Prosperity Bancshares, Inc. (NYSE:PB) Shares Purchased by Copeland Capital Management LLC

Copeland Capital Management LLC lifted its stake in shares of Prosperity Bancshares, Inc. (NYSE:PB - Free Report) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 472,895 shares of the bank's stock after purchasing an additional 12,573 shares during the quarter. Copeland Capital Management LLC owned about 0.50% of Prosperity Bancshares worth $34,082,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Kingsview Wealth Management LLC purchased a new stake in Prosperity Bancshares during the first quarter worth about $2,343,000. Amica Mutual Insurance Co. lifted its position in shares of Prosperity Bancshares by 41.9% during the 2nd quarter. Amica Mutual Insurance Co. now owns 157,770 shares of the bank's stock valued at $9,646,000 after acquiring an additional 46,593 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Prosperity Bancshares by 14.8% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 784,910 shares of the bank's stock worth $51,631,000 after acquiring an additional 101,230 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Prosperity Bancshares by 394.8% during the second quarter. Harbor Capital Advisors Inc. now owns 11,465 shares of the bank's stock worth $701,000 after purchasing an additional 9,148 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Prosperity Bancshares by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 9,693,076 shares of the bank's stock worth $656,512,000 after purchasing an additional 53,844 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company's stock.

Prosperity Bancshares Trading Up 1.7 %

PB traded up $1.24 during midday trading on Tuesday, hitting $72.58. The company's stock had a trading volume of 762,564 shares, compared to its average volume of 567,551. Prosperity Bancshares, Inc. has a 52-week low of $49.60 and a 52-week high of $74.96. The firm has a 50-day moving average price of $72.01 and a two-hundred day moving average price of $66.42. The firm has a market cap of $6.91 billion, a P/E ratio of 15.78, a PEG ratio of 1.53 and a beta of 0.89.

Prosperity Bancshares (NYSE:PB - Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.02. Prosperity Bancshares had a return on equity of 6.32% and a net margin of 25.10%. The business had revenue of $458.95 million for the quarter, compared to analyst estimates of $290.06 million. During the same period in the previous year, the company posted $1.21 EPS. On average, equities analysts expect that Prosperity Bancshares, Inc. will post 5.03 EPS for the current year.

Prosperity Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Friday, December 13th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, December 13th. This is a boost from Prosperity Bancshares's previous quarterly dividend of $0.56. Prosperity Bancshares's payout ratio is currently 49.02%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wedbush raised Prosperity Bancshares from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $75.00 to $90.00 in a research note on Tuesday, September 24th. Piper Sandler upped their price target on shares of Prosperity Bancshares from $73.00 to $80.00 and gave the company an "overweight" rating in a report on Thursday, July 25th. StockNews.com cut shares of Prosperity Bancshares from a "hold" rating to a "sell" rating in a research note on Wednesday, August 28th. Truist Financial lowered Prosperity Bancshares from a "buy" rating to a "hold" rating and reduced their target price for the company from $81.00 to $79.00 in a research note on Friday, September 20th. Finally, DA Davidson downgraded Prosperity Bancshares from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $80.00 to $78.00 in a research report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $77.27.

Prosperity Bancshares 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.