BancorpSouth Inc. (BXS) Upgraded by Zacks Investment Research to Hold
According to Zacks, “BancorpSouth’s estimates have been stable lately ahead of the company’s third-quarter 2016 earnings release. BancorpSouth efforts toward expense management will likely boost the company’s bottom-line growth in the upcoming quarters. Notably, management believes that an expected decline in other real estate (ORE) expenses in 2016 will enhance earnings. Further, its steady capital deployment activities enhance shareholders’ value. In Jul 2016, the company raised its quarterly cash dividend by 25%. Further, the company is well-positioned for long-term growth, given its continued improvement in asset quality and opportunistic acquisitions. However, the company continues to face margin pressure amid the low rate environment. Further, revenue challenges linger from a muted growth in non-interest income.”
Other equities research analysts also recently issued reports about the company. FBR & Co reiterated a buy rating on shares of BancorpSouth in a research report on Saturday, July 9th. JPMorgan Chase & Co. restated a hold rating and set a $24.00 price objective on shares of BancorpSouth in a research report on Friday, July 22nd. Finally, Keefe, Bruyette & Woods upgraded BancorpSouth from a market perform rating to an outperform rating and upped their price objective for the company from $24.00 to $25.00 in a research report on Thursday, June 30th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $24.71.
BancorpSouth (NYSE:BXS) traded up 0.52% during midday trading on Monday, hitting $23.13. The company had a trading volume of 18,865 shares. The stock has a 50 day moving average price of $23.98 and a 200 day moving average price of $23.04. BancorpSouth has a 52 week low of $18.69 and a 52 week high of $27.23. The company has a market capitalization of $2.19 billion, a P/E ratio of 19.45 and a beta of 1.20.
BancorpSouth (NYSE:BXS) last posted its earnings results on Wednesday, July 20th. The company reported $0.39 EPS for the quarter, hitting analysts’ consensus estimates of $0.39. BancorpSouth had a return on equity of 8.36% and a net margin of 15.25%. During the same period in the prior year, the company earned $0.41 EPS. Equities analysts forecast that BancorpSouth will post $1.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.17%. The ex-dividend date was Tuesday, September 13th. This is a boost from BancorpSouth’s previous quarterly dividend of $0.10. BancorpSouth’s dividend payout ratio (DPR) is 42.02%.
In other BancorpSouth news, insider James Ronald Hodges sold 4,543 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $24.01, for a total transaction of $109,077.43. Following the sale, the insider now owns 26,900 shares of the company’s stock, valued at approximately $645,869. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.93% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC boosted its stake in BancorpSouth by 27.4% in the second quarter. Silvercrest Asset Management Group LLC now owns 4,419,861 shares of the company’s stock worth $100,286,000 after buying an additional 951,651 shares during the last quarter. Renaissance Technologies LLC boosted its stake in BancorpSouth by 86.6% in the first quarter. Renaissance Technologies LLC now owns 980,600 shares of the company’s stock worth $20,897,000 after buying an additional 455,087 shares during the last quarter. Vanguard Group Inc. boosted its stake in BancorpSouth by 5.0% in the second quarter. Vanguard Group Inc. now owns 6,206,513 shares of the company’s stock worth $140,826,000 after buying an additional 295,789 shares during the last quarter. Cortina Asset Management LLC acquired a new stake in BancorpSouth during the second quarter worth $6,099,000. Finally, Emerald Acquisition Ltd. acquired a new stake in BancorpSouth during the second quarter worth $4,869,000. 62.98% of the stock is currently owned by institutional investors and hedge funds.
BancorpSouth Company Profile
BancorpSouth, Inc is a financial holding company. The Company, through its principal bank subsidiary, BancorpSouth Bank (the Bank), conducts commercial banking and financial services operations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee, Texas and Illinois. The Company’s segments include Community Banking, Insurance Agencies, and General Corporate and Other.
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