BancorpSouth Inc. (BXS) Cut to “Underperform” at Raymond James Financial Inc.
BancorpSouth Inc. (NYSE:BXS) was downgraded by equities research analysts at Raymond James Financial Inc. from a “market perform” rating to an “underperform” rating in a research report issued to clients and investors on Thursday.
A number of other research analysts also recently weighed in on the company. Keefe, Bruyette & Woods raised BancorpSouth from a “market perform” rating to an “outperform” rating and increased their price target for the company from $24.00 to $25.00 in a research note on Thursday, June 30th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $24.00 price target on shares of BancorpSouth in a research note on Friday, July 22nd. Zacks Investment Research raised BancorpSouth from a “sell” rating to a “hold” rating in a research note on Monday. Finally, FBR & Co reissued a “buy” rating on shares of BancorpSouth in a research note on Saturday, July 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. BancorpSouth currently has an average rating of “Hold” and a consensus target price of $24.71.
BancorpSouth (NYSE:BXS) opened at 23.38 on Thursday. The firm has a market capitalization of $2.21 billion, a PE ratio of 19.66 and a beta of 1.20. BancorpSouth has a one year low of $18.69 and a one year high of $27.23. The company has a 50 day moving average price of $23.96 and a 200-day moving average price of $23.06.
BancorpSouth (NYSE:BXS) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.39 earnings per share for the quarter, meeting the Zacks’ consensus estimate 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 posted $0.41 EPS. On average, equities analysts predict that BancorpSouth will post $1.52 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.14%. 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 is 42.02%.
In other BancorpSouth news, insider James Ronald Hodges sold 4,543 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $24.01, for a total transaction of $109,077.43. Following the completion of the transaction, the insider now owns 26,900 shares in the company, valued at approximately $645,869. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.93% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Pacad Investment Ltd. purchased a new position in BancorpSouth during the second quarter worth about $111,000. LS Investment Advisors LLC boosted its position in BancorpSouth by 78.2% in the second quarter. LS Investment Advisors LLC now owns 5,121 shares of the company’s stock worth $116,000 after buying an additional 2,248 shares during the period. Bessemer Group Inc. boosted its position in BancorpSouth by 119.9% in the second quarter. Bessemer Group Inc. now owns 7,066 shares of the company’s stock worth $160,000 after buying an additional 3,852 shares during the period. Argent Trust Co purchased a new position in BancorpSouth during the second quarter worth about $209,000. Finally, Parametrica Management Ltd purchased a new position in BancorpSouth during the second quarter worth about $225,000. Hedge funds and other institutional investors own 62.98% of the company’s stock.
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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