BancorpSouth Inc. (BXS) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS
BancorpSouth Inc. (NYSE:BXS) released its earnings results on Wednesday. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The firm earned $185.50 million during the quarter, compared to the consensus estimate of $193.14 million. BancorpSouth had a return on equity of 8.36% and a net margin of 15.25%. BancorpSouth’s revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS.
BancorpSouth (NYSE:BXS) traded up 1.72% on Wednesday, reaching $23.65. 665,565 shares of the company’s stock were exchanged. BancorpSouth has a one year low of $18.69 and a one year high of $27.23. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of 19.89 and a beta of 1.20. The firm has a 50 day moving average of $23.64 and a 200-day moving average of $23.18.
The firm 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 is an increase from BancorpSouth’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.50 dividend on an annualized basis and a yield of 2.11%. BancorpSouth’s dividend payout ratio (DPR) is 42.02%.
In other news, insider James Ronald Hodges sold 4,543 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $24.01, for a total transaction of $109,077.43. Following the completion of the sale, the insider now owns 26,900 shares of the company’s stock, valued at $645,869. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.93% of the company’s stock.
Several large investors have recently added to or reduced their stakes in BXS. Creative Planning raised its stake in BancorpSouth by 65.6% in the third quarter. Creative Planning now owns 4,369 shares of the company’s stock worth $101,000 after buying an additional 1,730 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in BancorpSouth during the second quarter worth about $111,000. LS Investment Advisors LLC raised its stake 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 last quarter. Bessemer Group Inc. raised its stake 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 last quarter. Finally, Argent Trust Co acquired a new stake in BancorpSouth during the second quarter worth about $209,000. 63.01% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the stock. FBR & Co restated a “buy” rating on shares of BancorpSouth in a report on Saturday, July 9th. Zacks Investment Research upgraded shares of BancorpSouth from a “sell” rating to a “hold” rating in a report on Friday, July 8th. JPMorgan Chase & Co. lowered their target price on shares of BancorpSouth from $24.00 to $23.50 and set a “neutral” rating for the company in a report on Thursday, July 7th. Raymond James Financial Inc. lowered shares of BancorpSouth from a “market perform” rating to an “underperform” rating in a report on Thursday, October 6th. Finally, Keefe, Bruyette & Woods upgraded shares of BancorpSouth from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $24.00 to $25.00 in a report on Thursday, June 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. BancorpSouth has an average rating of “Hold” and an average target price of $24.71.
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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