BancorpSouth, Inc. (BXS) Rating Lowered to Hold at Zacks Investment Research
BancorpSouth, Inc. (NYSE:BXS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Shares of BancorpSouth have outperformed the industry over the past six months. The performance was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Given a strong balance sheet position, the company has been steadily enhancing shareholders’ value through strategic acquisitions, dividend hikes and share buybacks. Notably, the company has entered into an Agreement and Plan of Reorganization whereby BancorpSouth will be merged with and into its wholly-owned bank subsidiary, BancorpSouth Bank. Further, its efforts to enhance non-interest income will go a long way in supporting the bottom line. Though, continued pressure on margin due to lower yields remains a major concern, BancorpSouth’s expense management initiatives keep us encouraged.”
Several other equities analysts have also recently commented on the stock. ValuEngine upgraded shares of BancorpSouth from a “hold” rating to a “buy” rating in a research note on Wednesday, September 20th. Royal Bank Of Canada reiterated a “hold” rating and set a $31.00 target price on shares of BancorpSouth in a research note on Friday, September 8th. BidaskClub cut shares of BancorpSouth from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Jefferies Group LLC reiterated a “hold” rating and set a $33.00 target price on shares of BancorpSouth in a research note on Friday, August 11th. Finally, Brean Capital reiterated a “hold” rating on shares of BancorpSouth in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $32.67.
BancorpSouth (NYSE BXS) opened at 31.75 on Tuesday. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 19.55 and a beta of 1.43. The firm’s 50-day moving average is $29.83 and its 200 day moving average is $29.98. BancorpSouth has a one year low of $22.23 and a one year high of $32.70.
BancorpSouth (NYSE:BXS) last released its earnings results on Wednesday, July 19th. The bank reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm had revenue of $185.61 million during the quarter, compared to analysts’ expectations of $187.78 million. BancorpSouth had a net margin of 19.46% and a return on equity of 8.77%. During the same period in the prior year, the company earned $0.39 EPS. Analysts forecast that BancorpSouth will post $1.66 EPS for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in BXS. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in BancorpSouth by 61.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,525 shares of the bank’s stock valued at $107,000 after buying an additional 1,341 shares during the period. Riverhead Capital Management LLC increased its holdings in BancorpSouth by 92.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,657 shares of the bank’s stock valued at $112,000 after buying an additional 1,757 shares during the period. Sei Investments Co. increased its holdings in BancorpSouth by 124.2% in the 1st quarter. Sei Investments Co. now owns 4,510 shares of the bank’s stock valued at $136,000 after buying an additional 2,498 shares during the period. US Bancorp DE increased its holdings in BancorpSouth by 16.0% in the 1st quarter. US Bancorp DE now owns 5,148 shares of the bank’s stock valued at $155,000 after buying an additional 711 shares during the period. Finally, LS Investment Advisors LLC increased its holdings in BancorpSouth by 15.8% in the 2nd quarter. LS Investment Advisors LLC now owns 6,615 shares of the bank’s stock valued at $202,000 after buying an additional 901 shares during the period. 65.24% of the stock is currently owned by hedge funds and other institutional investors.
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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