BancorpSouth, Inc. (BXS) Rating Lowered to Hold at ValuEngine
BancorpSouth, Inc. (NYSE:BXS) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday.
A number of other research firms have also weighed in on BXS. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $32.00 price objective on shares of BancorpSouth in a research report on Thursday, October 12th. Piper Jaffray Companies reissued a “hold” rating and issued a $31.00 price objective on shares of BancorpSouth in a research report on Friday, July 21st. Zacks Investment Research raised shares of BancorpSouth from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, September 19th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $33.00 price target on shares of BancorpSouth in a research report on Friday, October 20th. Finally, BidaskClub lowered shares of BancorpSouth from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. BancorpSouth has a consensus rating of “Hold” and an average target price of $33.00.
BancorpSouth (NYSE BXS) opened at $30.60 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $2,773.12, a P/E ratio of 18.72 and a beta of 1.41. BancorpSouth has a 52-week low of $26.35 and a 52-week high of $32.70.
BancorpSouth (NYSE:BXS) last posted its quarterly earnings data on Thursday, October 19th. The bank reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $186.52 million during the quarter, compared to analyst estimates of $191.32 million. BancorpSouth had a net margin of 19.59% and a return on equity of 8.97%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. analysts forecast that BancorpSouth will post 1.65 EPS for the current year.
BancorpSouth announced that its board has initiated a stock repurchase program on Tuesday, October 31st that allows the company to buyback 6,000,000 shares. This buyback authorization allows the bank to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in BancorpSouth by 5.0% during the first quarter. Vanguard Group Inc. now owns 6,965,034 shares of the bank’s stock worth $210,692,000 after buying an additional 331,845 shares during the period. State Street Corp grew its stake in BancorpSouth by 6.8% during the second quarter. State Street Corp now owns 4,886,258 shares of the bank’s stock worth $149,028,000 after buying an additional 310,447 shares during the period. Northern Trust Corp grew its stake in BancorpSouth by 8.2% during the second quarter. Northern Trust Corp now owns 2,583,338 shares of the bank’s stock worth $78,792,000 after buying an additional 196,469 shares during the period. Goldman Sachs Group Inc. grew its stake in BancorpSouth by 0.4% during the second quarter. Goldman Sachs Group Inc. now owns 1,662,759 shares of the bank’s stock worth $50,714,000 after buying an additional 6,558 shares during the period. Finally, Victory Capital Management Inc. grew its stake in BancorpSouth by 50.7% during the third quarter. Victory Capital Management Inc. now owns 1,181,986 shares of the bank’s stock worth $37,883,000 after buying an additional 397,740 shares during the period. Institutional investors own 66.29% of the company’s stock.
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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