BancorpSouth Inc. (NYSE:BXS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
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.”
A number of other analysts have also recently weighed in on BXS. FBR & Co reissued a “buy” rating on shares of BancorpSouth in a report on Saturday, July 9th. JPMorgan Chase & Co. dropped their target price on shares of BancorpSouth from $24.00 to $23.50 and set a “neutral” rating on the stock in a report on Thursday, July 7th. Finally, Keefe, Bruyette & Woods raised shares of BancorpSouth from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $24.00 to $25.00 in a report on Thursday, June 30th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $24.71.
Shares of BancorpSouth (NYSE:BXS) traded down 0.60% during trading on Monday, reaching $23.06. 322,389 shares of the company’s stock were exchanged. BancorpSouth has a 52 week low of $18.69 and a 52 week high of $27.23. The firm has a market capitalization of $2.18 billion, a PE ratio of 19.39 and a beta of 1.20. The company’s 50-day moving average price is $24.01 and its 200 day moving average price is $23.00.
BancorpSouth (NYSE:BXS) last issued its earnings results on Wednesday, July 20th. The company reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. BancorpSouth had a net margin of 15.25% and a return on equity of 8.36%. During the same quarter in the previous year, the business earned $0.41 EPS. Analysts predict that BancorpSouth will post $1.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 15th will be given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Tuesday, September 13th. This is a positive change from BancorpSouth’s previous quarterly dividend of $0.10. BancorpSouth’s dividend payout ratio is currently 42.02%.
In related news, insider James Ronald Hodges sold 4,543 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $24.01, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.93% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors L.L.C. bought a new position in shares of BancorpSouth during the first quarter worth about $526,000. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of BancorpSouth by 3.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 36,964 shares of the company’s stock worth $788,000 after buying an additional 1,350 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of BancorpSouth by 40.4% in the first quarter. TIAA CREF Investment Management LLC now owns 439,936 shares of the company’s stock worth $9,375,000 after buying an additional 126,494 shares in the last quarter. Prudential Financial Inc. raised its position in shares of BancorpSouth by 226.2% in the first quarter. Prudential Financial Inc. now owns 180,832 shares of the company’s stock worth $3,854,000 after buying an additional 125,400 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of BancorpSouth by 12.0% in the first quarter. BlackRock Inc. now owns 33,836 shares of the company’s stock worth $721,000 after buying an additional 3,628 shares in the last quarter. Hedge funds and other institutional investors own 62.98% 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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