BancorpSouth Inc. (NYSE:BXS) was downgraded by Raymond James Financial Inc. from a “market perform” rating to an “underperform” rating in a research note issued to investors on Thursday.
Other equities research analysts have also issued reports about the stock. FBR & Co reiterated a “buy” rating on shares of BancorpSouth in a research note on Saturday, July 9th. Zacks Investment Research upgraded shares of BancorpSouth from a “sell” rating to a “hold” rating in a research note on Monday, October 3rd. JPMorgan Chase & Co. reiterated a “hold” rating and set a $24.00 target price on shares of BancorpSouth in a research note on Friday, July 22nd. Finally, Keefe, Bruyette & Woods upgraded BancorpSouth from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $24.00 to $25.00 in a research note on Thursday, June 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $24.71.
Shares of BancorpSouth (NYSE:BXS) opened at 23.24 on Thursday. BancorpSouth has a 52-week low of $18.69 and a 52-week high of $27.23. The stock has a market cap of $2.20 billion, a P/E ratio of 19.55 and a beta of 1.20. The firm’s 50-day moving average price is $23.92 and its 200-day moving average price is $23.07.
BancorpSouth (NYSE:BXS) last announced its earnings results on Wednesday, July 20th. The company reported $0.39 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.39. BancorpSouth had a net margin of 15.25% and a return on equity of 8.36%. During the same quarter last year, the firm posted $0.41 earnings per share. Equities analysts predict that BancorpSouth will post $1.51 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were issued a $0.125 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.50 annualized dividend and a yield of 2.15%. This is an increase 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 company’s stock in a transaction on 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 of the company’s stock, valued at approximately $645,869. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 3.93% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BXS. Vanguard Group Inc. increased its position in shares of BancorpSouth by 5.0% in the second quarter. Vanguard Group Inc. now owns 6,206,513 shares of the company’s stock valued at $140,826,000 after buying an additional 295,789 shares in the last quarter. State Street Corp increased its position in shares of BancorpSouth by 3.4% in the first quarter. State Street Corp now owns 4,486,002 shares of the company’s stock valued at $95,598,000 after buying an additional 147,540 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position in shares of BancorpSouth by 27.4% in the second quarter. Silvercrest Asset Management Group LLC now owns 4,419,861 shares of the company’s stock valued at $100,286,000 after buying an additional 951,651 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of BancorpSouth by 5.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,820,324 shares of the company’s stock valued at $86,680,000 after buying an additional 200,626 shares in the last quarter. Finally, Skyline Asset Management LP increased its position in shares of BancorpSouth by 3.9% in the first quarter. Skyline Asset Management LP now owns 1,205,100 shares of the company’s stock valued at $25,681,000 after buying an additional 45,200 shares in the last quarter. 62.98% of the stock is owned by institutional investors.
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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