Cramer Rosenthal Mcglynn LLC trimmed its holdings in Bancorpsouth Bank (NYSE:BXS) by 2.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,091,193 shares of the bank’s stock after selling 30,045 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned about 1.10% of Bancorpsouth Bank worth $31,688,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in BXS. Dimensional Fund Advisors LP boosted its holdings in Bancorpsouth Bank by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,017,562 shares of the bank’s stock valued at $105,019,000 after purchasing an additional 84,102 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Bancorpsouth Bank by 13.9% in the fourth quarter. Geode Capital Management LLC now owns 979,129 shares of the bank’s stock valued at $25,594,000 after purchasing an additional 119,301 shares in the last quarter. Alps Advisors Inc. acquired a new position in Bancorpsouth Bank in the first quarter valued at approximately $381,000. Rhumbline Advisers boosted its holdings in Bancorpsouth Bank by 3.9% in the first quarter. Rhumbline Advisers now owns 311,320 shares of the bank’s stock valued at $8,785,000 after purchasing an additional 11,773 shares in the last quarter. Finally, Comerica Bank boosted its holdings in Bancorpsouth Bank by 1.6% in the first quarter. Comerica Bank now owns 149,436 shares of the bank’s stock valued at $4,375,000 after purchasing an additional 2,388 shares in the last quarter. 63.28% of the stock is owned by hedge funds and other institutional investors.
NYSE BXS traded up $0.53 on Friday, reaching $30.13. The stock had a trading volume of 1,378 shares, compared to its average volume of 363,032. Bancorpsouth Bank has a 12-month low of $24.31 and a 12-month high of $34.80. The business’s 50-day moving average price is $28.00 and its 200 day moving average price is $28.94. The stock has a market cap of $2.98 billion, a P/E ratio of 13.41 and a beta of 1.45.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, September 12th. This is a boost from Bancorpsouth Bank’s previous quarterly dividend of $0.17. Bancorpsouth Bank’s dividend payout ratio is 30.49%.
A number of equities research analysts have weighed in on the company. Royal Bank of Canada set a $31.00 price objective on Bancorpsouth Bank and gave the company a “hold” rating in a research note on Friday, July 19th. DA Davidson assumed coverage on Bancorpsouth Bank in a research note on Tuesday, August 20th. They issued a “neutral” rating and a $30.50 price objective for the company. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.90.
About Bancorpsouth Bank
BancorpSouth Bank provides commercial banking and financial services to individuals and small-to-medium size businesses. It offers various deposit products, including interest and noninterest bearing demand deposits, and saving and other time deposits. The company also provides commercial loans, including term loans, lines of credit, equipment and receivable financing, and agricultural loans; a range of short-to-medium term secured and unsecured commercial loans to businesses for working capital, business expansion, and the purchase of equipment and machinery; and construction loans to real estate developers for the acquisition, development, and construction of residential subdivisions.
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