Bancorpsouth Bank (NYSE:BXS) Coverage Initiated at Piper Jaffray Companies

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Stock analysts at Piper Jaffray Companies began coverage on shares of Bancorpsouth Bank (NYSE:BXS) in a research note issued to investors on Wednesday, The Fly reports. The brokerage set a “neutral” rating on the bank’s stock.

Several other brokerages also recently weighed in on BXS. Royal Bank of Canada set a $31.00 price objective on shares of Bancorpsouth Bank and gave the company a “hold” rating in a research report on Friday, July 19th. DA Davidson initiated coverage on shares of Bancorpsouth Bank in a research report on Tuesday, August 20th. They issued a “neutral” rating and a $30.50 price objective on the stock. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.90.

Bancorpsouth Bank stock opened at $29.59 on Wednesday. The firm’s 50-day moving average is $28.02 and its 200-day moving average is $28.84. Bancorpsouth Bank has a 1 year low of $24.31 and a 1 year high of $34.80. The company has a market cap of $2.99 billion, a P/E ratio of 13.27 and a beta of 1.45.

Bancorpsouth Bank (NYSE:BXS) last posted its quarterly earnings results on Wednesday, July 17th. The bank reported $0.61 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.61. Bancorpsouth Bank had a net margin of 22.39% and a return on equity of 10.30%. The company had revenue of $226.35 million for the quarter, compared to the consensus estimate of $234.95 million. During the same period last year, the firm posted $0.55 EPS. As a group, equities analysts expect that Bancorpsouth Bank will post 2.35 EPS for the current year.

Large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. lifted its position in Bancorpsouth Bank by 74.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 6,239 shares of the bank’s stock valued at $181,000 after purchasing an additional 2,659 shares during the last quarter. Comerica Bank lifted its position in Bancorpsouth Bank by 2.3% in the 2nd quarter. Comerica Bank now owns 152,825 shares of the bank’s stock valued at $4,304,000 after purchasing an additional 3,389 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Bancorpsouth Bank by 424.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 125,792 shares of the bank’s stock valued at $3,550,000 after purchasing an additional 101,824 shares during the last quarter. New York State Common Retirement Fund lifted its position in Bancorpsouth Bank by 4.1% in the 1st quarter. New York State Common Retirement Fund now owns 99,170 shares of the bank’s stock valued at $2,799,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Aviva PLC bought a new stake in Bancorpsouth Bank in the 2nd quarter valued at about $1,180,000. Hedge funds and other institutional investors own 63.24% of the company’s stock.

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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The Fly

Analyst Recommendations for Bancorpsouth Bank (NYSE:BXS)

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