Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded BancorpSouth from a hold rating to a buy rating and set a $34.00 price objective for the company in a research note on Wednesday, August 2nd. Stephens set a $35.00 price objective on BancorpSouth and gave the company a buy rating in a research note on Thursday, July 27th. ValuEngine upgraded BancorpSouth from a hold rating to a buy rating in a research note on Wednesday, September 20th. Royal Bank Of Canada reiterated a hold rating and issued a $31.00 price objective on shares of BancorpSouth in a research note on Friday, September 8th. Finally, Piper Jaffray Companies reiterated a hold rating and issued a $31.00 price objective on shares of BancorpSouth in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $33.00.
BancorpSouth (NYSE:BXS) traded up $0.50 during midday trading on Monday, hitting $32.40. 630,469 shares of the company’s stock were exchanged, compared to its average volume of 589,467. The stock has a market capitalization of $2.94 billion, a P/E ratio of 19.85 and a beta of 1.41.
BancorpSouth (NYSE:BXS) last posted its earnings results on Thursday, October 19th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. BancorpSouth had a return on equity of 8.98% and a net margin of 19.59%. The firm had revenue of $186.52 million during the quarter, compared to analysts’ expectations of $191.32 million. During the same quarter in the previous year, the business earned $0.40 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. sell-side analysts expect that BancorpSouth will post 1.65 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Thursday, December 14th. BancorpSouth’s payout ratio is currently 33.94%.
BancorpSouth declared that its board has initiated a share buyback plan on Tuesday, October 31st that authorizes the company to repurchase 6,000,000 outstanding shares. This repurchase authorization authorizes the bank to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Large investors have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC increased its holdings in shares of BancorpSouth by 92.5% in the second quarter. Riverhead Capital Management LLC now owns 3,657 shares of the bank’s stock valued at $112,000 after purchasing an additional 1,757 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of BancorpSouth by 9.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,841 shares of the bank’s stock valued at $117,000 after purchasing an additional 316 shares during the period. Sei Investments Co. increased its holdings in shares of BancorpSouth by 34.4% in the second quarter. Sei Investments Co. now owns 6,063 shares of the bank’s stock valued at $186,000 after purchasing an additional 1,553 shares during the period. Oakbrook Investments LLC acquired a new position in shares of BancorpSouth in the third quarter valued at approximately $202,000. Finally, Crossmark Global Holdings Inc. acquired a new position in shares of BancorpSouth in the third quarter valued at approximately $203,000. 65.85% of the stock is currently owned by institutional investors and hedge funds.
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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