Raymond James Financial Inc. Lowers BancorpSouth Inc. (BXS) to Underperform
A number of other analysts have also recently weighed in on BXS. Keefe, Bruyette & Woods upgraded BancorpSouth from a market perform rating to an outperform rating and upped their price target for the company from $24.00 to $25.00 in a research report on Thursday, June 30th. JPMorgan Chase & Co. lowered their price target on BancorpSouth from $24.00 to $23.50 and set a neutral rating on the stock in a research report on Thursday, July 7th. Zacks Investment Research upgraded BancorpSouth from a sell rating to a hold rating in a research report on Friday, July 8th. Finally, FBR & Co reiterated a buy rating on shares of BancorpSouth in a research report on Saturday, July 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $24.71.
BancorpSouth (NYSE:BXS) opened at 23.30 on Thursday. BancorpSouth has a 52 week low of $18.69 and a 52 week high of $27.23. The company has a 50-day moving average price of $23.91 and a 200-day moving average price of $23.12. The stock has a market cap of $2.20 billion, a PE ratio of 19.60 and a beta of 1.20.
BancorpSouth (NYSE:BXS) last announced its quarterly 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 return on equity of 8.36% and a net margin of 15.25%. During the same period in the previous year, the business earned $0.41 EPS. Analysts anticipate that BancorpSouth will post $1.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Thursday, September 15th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Tuesday, September 13th. This is a positive change from BancorpSouth’s previous quarterly dividend of $0.10. BancorpSouth’s dividend payout ratio is 42.02%.
In other news, insider James Ronald Hodges sold 4,543 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $24.01, for a total transaction of $109,077.43. Following the transaction, the insider now owns 26,900 shares of the company’s stock, valued at $645,869. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.93% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Northwestern Mutual Investment Management Company LLC raised its position in shares of BancorpSouth by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 14,673 shares of the company’s stock valued at $333,000 after buying an additional 41 shares during the period. Mason Street Advisors LLC purchased a new position in shares of BancorpSouth during the second quarter valued at about $879,000. Legal & General Group Plc raised its position in shares of BancorpSouth by 0.8% in the second quarter. Legal & General Group Plc now owns 23,695 shares of the company’s stock valued at $537,000 after buying an additional 191 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of BancorpSouth by 1.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 144,524 shares of the company’s stock valued at $3,279,000 after buying an additional 2,366 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of BancorpSouth during the second quarter valued at about $399,000. 62.98% of the stock is currently owned by institutional investors and hedge funds.
BancorpSouth Company Profile
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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