Principal Financial Group Inc. Buys 5,653 Shares of BancorpSouth, Inc. (BXS)
Principal Financial Group Inc. lifted its stake in BancorpSouth, Inc. (NYSE:BXS) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 350,431 shares of the bank’s stock after acquiring an additional 5,653 shares during the quarter. Principal Financial Group Inc. owned approximately 0.38% of BancorpSouth worth $10,688,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can increased its position in shares of BancorpSouth by 3.8% in the second quarter. Great West Life Assurance Co. Can now owns 50,313 shares of the bank’s stock valued at $1,531,000 after acquiring an additional 1,834 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of BancorpSouth in the first quarter valued at about $625,000. Massachusetts Financial Services Co. MA increased its position in shares of BancorpSouth by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 45,052 shares of the bank’s stock valued at $1,363,000 after acquiring an additional 536 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of BancorpSouth by 0.8% in the second quarter. Teacher Retirement System of Texas now owns 6,776 shares of the bank’s stock valued at $207,000 after acquiring an additional 54 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of BancorpSouth by 17,271.2% in the first quarter. BlackRock Inc. now owns 9,111,731 shares of the bank’s stock valued at $275,630,000 after acquiring an additional 9,059,278 shares during the last quarter. 65.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of BancorpSouth, Inc. (BXS) opened at 30.70 on Monday. The company has a market cap of $2.79 billion, a PE ratio of 18.90 and a beta of 1.40. The stock’s 50 day moving average price is $29.26 and its 200-day moving average price is $29.97. BancorpSouth, Inc. has a one year low of $22.23 and a one year high of $32.40.
BancorpSouth (NYSE:BXS) last posted its quarterly earnings data on Wednesday, July 19th. The bank reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm had revenue of $185.61 million during the quarter, compared to analyst estimates of $187.78 million. BancorpSouth had a net margin of 19.46% and a return on equity of 8.77%. During the same quarter last year, the business posted $0.39 EPS. On average, analysts expect that BancorpSouth, Inc. will post $1.66 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.56 annualized dividend and a dividend yield of 1.82%. This is a positive change from BancorpSouth’s previous quarterly dividend of $0.13. BancorpSouth’s dividend payout ratio (DPR) is presently 34.57%.
BXS has been the topic of a number of recent research reports. BidaskClub downgraded BancorpSouth from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Brean Capital reissued a “hold” rating on shares of BancorpSouth in a research report on Thursday, July 20th. ValuEngine raised BancorpSouth from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Zacks Investment Research raised BancorpSouth from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Friday, July 21st. Finally, Jefferies Group LLC reissued a “hold” rating and set a $33.00 price target on shares of BancorpSouth in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $32.67.
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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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