Q4 2018 Earnings Estimate for Bancorpsouth Bank (BXS) Issued By Piper Jaffray Companies
Bancorpsouth Bank (NYSE:BXS) – Piper Jaffray Companies lowered their Q4 2018 EPS estimates for Bancorpsouth Bank in a note issued to investors on Sunday, November 18th. Piper Jaffray Companies analyst B. Rabatin now anticipates that the bank will post earnings per share of $0.54 for the quarter, down from their prior forecast of $0.56. Piper Jaffray Companies also issued estimates for Bancorpsouth Bank’s Q1 2019 earnings at $0.57 EPS, Q2 2019 earnings at $0.59 EPS, Q3 2019 earnings at $0.60 EPS, Q4 2019 earnings at $0.63 EPS, FY2019 earnings at $2.39 EPS, Q1 2020 earnings at $0.60 EPS, Q2 2020 earnings at $0.63 EPS, Q3 2020 earnings at $0.65 EPS and FY2020 earnings at $2.55 EPS.
BXS has been the subject of a number of other research reports. Stephens reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Bancorpsouth Bank in a report on Thursday, October 18th. Zacks Investment Research cut shares of Bancorpsouth Bank from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. ValuEngine cut shares of Bancorpsouth Bank from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Brean Capital reaffirmed a “hold” rating on shares of Bancorpsouth Bank in a report on Wednesday, November 14th. Finally, Royal Bank of Canada cut their price objective on shares of Bancorpsouth Bank to $32.00 and set a “market perform” rating for the company in a report on Friday, October 19th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $34.50.
Bancorpsouth Bank (NYSE:BXS) last released its quarterly earnings data on Wednesday, October 17th. The bank reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Bancorpsouth Bank had a net margin of 23.71% and a return on equity of 10.16%. The company had revenue of $213.75 million during the quarter, compared to analysts’ expectations of $216.90 million. During the same quarter in the previous year, the company earned $0.43 earnings per share.
Several hedge funds have recently added to or reduced their stakes in BXS. BlackRock Inc. increased its stake in shares of Bancorpsouth Bank by 9.8% during the second quarter. BlackRock Inc. now owns 10,322,893 shares of the bank’s stock worth $340,139,000 after purchasing an additional 920,056 shares in the last quarter. Federated Investors Inc. PA increased its stake in shares of Bancorpsouth Bank by 529.4% during the second quarter. Federated Investors Inc. PA now owns 561,159 shares of the bank’s stock worth $18,490,000 after purchasing an additional 472,001 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Bancorpsouth Bank by 10,965.8% during the third quarter. PNC Financial Services Group Inc. now owns 226,959 shares of the bank’s stock worth $7,423,000 after purchasing an additional 224,908 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Bancorpsouth Bank during the third quarter worth about $3,910,000. Finally, Chicago Equity Partners LLC purchased a new stake in shares of Bancorpsouth Bank during the second quarter worth about $3,886,000. 73.35% of the stock is owned by institutional investors and hedge funds.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Friday, December 14th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.29%. Bancorpsouth Bank’s dividend payout ratio is currently 40.72%.
Bancorpsouth Bank Company Profile
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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