Bancorpsouth Bank’s (BXS) Hold Rating Reiterated at Stephens
“We’re updating our forecast to match the Bank’s expectations of closing dates on April 1, 2019, which compares to our previous forecast of June 1, 2019. The net impact is $0.01 increase to our 2019 EPS forecast and no change to our 2020 EPS forecast. We maintain our Equal-Weight rating. KEY POINTS: A lot has Changed. We are pleased that BXS will only need 139 days to close these acquisitions since its announcement date. This compares to an average of 148 days for the similar M&A deals (where acquirer is +$10 billion in assets) in the bank industry over the last 24 months. The regulatory climate has clearly improved for BXS as its previous M&A announcements required 166 days (Icon Capital) and 1400+ days (Central to closing after multiple regulatory delays.”,” Stephens’ analyst commented.
Several other brokerages also recently weighed in on BXS. ValuEngine upgraded Bancorpsouth Bank from a sell rating to a hold rating in a report on Monday, February 4th. Brean Capital reiterated a hold rating on shares of Bancorpsouth Bank in a report on Friday, January 25th. Finally, Zacks Investment Research upgraded Bancorpsouth Bank from a hold rating to a buy rating and set a $34.00 price target for the company in a report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $33.50.
Bancorpsouth Bank (NYSE:BXS) last issued its quarterly earnings data on Wednesday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.03. Bancorpsouth Bank had a return on equity of 10.43% and a net margin of 23.66%. The firm had revenue of $211.91 million during the quarter, compared to the consensus estimate of $221.38 million. During the same period in the previous year, the firm posted $0.41 EPS. Analysts predict that Bancorpsouth Bank will post 2.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.68 annualized dividend and a yield of 2.48%. Bancorpsouth Bank’s dividend payout ratio (DPR) is presently 30.49%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Bancorpsouth Bank by 13.9% during the 4th quarter. Geode Capital Management LLC now owns 979,129 shares of the bank’s stock valued at $25,594,000 after buying an additional 119,301 shares during the period. Norges Bank purchased a new stake in shares of Bancorpsouth Bank during the 4th quarter valued at $25,028,000. Legal & General Group Plc grew its stake in shares of Bancorpsouth Bank by 11.2% during the 4th quarter. Legal & General Group Plc now owns 98,697 shares of the bank’s stock valued at $2,580,000 after buying an additional 9,911 shares during the period. Howard Financial Services LTD. purchased a new stake in shares of Bancorpsouth Bank during the 4th quarter valued at $1,156,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of Bancorpsouth Bank by 11.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 873,862 shares of the bank’s stock valued at $22,842,000 after buying an additional 87,851 shares during the period. Institutional investors own 72.00% 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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