BancorpSouth, Inc. (NYSE:BXS) Shares Sold by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan lowered its position in shares of BancorpSouth, Inc. (NYSE:BXS) by 18.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,210 shares of the bank’s stock after selling 7,120 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in BancorpSouth were worth $982,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. 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 worth $275,630,000 after buying an additional 9,059,278 shares during the period. Citadel Advisors LLC bought a new position in shares of BancorpSouth during the first quarter worth $28,685,000. JPMorgan Chase & Co. increased its position in shares of BancorpSouth by 57.6% in the first quarter. JPMorgan Chase & Co. now owns 1,896,088 shares of the bank’s stock worth $57,356,000 after buying an additional 692,989 shares during the period. Vanguard Group Inc. increased its position in shares of BancorpSouth by 5.0% in the first quarter. Vanguard Group Inc. now owns 6,965,034 shares of the bank’s stock worth $210,692,000 after buying an additional 331,845 shares during the period. Finally, State Street Corp increased its position in shares of BancorpSouth by 3.5% in the first quarter. State Street Corp now owns 4,575,811 shares of the bank’s stock worth $138,422,000 after buying an additional 155,635 shares during the period. Institutional investors own 66.96% of the company’s stock.
BancorpSouth, Inc. (NYSE BXS) opened at 28.55 on Friday. The company has a market capitalization of $2.60 billion, a P/E ratio of 17.58 and a beta of 1.39. The firm has a 50-day moving average of $30.24 and a 200 day moving average of $30.27. BancorpSouth, Inc. has a 52-week low of $22.23 and a 52-week high of $32.40.
BancorpSouth (NYSE:BXS) last released its quarterly earnings data on Wednesday, July 19th. The bank reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. The business had revenue of $185.61 million for the quarter, compared to the consensus estimate of $187.78 million. BancorpSouth had a net margin of 19.46% and a return on equity of 8.77%. During the same period in the prior year, the firm earned $0.39 EPS. Equities analysts predict that BancorpSouth, Inc. will post $1.66 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a $0.14 dividend. This is an increase from BancorpSouth’s previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, September 14th. BancorpSouth’s dividend payout ratio is 30.86%.
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A number of research analysts recently weighed in on BXS shares. BidaskClub downgraded shares of BancorpSouth from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. ValuEngine upgraded shares of BancorpSouth from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Stephens restated a “buy” rating on shares of BancorpSouth in a research report on Wednesday, April 19th. Jefferies Group LLC restated a “hold” rating and set a $33.00 price objective on shares of BancorpSouth in a research report on Friday, May 5th. Finally, Brean Capital restated a “hold” rating on shares of BancorpSouth in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $31.67.
In other BancorpSouth news, Director James Elbert Campbell III acquired 7,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were acquired at an average cost of $28.93 per share, with a total value of $202,510.00. Following the acquisition, the director now directly owns 133,392 shares of the company’s stock, valued at $3,859,030.56. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.63% of the stock is owned by corporate insiders.
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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