Brean Capital Reaffirms Hold Rating for BancorpSouth, Inc. (BXS)
A number of other brokerages have also recently issued reports on BXS. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $32.00 price target on shares of BancorpSouth in a report on Thursday, October 12th. Piper Jaffray Companies reiterated a hold rating and set a $31.00 price objective on shares of BancorpSouth in a research report on Friday, July 21st. Zacks Investment Research upgraded BancorpSouth from a hold rating to a buy rating and set a $34.00 price objective on the stock in a research report on Tuesday, September 19th. Royal Bank Of Canada reiterated a hold rating and set a $33.00 price objective on shares of BancorpSouth in a research report on Friday, October 20th. Finally, BidaskClub lowered BancorpSouth from a hold rating to a sell rating in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $33.00.
BancorpSouth (NYSE:BXS) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. BancorpSouth had a return on equity of 8.98% and a net margin of 19.59%. The firm had revenue of $186.52 million for the quarter, compared to analysts’ expectations of $191.32 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up .5% compared to the same quarter last year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, December 14th. BancorpSouth’s payout ratio is presently 33.94%.
BancorpSouth declared that its Board of Directors has initiated a share buyback plan on Tuesday, October 31st that authorizes the company to buyback 6,000,000 shares. This buyback authorization authorizes the bank to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Teacher Retirement System of Texas grew its holdings in BancorpSouth by 0.8% during the second quarter. Teacher Retirement System of Texas now owns 6,776 shares of the bank’s stock valued at $207,000 after purchasing an additional 54 shares during the period. Louisiana State Employees Retirement System grew its holdings in BancorpSouth by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 21,700 shares of the bank’s stock valued at $662,000 after purchasing an additional 200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in BancorpSouth by 9.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,841 shares of the bank’s stock valued at $117,000 after purchasing an additional 316 shares during the period. Aperio Group LLC grew its holdings in BancorpSouth by 4.5% during the second quarter. Aperio Group LLC now owns 17,528 shares of the bank’s stock valued at $535,000 after purchasing an additional 753 shares during the period. Finally, Pacad Investment Ltd. grew its holdings in BancorpSouth by 12.0% during the second quarter. Pacad Investment Ltd. now owns 8,400 shares of the bank’s stock valued at $256,000 after purchasing an additional 900 shares during the period. 65.85% of the stock is owned by institutional investors.
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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