Piper Sandler Comments on Bancorpsouth Bank’s Q2 2020 Earnings (NYSE:BXS)
Bancorpsouth Bank (NYSE:BXS) – Research analysts at Piper Sandler issued their Q2 2020 earnings per share estimates for Bancorpsouth Bank in a report released on Wednesday, July 8th. Piper Sandler analyst B. Milsaps anticipates that the bank will earn $0.32 per share for the quarter. Piper Sandler has a “Neutral” rating and a $23.00 price objective on the stock. Piper Sandler also issued estimates for Bancorpsouth Bank’s Q3 2020 earnings at $0.41 EPS, Q4 2020 earnings at $0.47 EPS, FY2020 earnings at $1.52 EPS, Q1 2021 earnings at $0.40 EPS, Q2 2021 earnings at $0.39 EPS, Q3 2021 earnings at $0.42 EPS, Q4 2021 earnings at $0.44 EPS and FY2021 earnings at $1.65 EPS.
BXS has been the topic of several other reports. Janney Montgomery Scott downgraded Bancorpsouth Bank from a “buy” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research note on Monday, June 8th. They noted that the move was a valuation call. ValuEngine raised Bancorpsouth Bank from a “sell” rating to a “hold” rating in a report on Thursday, June 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $22.00 target price on shares of Bancorpsouth Bank in a report on Monday, April 13th. SunTrust Banks raised their price target on shares of Bancorpsouth Bank from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Wedbush cut shares of Bancorpsouth Bank from an “outperform” rating to a “neutral” rating in a research note on Monday, June 8th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $28.00.
Bancorpsouth Bank (NYSE:BXS) last released its quarterly earnings results on Monday, April 20th. The bank reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.12). The company had revenue of $244.03 million during the quarter, compared to the consensus estimate of $243.90 million. Bancorpsouth Bank had a return on equity of 9.47% and a net margin of 19.00%. During the same period in the previous year, the firm posted $0.56 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 3.48%. The ex-dividend date of this dividend was Friday, June 12th. Bancorpsouth Bank’s payout ratio is presently 29.48%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace North America L.P. purchased a new stake in shares of Bancorpsouth Bank during the fourth quarter worth $62,000. Americana Partners LLC purchased a new stake in shares of Bancorpsouth Bank during the fourth quarter worth $91,000. Advisor Group Holdings Inc. purchased a new stake in shares of Bancorpsouth Bank during the first quarter worth $66,000. Trustcore Financial Services LLC grew its holdings in shares of Bancorpsouth Bank by 315.3% during the first quarter. Trustcore Financial Services LLC now owns 5,934 shares of the bank’s stock worth $112,000 after buying an additional 4,505 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of Bancorpsouth Bank during the fourth quarter worth $200,000. 62.10% of the stock is owned by institutional investors.
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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