Zacks Investment Research lowered shares of Bancorpsouth Bank (NYSE:BXS) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “Shares of BancorpSouth underperformed the industry over the past six months. However, the company boasts an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Given a strong balance-sheet position, the company has been steadily enhancing shareholders’ value through strategic acquisitions, dividend hikes, share buybacks and excellent expense-management initiatives. Recently, the company announced plans to acquire Icon Capital Corporation. Despite rise in interest rates, the company’s volatile net interest margin continues to be a concern owing to its liability sensitive balance sheet. Also, huge exposure in consumer mortgage and commercial real estate loans can adversely affect the company’s financials in the form of higher provisions.”
BXS has been the topic of several other reports. ValuEngine downgraded Bancorpsouth Bank from a buy rating to a hold rating in a research note on Monday, April 2nd. Brean Capital restated a hold rating on shares of Bancorpsouth Bank in a research note on Thursday, May 3rd. Royal Bank of Canada restated a hold rating and set a $37.00 target price on shares of Bancorpsouth Bank in a research note on Friday, April 20th. Piper Jaffray Companies set a $36.00 target price on Bancorpsouth Bank and gave the stock a hold rating in a research note on Monday, April 23rd. Finally, Hovde Group set a $35.00 price target on Bancorpsouth Bank and gave the stock a hold rating in a research report on Monday, April 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $35.13.
Shares of Bancorpsouth Bank opened at $32.95 on Wednesday, Marketbeat reports. Bancorpsouth Bank has a 1-year low of $27.20 and a 1-year high of $35.55. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.02. The firm has a market cap of $3.04 billion, a P/E ratio of 19.73 and a beta of 1.41.
Bancorpsouth Bank (NYSE:BXS) last announced its earnings results on Wednesday, April 18th. The bank reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.02. Bancorpsouth Bank had a return on equity of 9.49% and a net margin of 20.58%. The firm had revenue of $217.01 million for the quarter, compared to the consensus estimate of $210.65 million. During the same period in the previous year, the business earned $0.39 EPS. equities research analysts forecast that Bancorpsouth Bank will post 2.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Friday, June 15th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.56 dividend on an annualized basis and a yield of 1.70%. Bancorpsouth Bank’s dividend payout ratio is currently 33.53%.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its position in Bancorpsouth Bank by 3.1% during the 4th quarter. BlackRock Inc. now owns 9,251,355 shares of the bank’s stock worth $290,955,000 after acquiring an additional 277,464 shares during the period. Paloma Partners Management Co lifted its position in Bancorpsouth Bank by 9.1% during the 4th quarter. Paloma Partners Management Co now owns 25,511 shares of the bank’s stock worth $802,000 after acquiring an additional 2,128 shares during the period. Sciencast Management LP acquired a new stake in Bancorpsouth Bank during the 4th quarter worth about $210,000. Two Sigma Securities LLC acquired a new stake in Bancorpsouth Bank during the 4th quarter worth about $763,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Bancorpsouth Bank during the 4th quarter worth about $2,878,000. 70.68% of the stock is owned by institutional investors.
Bancorpsouth Bank Company Profile
BancorpSouth Bank operates as a financial holding company for BancorpSouth Bank that 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.
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