King Luther Capital Management Corp lessened its position in shares of Bancorpsouth Bank (NYSE:BXS) by 1.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 466,346 shares of the bank’s stock after selling 5,181 shares during the period. King Luther Capital Management Corp owned 0.52% of Bancorpsouth Bank worth $15,250,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trexquant Investment LP bought a new position in Bancorpsouth Bank during the second quarter worth $252,000. Strs Ohio raised its stake in Bancorpsouth Bank by 56.9% during the second quarter. Strs Ohio now owns 9,100 shares of the bank’s stock worth $299,000 after buying an additional 3,300 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Bancorpsouth Bank by 323.3% during the third quarter. Tower Research Capital LLC TRC now owns 10,854 shares of the bank’s stock worth $355,000 after buying an additional 8,290 shares during the last quarter. Sowell Financial Services LLC bought a new stake in Bancorpsouth Bank in the third quarter valued at $367,000. Finally, GSA Capital Partners LLP increased its stake in Bancorpsouth Bank by 61.4% in the third quarter. GSA Capital Partners LLP now owns 12,017 shares of the bank’s stock valued at $393,000 after purchasing an additional 4,572 shares in the last quarter. 74.00% of the stock is owned by institutional investors and hedge funds.
BXS opened at $29.35 on Friday. Bancorpsouth Bank has a 1-year low of $26.91 and a 1-year high of $35.55. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 17.57 and a beta of 1.41.
Bancorpsouth Bank (NYSE:BXS) last posted its quarterly earnings results on Wednesday, October 17th. The bank reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. Bancorpsouth Bank had a net margin of 23.71% and a return on equity of 10.16%. The firm had revenue of $213.75 million during the quarter, compared to the consensus estimate of $216.90 million. During the same period in the previous year, the firm posted $0.43 earnings per share. On average, equities analysts predict that Bancorpsouth Bank will post 2.25 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Thursday, December 13th. Bancorpsouth Bank’s dividend payout ratio (DPR) is currently 40.72%.
Several equities research analysts have weighed in on the stock. Stephens set a $35.00 price target on shares of Bancorpsouth Bank and gave the company a “buy” rating in a research note on Thursday. Brean Capital reaffirmed a “hold” rating on shares of Bancorpsouth Bank in a research note on Monday, August 27th. Zacks Investment Research raised shares of Bancorpsouth Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, October 23rd. SunTrust Banks decreased their price target on shares of Bancorpsouth Bank to $31.00 and set a “hold” rating for the company in a research note on Monday, October 22nd. Finally, ValuEngine raised shares of Bancorpsouth Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Bancorpsouth Bank has a consensus rating of “Hold” and an average target price of $34.50.
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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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