Silvercrest Asset Management Group LLC trimmed its stake in shares of Bancorpsouth Bank (NYSE:BXS) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,105,716 shares of the bank’s stock after selling 28,925 shares during the quarter. Bancorpsouth Bank comprises approximately 1.4% of Silvercrest Asset Management Group LLC’s investment portfolio, making the stock its 5th biggest position. Silvercrest Asset Management Group LLC owned about 5.15% of Bancorpsouth Bank worth $148,270,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in BXS. Geode Capital Management LLC boosted its position in Bancorpsouth Bank by 13.9% during the fourth quarter. Geode Capital Management LLC now owns 979,129 shares of the bank’s stock worth $25,594,000 after purchasing an additional 119,301 shares during the period. Rhumbline Advisers boosted its position in shares of Bancorpsouth Bank by 3.9% in the first quarter. Rhumbline Advisers now owns 311,320 shares of the bank’s stock valued at $8,785,000 after acquiring an additional 11,773 shares during the period. Texas Permanent School Fund boosted its position in shares of Bancorpsouth Bank by 3.8% in the first quarter. Texas Permanent School Fund now owns 61,587 shares of the bank’s stock valued at $1,738,000 after acquiring an additional 2,231 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Bancorpsouth Bank by 424.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 125,792 shares of the bank’s stock valued at $3,550,000 after acquiring an additional 101,824 shares during the period. Finally, Mason Street Advisors LLC boosted its position in shares of Bancorpsouth Bank by 1.5% in the first quarter. Mason Street Advisors LLC now owns 48,234 shares of the bank’s stock valued at $1,361,000 after acquiring an additional 723 shares during the period. 63.24% of the stock is owned by hedge funds and other institutional investors.
Shares of Bancorpsouth Bank stock traded down $0.37 during trading on Tuesday, reaching $29.53. The company’s stock had a trading volume of 6,521 shares, compared to its average volume of 372,383. The business’s 50-day moving average price is $28.02 and its 200-day moving average price is $28.88. The firm has a market cap of $3.01 billion, a PE ratio of 13.26 and a beta of 1.45. Bancorpsouth Bank has a 52 week low of $24.31 and a 52 week high of $34.80.
Bancorpsouth Bank (NYSE:BXS) last announced its earnings results on Wednesday, July 17th. The bank reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. The company had revenue of $226.35 million during the quarter, compared to analysts’ expectations of $234.95 million. Bancorpsouth Bank had a net margin of 22.39% and a return on equity of 10.30%. During the same quarter in the previous year, the business posted $0.55 earnings per share. On average, equities analysts forecast that Bancorpsouth Bank will post 2.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Thursday, September 12th. This is a boost from Bancorpsouth Bank’s previous quarterly dividend of $0.17. Bancorpsouth Bank’s payout ratio is presently 33.18%.
A number of equities research analysts have recently issued reports on BXS shares. DA Davidson started coverage on shares of Bancorpsouth Bank in a research report on Tuesday, August 20th. They issued a “neutral” rating and a $30.50 target price for the company. Royal Bank of Canada set a $31.00 target price on shares of Bancorpsouth Bank and gave the company a “hold” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Bancorpsouth Bank has an average rating of “Hold” and a consensus target price of $31.90.
Bancorpsouth Bank 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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