BancorpSouth Inc. (NYSE:BXS) – Jefferies Group lifted their Q4 2016 earnings estimates for BancorpSouth in a note issued to investors on Tuesday. Jefferies Group analyst E. Harmon now forecasts that the firm will post earnings per share of $0.44 for the quarter, up from their prior estimate of $0.40. Jefferies Group also issued estimates for BancorpSouth’s Q1 2017 earnings at $0.41 EPS, Q2 2017 earnings at $0.41 EPS, Q3 2017 earnings at $0.42 EPS and Q4 2017 earnings at $0.41 EPS.
BXS has been the subject of several other reports. JPMorgan Chase & Co. reduced their target price on BancorpSouth from $24.00 to $23.50 and set a “neutral” rating for the company in a research note on Thursday, July 7th. Zacks Investment Research downgraded BancorpSouth from a “hold” rating to a “sell” rating in a research note on Tuesday, September 6th. Keefe, Bruyette & Woods upgraded BancorpSouth from a “market perform” rating to an “outperform” rating and raised their target price for the company from $24.00 to $25.00 in a research note on Thursday, June 30th. FBR & Co restated a “buy” rating on shares of BancorpSouth in a research note on Saturday, July 9th. Finally, Raymond James Financial Inc. downgraded BancorpSouth from a “market perform” rating to an “underperform” rating in a research note on Thursday, October 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. BancorpSouth has an average rating of “Hold” and an average target price of $24.71.
Shares of BancorpSouth (NYSE:BXS) opened at 22.42 on Thursday. The firm has a market capitalization of $2.12 billion, a PE ratio of 18.86 and a beta of 1.20. The company’s 50 day moving average price is $23.81 and its 200-day moving average price is $23.11. BancorpSouth has a 52 week low of $18.69 and a 52 week high of $27.23.
BancorpSouth (NYSE:BXS) last released its earnings results on Wednesday, July 20th. The company reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. BancorpSouth had a return on equity of 8.36% and a net margin of 15.25%. During the same quarter in the prior year, the company earned $0.41 earnings per share.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, September 13th. This represents a $0.50 annualized dividend and a dividend yield of 2.23%. This is a boost from BancorpSouth’s previous quarterly dividend of $0.10. BancorpSouth’s dividend payout ratio (DPR) is currently 42.02%.
In other BancorpSouth news, insider James Ronald Hodges sold 4,543 shares of BancorpSouth stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $24.01, for a total transaction of $109,077.43. Following the transaction, the insider now owns 26,900 shares of the company’s stock, valued at approximately $645,869. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 3.93% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Silvercrest Asset Management Group LLC boosted its position in BancorpSouth by 27.4% in the second quarter. Silvercrest Asset Management Group LLC now owns 4,419,861 shares of the company’s stock valued at $100,286,000 after buying an additional 951,651 shares in the last quarter. Renaissance Technologies LLC boosted its stake in BancorpSouth by 86.6% in the first quarter. Renaissance Technologies LLC now owns 980,600 shares of the company’s stock worth $20,897,000 after buying an additional 455,087 shares during the period. Vanguard Group Inc. boosted its stake in BancorpSouth by 5.0% in the second quarter. Vanguard Group Inc. now owns 6,206,513 shares of the company’s stock worth $140,826,000 after buying an additional 295,789 shares during the period. Cortina Asset Management LLC bought a new stake in BancorpSouth during the second quarter worth approximately $6,099,000. Finally, Emerald Acquisition Ltd. bought a new stake in BancorpSouth during the second quarter worth approximately $4,869,000. 62.98% of the stock is currently owned by hedge funds and other 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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