Stephens reiterated their hold rating on shares of Bancorpsouth Bank (NYSE:BXS) in a research note published on Thursday morning, AnalystRatings.com reports. The brokerage currently has a $33.00 price objective on the bank’s stock.
“We maintain our Equal-Weight rating. KEY POINTS: Positive Takeaways. Core NIM (ex. PAA) expanded 3 bps to 3.74%, above our forecast of 3.71% as +13 bps core loan yield expansion outpaced +11 bps in IB deposit cost increase. Deposits increased 18% LQA which is partially driven by seasonality. The NII beat ($152.6 million vs. our forecast of $151.2 million) was also partially driven by ~$0.5 million LQ increase in purchase accounting. BXS repurchased 1 million shares of common stock (above our forecast of 500k) at a weighted average price of $27.60 per share. Negative Takeaways. Loan was soft growth (-1% LQA below our forecast of +6%) as paydowns in C&I offset growth in CRE. Operating expenses were elevated ($149 million vs. street at $148 million).”,” Stephens’ analyst wrote.
Several other equities analysts have also recently issued reports on BXS. ValuEngine cut shares of Bancorpsouth Bank from a hold rating to a sell rating in a research note on Thursday, January 10th. Zacks Investment Research upgraded shares of Bancorpsouth Bank from a hold rating to a buy rating and set a $31.00 target price for the company in a research note on Tuesday, January 15th. Finally, Brean Capital reiterated a hold rating on shares of Bancorpsouth Bank in a research note on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Bancorpsouth Bank presently has a consensus rating of Hold and an average price target of $33.50.
BXS stock opened at $29.83 on Thursday. The firm has a market capitalization of $2.69 billion, a PE ratio of 13.38 and a beta of 1.44. Bancorpsouth Bank has a 12 month low of $24.31 and a 12 month high of $35.45.
Bancorpsouth Bank (NYSE:BXS) last posted its earnings results on Wednesday, April 17th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.02. Bancorpsouth Bank had a net margin of 23.10% and a return on equity of 10.34%. The firm had revenue of $216.77 million during the quarter, compared to analysts’ expectations of $221.20 million. During the same period in the previous year, the business posted $0.54 EPS. As a group, sell-side analysts predict that Bancorpsouth Bank will post 2.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Thursday, March 14th. Bancorpsouth Bank’s dividend payout ratio is currently 30.49%.
Several institutional investors and hedge funds have recently bought and sold shares of BXS. Bank of New York Mellon Corp raised its position in Bancorpsouth Bank by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 1,230,121 shares of the bank’s stock worth $40,224,000 after acquiring an additional 43,758 shares during the period. Credit Suisse AG raised its position in Bancorpsouth Bank by 23.4% during the third quarter. Credit Suisse AG now owns 85,776 shares of the bank’s stock worth $2,804,000 after acquiring an additional 16,264 shares during the period. GSA Capital Partners LLP raised its position in Bancorpsouth Bank by 61.4% during the third quarter. GSA Capital Partners LLP now owns 12,017 shares of the bank’s stock worth $393,000 after acquiring an additional 4,572 shares during the period. LPL Financial LLC raised its position in Bancorpsouth Bank by 43.9% during the third quarter. LPL Financial LLC now owns 28,406 shares of the bank’s stock worth $929,000 after acquiring an additional 8,668 shares during the period. Finally, Jane Street Group LLC acquired a new position in Bancorpsouth Bank during the third quarter worth $614,000. Hedge funds and other institutional investors own 72.84% of the company’s stock.
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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