“We’re updating our forecast to match the Bank’s expectations of closing dates on April 1, 2019, which compares to our previous forecast of June 1, 2019. The net impact is $0.01 increase to our 2019 EPS forecast and no change to our 2020 EPS forecast. We maintain our Equal-Weight rating. KEY POINTS: A lot has Changed. We are pleased that BXS will only need 139 days to close these acquisitions since its announcement date. This compares to an average of 148 days for the similar M&A deals (where acquirer is +$10 billion in assets) in the bank industry over the last 24 months. The regulatory climate has clearly improved for BXS as its previous M&A announcements required 166 days (Icon Capital) and 1400+ days (Central to closing after multiple regulatory delays.”,” the firm’s analyst wrote.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Bancorpsouth Bank from a hold rating to a buy rating and set a $34.00 target price on the stock in a research note on Tuesday, March 12th. ValuEngine upgraded shares of Bancorpsouth Bank from a sell rating to a hold rating in a research note on Monday, February 4th. Finally, Brean Capital restated a hold rating on shares of Bancorpsouth Bank in a research note on Friday, January 25th. One investment 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. The stock presently has a consensus rating of Hold and a consensus target price of $33.50.
NYSE:BXS opened at $27.42 on Thursday. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 12.30 and a beta of 1.47. Bancorpsouth Bank has a 1-year low of $24.31 and a 1-year high of $35.45.
Bancorpsouth Bank (NYSE:BXS) last issued its earnings results on Wednesday, January 23rd. The bank reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $211.91 million for the quarter, compared to analyst estimates of $221.38 million. Bancorpsouth Bank had a net margin of 23.66% and a return on equity of 10.43%. During the same quarter in the prior year, the business posted $0.41 EPS. As a group, equities research analysts predict that Bancorpsouth Bank will post 2.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 15th will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.68 annualized dividend and a yield of 2.48%. Bancorpsouth Bank’s dividend payout ratio (DPR) is 30.49%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake 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 acquiring an additional 119,301 shares during the period. Norges Bank acquired a new stake in Bancorpsouth Bank during the fourth quarter worth about $25,028,000. Legal & General Group Plc raised its stake in Bancorpsouth Bank by 11.2% during the fourth quarter. Legal & General Group Plc now owns 98,697 shares of the bank’s stock worth $2,580,000 after acquiring an additional 9,911 shares during the period. Howard Financial Services LTD. acquired a new stake in Bancorpsouth Bank during the fourth quarter worth about $1,156,000. Finally, Thrivent Financial for Lutherans raised its stake in Bancorpsouth Bank by 11.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 873,862 shares of the bank’s stock worth $22,842,000 after acquiring an additional 87,851 shares during the period. Hedge funds and other institutional investors own 72.00% 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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