BancorpSouth Receives “Neutral” Rating from Zacks (BXS)
BancorpSouth (NYSE:BXS)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Wednesday, AR Network reports. They currently have a $21.00 target price on the stock. Zacks‘ price objective suggests a potential upside of 6.44% from the stock’s previous close.
Zacks‘ analyst wrote, “We are initiating coverage on BancorpSouth with a Neutral rating. The company’s second-quarter 2013 earnings marginally beat the Zacks Consensus Estimate, primarily aided by a rise in non-interest revenues. Moreover, loan loss provision levels stabilized in the quarter with a number of credit quality metrics exhibiting favorable trends. However, persistent pressure on net interest margin (NIM) and higher expenses were the headwinds. We believe that the company’s robust mortgage lending business performance, along with opportunistic acquisitions, would help it navigate through the current sluggish macroeconomic cycle. However, we remain concerned over the prevalent low interest rate environment and its adverse impact on NIM.”
Shares of BancorpSouth (NYSE:BXS) traded up 0.61% on Wednesday, hitting $19.85. 169,709 shares of the company’s stock traded hands. BancorpSouth has a 1-year low of $12.55 and a 1-year high of $20.77. The stock has a 50-day moving average of $19.88 and a 200-day moving average of $18.09. The company has a market cap of $1.890 billion and a price-to-earnings ratio of 22.68.
BancorpSouth (NYSE:BXS) last announced its earnings results on Monday, July 22nd. The company reported $0.22 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.22. During the same quarter in the prior year, the company posted $0.22 earnings per share. Analysts expect that BancorpSouth will post $0.99 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on BXS. Analysts at MLV Capital initiated coverage on shares of BancorpSouth in a research note to investors on Friday, September 20th. They set a “hold” rating on the stock. Separately, analysts at RBC Capital initiated coverage on shares of BancorpSouth in a research note to investors on Friday, August 23rd. They set an “outperform” rating and a $23.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of BancorpSouth from $16.00 to $19.00 in a research note to investors on Tuesday, August 6th. They now have a “hold” rating on the stock. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $19.50.
BancorpSouth, Inc is a financial holding company. Through its principal bank subsidiary, BancorpSouth Bank (NYSE:BXS), the Company conducts commercial banking and financial services operations in Mississippi, Tennessee, Alabama, Arkansas, Texas, Louisiana, Florida, Missouri and Illinois.
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