BancorpSouth Upgraded to Buy by Wunderlich (BXS)
BancorpSouth (NYSE:BXS) was upgraded by investment analysts at Wunderlich from a “hold” rating to a “buy” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $30.00 target price on the stock, up from their previous target price of $26.00. Wunderlich’s price objective would indicate a potential upside of 20.92% from the stock’s previous close.
The analysts wrote, “Additionally, BXS announced its 2nd accretive acquisition in the past two weeks, which combined will add roughly $2 billion in assets and be meaningfully accretive to EPS after completion in 2Q14. In our opinion, things are all falling into place for BancorpSouth, with both loan growth and the NIM strengthening, improving asset quality, and expected declines in the efficiency ratio, now complemented by accretive M&A, the latter of which is just beginning, but is likely to continue for years to come,”
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley downgraded shares of BancorpSouth from an “equal weight” rating to an “underweight” rating in a research note to investors on Monday, January 6th. They noted that the move was a valuation call. Separately, analysts at Zacks reiterated a “neutral” rating on shares of BancorpSouth in a research note to investors on Thursday, January 2nd. They now have a $27.00 price target on the stock. Finally, analysts at Evercore Partners initiated coverage on shares of BancorpSouth in a research note to investors on Tuesday, November 5th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $22.11.
Shares of BancorpSouth (NYSE:BXS) traded down 0.20% on Friday, hitting $24.81. The stock had a trading volume of 1,195,879 shares. BancorpSouth has a one year low of $14.17 and a one year high of $25.54. The stock has a 50-day moving average of $24.64 and a 200-day moving average of $21.65. The company has a market cap of $2.362 billion and a price-to-earnings ratio of 28.28.
BancorpSouth (NYSE:BXS) last announced its earnings results on Thursday, January 23rd. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.28 by $0.01. During the same quarter last year, the company posted $0.18 earnings per share. On average, analysts predict that BancorpSouth will post $1.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of 0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Wednesday, March 12th.
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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