Zacks Reiterates “Neutral” Rating for BancorpSouth (BXS)
BancorpSouth (NYSE:BXS)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Tuesday. They currently have a $26.00 price target on the stock. Zacks‘s price objective suggests a potential upside of 5.82% from the company’s current price.
Zacks’ analyst wrote, “BancorpSouth’s first-quarter 2014 earnings came in line with the Zacks Consensus Estimate. However, it compared favorably with the prior-year quarter earnings, backed by higher net interest income and reduced expenses. Moreover, no provision for credit losses was recorded in the quarter. The recent acquisition deal with Knox Insurance Group also enhances its inorganic growth strategy. We believe the company’s disciplined expense management, continued improvement in asset quality and opportunistic acquisitions pave the way for long-term growth. Nevertheless, we remain concerned about the prevalent low interest rate environment and its adverse impact on the net interest margin (NIM). Moreover, absence of credible improvement in the mortgage market also remains a concern.”
Several other analysts have also recently commented on the stock. Analysts at Drexel Hamilton initiated coverage on shares of BancorpSouth in a research note on Thursday, May 8th. They set a “hold” rating on the stock. Separately, analysts at SunTrust reiterated a “neutral” rating on shares of BancorpSouth in a research note on Wednesday, April 23rd. They now have a $26.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “underweight” rating on shares of BancorpSouth in a research note on Wednesday, April 23rd. They now have a $23.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $24.44.
Shares of BancorpSouth (NYSE:BXS) traded up 2.20% on Tuesday, hitting $25.11. The stock had a trading volume of 386,831 shares. BancorpSouth has a 52 week low of $17.76 and a 52 week high of $26.24. The stock’s 50-day moving average is $23.81 and its 200-day moving average is $24.13. The company has a market cap of $2.411 billion and a price-to-earnings ratio of 23.01.
BancorpSouth (NYSE:BXS) last announced its earnings results on Monday, April 21st. The company reported $0.30 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.30. During the same quarter last year, the company posted $0.22 earnings per share. Analysts expect that BancorpSouth will post $1.33 EPS for the current fiscal year.
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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