BancorpSouth, Inc. (BXS) Earns Hold Rating from Brean Capital
BancorpSouth, Inc. (NYSE:BXS)‘s stock had its “hold” rating reissued by Brean Capital in a note issued to investors on Thursday.
The analysts wrote, “BXS reported operating EPS of $0.41 vs. Brean/consensus at $0.39/$0.40 and included a $0.01 hit from a negative MSR valuation adjustment. Excluding that amount, EPS was $0.42 vs. $0.39 in the year-ago period and in Q1. Despite a better-than-expected NIM and loan growth, spread revenues were in-line with our estimates with fee income following suit. The beat came from prudent expense management and lower credit costs. Overall, a pretty solid quarter and a nice bounce back from Q1 highlighted by 6 bps of NIM expansion, improving credit trends, flat LQ operating expenses and 8% annualized loan growth. The decline in deposits is reportedly seasonal in nature and does not cause us concern at this point given core deposits (non- CDs) of 85%. We would expect a favorable view by the street with an eye toward more clarity on loan pipelines, NIM trends and the ongoing regulatory overhang. Currently, BXS trades 15.8x 2018 EPS and 2.0x TBV vs. peers at 15.2x/2.1x.””
Several other research firms also recently issued reports on BXS. Jefferies Group LLC restated a “hold” rating and set a $33.00 price objective on shares of BancorpSouth in a report on Friday, May 5th. BidaskClub upgraded BancorpSouth from a “sell” rating to a “hold” rating in a report on Friday, June 16th. ValuEngine upgraded BancorpSouth from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Keefe, Bruyette & Woods restated a “hold” rating and set a $32.00 price objective on shares of BancorpSouth in a report on Wednesday, April 5th. Finally, Zacks Investment Research upgraded BancorpSouth from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Tuesday, April 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $29.50.
Shares of BancorpSouth (BXS) traded down 0.248% during midday trading on Thursday, hitting $30.175. 141,008 shares of the stock were exchanged. The stock has a market cap of $2.76 billion, a P/E ratio of 19.134 and a beta of 1.40. The stock’s 50-day moving average price is $30.15 and its 200 day moving average price is $30.35. BancorpSouth has a one year low of $22.23 and a one year high of $32.40.
BancorpSouth (NYSE:BXS) last posted its quarterly earnings data on Wednesday, July 19th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm had revenue of $185.61 million for the quarter, compared to the consensus estimate of $187.78 million. BancorpSouth had a return on equity of 8.65% and a net margin of 19.19%. During the same quarter in the previous year, the company earned $0.39 EPS. On average, analysts anticipate that BancorpSouth will post $1.64 earnings per share for the current year.
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In other BancorpSouth news, Director James Elbert Campbell III bought 7,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were bought at an average price of $28.93 per share, for a total transaction of $202,510.00. Following the acquisition, the director now directly owns 133,392 shares of the company’s stock, valued at $3,859,030.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.63% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of BXS. BlackRock Inc. increased its position in BancorpSouth by 17,271.2% in the first quarter. BlackRock Inc. now owns 9,111,731 shares of the bank’s stock worth $275,630,000 after buying an additional 9,059,278 shares in the last quarter. Vanguard Group Inc. increased its position in BancorpSouth by 5.0% in the first quarter. Vanguard Group Inc. now owns 6,965,034 shares of the bank’s stock worth $210,692,000 after buying an additional 331,845 shares in the last quarter. State Street Corp increased its position in BancorpSouth by 3.5% in the first quarter. State Street Corp now owns 4,575,811 shares of the bank’s stock worth $138,422,000 after buying an additional 155,635 shares in the last quarter. Dimensional Fund Advisors LP increased its position in BancorpSouth by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,141,704 shares of the bank’s stock worth $125,288,000 after buying an additional 101,542 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in BancorpSouth by 57.6% in the first quarter. JPMorgan Chase & Co. now owns 1,896,088 shares of the bank’s stock worth $57,356,000 after buying an additional 692,989 shares in the last quarter. Institutional investors own 67.57% of the company’s stock.
BancorpSouth Company Profile
BancorpSouth, Inc is a financial holding company. The Company, through its principal bank subsidiary, BancorpSouth Bank (the Bank), conducts commercial banking and financial services operations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee, Texas and Illinois. The Company’s segments include Community Banking, Insurance Agencies, and General Corporate and Other.
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