BancorpSouth, Inc. (BXS) Stock Rating Reaffirmed by Piper Jaffray Companies
BancorpSouth, Inc. (NYSE:BXS)‘s stock had its “hold” rating reiterated by investment analysts at Piper Jaffray Companies in a report released on Friday. They currently have a $31.00 target price on the bank’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 2.14% from the company’s previous close.
BXS has been the topic of several other reports. Zacks Investment Research upgraded BancorpSouth from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Tuesday, April 4th. BidaskClub upgraded BancorpSouth from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Jefferies Group LLC reiterated a “hold” rating and set a $33.00 price target on shares of BancorpSouth in a research report on Friday, May 5th. ValuEngine upgraded BancorpSouth from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $32.00 price target on shares of BancorpSouth in a research report on Monday, June 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $29.83.
BancorpSouth (BXS) traded down 1.46% during mid-day trading on Friday, reaching $30.35. The company’s stock had a trading volume of 421,116 shares. The firm has a market capitalization of $2.77 billion, a P/E ratio of 19.25 and a beta of 1.40. The firm’s 50 day moving average price is $30.21 and its 200 day moving average price is $30.35. BancorpSouth has a 52 week low of $22.23 and a 52 week high of $32.40.
BancorpSouth (NYSE:BXS) last posted its earnings results on Wednesday, July 19th. The bank reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. BancorpSouth had a return on equity of 8.74% and a net margin of 19.46%. The firm had revenue of $185.61 million for the quarter, compared to analysts’ expectations of $187.78 million. During the same period last year, the firm earned $0.39 EPS. On average, analysts anticipate that BancorpSouth will post $1.64 EPS for the current fiscal year.
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In related news, Director James Elbert Campbell III acquired 7,000 shares of BancorpSouth stock in a transaction dated Thursday, May 18th. The stock was acquired at an average cost of $28.93 per share, with a total value of $202,510.00. Following the purchase, the director now directly owns 133,392 shares in the company, valued at approximately $3,859,030.56. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.63% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in BancorpSouth by 17,271.2% in the first quarter. BlackRock Inc. now owns 9,111,731 shares of the bank’s stock valued at $275,630,000 after buying an additional 9,059,278 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in BancorpSouth by 27.4% in the second quarter. Silvercrest Asset Management Group LLC now owns 4,419,861 shares of the bank’s stock valued at $100,286,000 after buying an additional 951,651 shares in the last quarter. Citadel Advisors LLC bought a new stake in BancorpSouth during the first quarter valued at $28,685,000. Norges Bank bought a new stake in BancorpSouth during the fourth quarter valued at $18,035,000. Finally, JPMorgan Chase & Co. raised its stake in BancorpSouth by 57.6% in the first quarter. JPMorgan Chase & Co. now owns 1,896,088 shares of the bank’s stock valued at $57,356,000 after buying an additional 692,989 shares in the last quarter. 67.57% of the stock is owned by institutional investors and hedge funds.
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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