Comerica Bank decreased its holdings in shares of Bancorpsouth Bank (NYSE:BXS) by 7.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 142,100 shares of the bank’s stock after selling 10,725 shares during the period. Comerica Bank owned about 0.14% of Bancorpsouth Bank worth $4,290,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. bought a new stake in Bancorpsouth Bank during the second quarter valued at $132,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Bancorpsouth Bank by 15.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,937 shares of the bank’s stock valued at $172,000 after purchasing an additional 793 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Bancorpsouth Bank by 74.3% during the second quarter. Meeder Asset Management Inc. now owns 6,239 shares of the bank’s stock valued at $181,000 after purchasing an additional 2,659 shares during the last quarter. Strs Ohio increased its stake in Bancorpsouth Bank by 8.7% during the third quarter. Strs Ohio now owns 7,500 shares of the bank’s stock valued at $222,000 after purchasing an additional 600 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in Bancorpsouth Bank during the second quarter valued at $224,000. Hedge funds and other institutional investors own 63.28% of the company’s stock.
BXS has been the subject of several recent research reports. Royal Bank of Canada set a $31.00 target price on shares of Bancorpsouth Bank and gave the company a “hold” rating in a research note on Friday, July 19th. ValuEngine lowered shares of Bancorpsouth Bank from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. SunTrust Banks upgraded shares of Bancorpsouth Bank from a “hold” rating to a “buy” rating and boosted their target price for the company from $32.00 to $33.00 in a research note on Wednesday, September 25th. DA Davidson began coverage on shares of Bancorpsouth Bank in a research note on Tuesday, August 20th. They set a “neutral” rating and a $30.50 target price for the company. Finally, Piper Jaffray Companies began coverage on shares of Bancorpsouth Bank in a report on Wednesday, September 18th. They set a “neutral” rating and a $32.50 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $32.33.
Shares of BXS opened at $31.53 on Friday. Bancorpsouth Bank has a 1 year low of $24.31 and a 1 year high of $33.45. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 14.14 and a beta of 1.43. The firm has a fifty day moving average of $29.92 and a 200-day moving average of $28.93.
Bancorpsouth Bank (NYSE:BXS) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.02. Bancorpsouth Bank had a net margin of 21.23% and a return on equity of 10.51%. The company had revenue of $242.03 million during the quarter, compared to the consensus estimate of $238.70 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. On average, equities analysts expect that Bancorpsouth Bank will post 2.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Friday, December 13th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, December 12th. Bancorpsouth Bank’s dividend payout ratio (DPR) is 33.18%.
Bancorpsouth Bank Company Profile
BancorpSouth Bank provides commercial banking and financial services to individuals and small-to-medium size businesses. It offers various deposit products, including interest and noninterest bearing demand deposits, and saving and other time deposits. The company also provides commercial loans, including term loans, lines of credit, equipment and receivable financing, and agricultural loans; a range of short-to-medium term secured and unsecured commercial loans to businesses for working capital, business expansion, and the purchase of equipment and machinery; and construction loans to real estate developers for the acquisition, development, and construction of residential subdivisions.
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