BancorpSouth Bank (NYSE:BXS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, May 2nd. The brokerage currently has a $37.00 target price on the bank’s stock. Zacks Investment Research‘s target price indicates a potential upside of 8.19% from the stock’s current price.
According to Zacks, “Shares of BancorpSouth underperformed the industry over the past six months. However, the company boasts an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. The company’s first-quarter 2018 operating earnings benefited from improvement in net interest revenues and non-interest revenues, partially offset by elevated expenses. Loans and deposit balances remained strong during the quarter. Given a strong balance-sheet position, the company has been steadily enhancing shareholders’ value through strategic acquisitions, dividend hikes, share buybacks and excellent expense-management initiatives. Recently, the company announced plans to acquire Icon Capital Corporation. However, its exposure to consumer mortgage and commercial real estate loans continues to be a near-term concern.”
Several other analysts also recently weighed in on the company. Piper Jaffray set a $36.00 target price on shares of BancorpSouth Bank and gave the stock a “hold” rating in a report on Monday, April 23rd. Hovde Group set a $35.00 target price on shares of BancorpSouth Bank and gave the stock a “hold” rating in a report on Monday, April 23rd. Stephens reiterated a “buy” rating and issued a $36.00 target price on shares of BancorpSouth Bank in a report on Friday, April 20th. Royal Bank of Canada restated a “hold” rating and set a $37.00 price objective on shares of BancorpSouth Bank in a report on Friday, April 20th. Finally, Brean Capital restated a “hold” rating on shares of BancorpSouth Bank in a report on Monday, April 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $35.00.
BancorpSouth Bank opened at $34.20 on Wednesday, MarketBeat.com reports. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $3.09 billion, a P/E ratio of 18.90 and a beta of 1.42. BancorpSouth Bank has a fifty-two week low of $34.25 and a fifty-two week high of $34.45.
BancorpSouth Bank (NYSE:BXS) last issued its earnings results on Wednesday, April 18th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. The firm had revenue of $217.01 million during the quarter, compared to analyst estimates of $210.65 million. BancorpSouth Bank had a net margin of 20.58% and a return on equity of 9.49%. During the same period in the previous year, the firm earned $0.39 earnings per share. analysts predict that BancorpSouth Bank will post 2.24 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in BXS. BancorpSouth Bank purchased a new stake in BancorpSouth Bank in the 4th quarter worth approximately $20,913,000. Wedge Capital Management L L P NC acquired a new position in shares of BancorpSouth Bank during the 1st quarter worth approximately $16,539,000. BlackRock Inc. raised its stake in shares of BancorpSouth Bank by 3.1% during the 4th quarter. BlackRock Inc. now owns 9,251,355 shares of the bank’s stock worth $290,955,000 after buying an additional 277,464 shares during the period. Deutsche Bank AG raised its stake in shares of BancorpSouth Bank by 187.9% during the 4th quarter. Deutsche Bank AG now owns 273,900 shares of the bank’s stock worth $8,611,000 after buying an additional 178,765 shares during the period. Finally, RMB Capital Management LLC acquired a new position in shares of BancorpSouth Bank during the 1st quarter worth approximately $4,757,000. Institutional investors and hedge funds own 67.67% of the company’s stock.
About BancorpSouth Bank
BancorpSouth Bank operates as a financial holding company for BancorpSouth Bank that 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.
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