Victory Capital Management Inc. raised its position in shares of BancorpSouth, Inc. (NYSE:BXS) by 50.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,181,986 shares of the bank’s stock after buying an additional 397,740 shares during the period. Victory Capital Management Inc. owned about 1.30% of BancorpSouth worth $37,883,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC raised its stake in shares of BancorpSouth by 92.5% in the second quarter. Riverhead Capital Management LLC now owns 3,657 shares of the bank’s stock valued at $112,000 after acquiring an additional 1,757 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of BancorpSouth by 9.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,841 shares of the bank’s stock valued at $117,000 after acquiring an additional 316 shares in the last quarter. Sei Investments Co. raised its stake in shares of BancorpSouth by 34.4% in the second quarter. Sei Investments Co. now owns 6,063 shares of the bank’s stock valued at $186,000 after acquiring an additional 1,553 shares in the last quarter. Oakbrook Investments LLC acquired a new stake in shares of BancorpSouth in the third quarter valued at $202,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of BancorpSouth in the third quarter valued at $203,000. Institutional investors and hedge funds own 66.29% of the company’s stock.
Shares of BancorpSouth, Inc. (NYSE:BXS) opened at $31.20 on Wednesday. BancorpSouth, Inc. has a 52 week low of $23.50 and a 52 week high of $32.70. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $2,740.70, a price-to-earnings ratio of 19.51 and a beta of 1.41.
BancorpSouth (NYSE:BXS) last posted its quarterly earnings results on Thursday, October 19th. The bank reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. BancorpSouth had a return on equity of 8.98% and a net margin of 19.59%. The company had revenue of $186.52 million for the quarter, compared to analysts’ expectations of $191.32 million. During the same period last year, the firm earned $0.40 earnings per share. BancorpSouth’s quarterly revenue was up .5% on a year-over-year basis. equities research analysts predict that BancorpSouth, Inc. will post 1.65 EPS for the current year.
BancorpSouth announced that its board has approved a share buyback program on Tuesday, October 31st that permits the company to buyback 6,000,000 outstanding shares. This buyback authorization permits the bank to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, December 14th. BancorpSouth’s dividend payout ratio (DPR) is currently 33.94%.
Several analysts have recently issued reports on BXS shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $32.00 price objective on shares of BancorpSouth in a research note on Thursday, October 12th. Piper Jaffray Companies reiterated a “hold” rating and issued a $31.00 price objective on shares of BancorpSouth in a research note on Friday, July 21st. Zacks Investment Research upgraded BancorpSouth from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, September 19th. Royal Bank Of Canada reiterated a “hold” rating and issued a $33.00 price objective on shares of BancorpSouth in a research note on Friday, October 20th. Finally, BidaskClub cut BancorpSouth from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $33.00.
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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