Bancorpsouth Bank (BXS) Cut to “Hold” at Zacks Investment Research

Bancorpsouth Bank (NYSE:BXS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. 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. Despite rise in interest rates, the company’s volatile net interest margin continues to be a concern owing to its liability sensitive balance sheet. Also, huge exposure in consumer mortgage and commercial real estate loans can adversely affect the company’s financials in the form of higher provisions.”

A number of other research firms also recently weighed in on BXS. ValuEngine raised shares of Bancorpsouth Bank from a “hold” rating to a “buy” rating in a research report on Saturday, May 12th. Piper Jaffray Companies set a $36.00 target price on shares of Bancorpsouth Bank and gave the company a “hold” rating in a research report on Monday, April 23rd. Hovde Group set a $35.00 target price on shares of Bancorpsouth Bank and gave the company a “hold” rating in a research report on Monday, April 23rd. Brean Capital reaffirmed a “hold” rating on shares of Bancorpsouth Bank in a research report on Thursday, May 3rd. Finally, Stephens reissued a “buy” rating and issued a $36.00 price objective on shares of Bancorpsouth Bank in a research report on Friday, April 20th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Bancorpsouth Bank presently has a consensus rating of “Hold” and an average target price of $35.13.

Bancorpsouth Bank stock opened at $33.60 on Wednesday. The firm has a market capitalization of $2.99 billion, a P/E ratio of 18.32 and a beta of 1.41. Bancorpsouth Bank has a 1-year low of $27.20 and a 1-year high of $35.55. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.02.

Bancorpsouth Bank (NYSE:BXS) last released its earnings results on Wednesday, April 18th. The bank reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The business had revenue of $217.01 million during the quarter, compared to the consensus estimate of $210.65 million. Bancorpsouth Bank had a net margin of 20.58% and a return on equity of 9.49%. During the same quarter last year, the firm earned $0.39 earnings per share. research analysts anticipate that Bancorpsouth Bank will post 2.23 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Bancorpsouth Bank by 3.1% in the 4th quarter. BlackRock Inc. now owns 9,251,355 shares of the bank’s stock valued at $290,955,000 after acquiring an additional 277,464 shares during the period. Paloma Partners Management Co lifted its stake in shares of Bancorpsouth Bank by 9.1% during the 4th quarter. Paloma Partners Management Co now owns 25,511 shares of the bank’s stock worth $802,000 after buying an additional 2,128 shares during the last quarter. Sciencast Management LP acquired a new stake in shares of Bancorpsouth Bank during the 4th quarter worth about $210,000. Two Sigma Securities LLC acquired a new stake in shares of Bancorpsouth Bank during the 4th quarter worth about $763,000. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Bancorpsouth Bank during the 4th quarter worth about $2,878,000. 70.68% of the stock is owned by institutional investors.

Bancorpsouth Bank Company Profile

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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Analyst Recommendations for Bancorpsouth Bank (NYSE:BXS)

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