Louisiana State Employees Retirement System increased its stake in Bancorpsouth Bank (NYSE:BXS) by 10.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,600 shares of the bank’s stock after buying an additional 2,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Bancorpsouth Bank were worth $804,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Chicago Equity Partners LLC purchased a new position in Bancorpsouth Bank during the 2nd quarter valued at about $3,886,000. Strs Ohio increased its position in Bancorpsouth Bank by 56.9% during the 2nd quarter. Strs Ohio now owns 9,100 shares of the bank’s stock valued at $299,000 after purchasing an additional 3,300 shares during the period. Schwab Charles Investment Management Inc. increased its position in Bancorpsouth Bank by 8.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 548,223 shares of the bank’s stock valued at $18,064,000 after purchasing an additional 40,637 shares during the period. Raymond James & Associates increased its position in Bancorpsouth Bank by 6.7% during the 2nd quarter. Raymond James & Associates now owns 79,294 shares of the bank’s stock valued at $2,613,000 after purchasing an additional 4,955 shares during the period. Finally, Argent Trust Co purchased a new position in Bancorpsouth Bank during the 2nd quarter valued at about $884,000. 72.81% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on BXS. Stephens restated a “buy” rating and issued a $37.00 price target on shares of Bancorpsouth Bank in a report on Thursday. Zacks Investment Research upgraded shares of Bancorpsouth Bank from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Wednesday, July 11th. Finally, Brean Capital restated a “hold” rating on shares of Bancorpsouth Bank in a report on Monday, August 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Bancorpsouth Bank has an average rating of “Hold” and a consensus target price of $36.17.
Bancorpsouth Bank (NYSE:BXS) last released its quarterly earnings results on Wednesday, October 17th. The bank reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. Bancorpsouth Bank had a net margin of 23.71% and a return on equity of 10.16%. The business had revenue of $213.75 million for the quarter, compared to analysts’ expectations of $216.90 million. During the same period last year, the business earned $0.43 EPS. As a group, equities research analysts forecast that Bancorpsouth Bank will post 2.21 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Friday, September 14th were issued a $0.17 dividend. This is a boost from Bancorpsouth Bank’s previous quarterly dividend of $0.14. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Thursday, September 13th. Bancorpsouth Bank’s dividend payout ratio (DPR) is currently 40.72%.
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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