Municipal Employees Retirement System of Michigan reduced its stake in shares of BancorpSouth, Inc. (NYSE:BXS) by 18.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 32,210 shares of the bank’s stock after selling 7,120 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in BancorpSouth were worth $982,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in BXS. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of BancorpSouth by 61.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,525 shares of the bank’s stock valued at $107,000 after buying an additional 1,341 shares during the last quarter. Sei Investments Co. boosted its position in shares of BancorpSouth by 124.2% in the first quarter. Sei Investments Co. now owns 4,510 shares of the bank’s stock valued at $136,000 after buying an additional 2,498 shares during the last quarter. US Bancorp DE boosted its position in shares of BancorpSouth by 16.0% in the first quarter. US Bancorp DE now owns 5,148 shares of the bank’s stock valued at $155,000 after buying an additional 711 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of BancorpSouth by 15.8% in the second quarter. LS Investment Advisors LLC now owns 6,615 shares of the bank’s stock valued at $202,000 after buying an additional 901 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new position in shares of BancorpSouth during the first quarter valued at $215,000. 66.96% of the stock is currently owned by institutional investors and hedge funds.
BancorpSouth, Inc. (NYSE:BXS) opened at 28.55 on Friday. BancorpSouth, Inc. has a 52-week low of $22.23 and a 52-week high of $32.40. The company has a market cap of $2.60 billion, a PE ratio of 17.58 and a beta of 1.39. The firm’s 50 day moving average is $30.24 and its 200 day moving average is $30.27.
BancorpSouth (NYSE:BXS) last posted its quarterly earnings results on Wednesday, July 19th. The bank reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. BancorpSouth had a net margin of 19.46% and a return on equity of 8.77%. The firm had revenue of $185.61 million for the quarter, compared to analysts’ expectations of $187.78 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. Analysts forecast that BancorpSouth, Inc. will post $1.66 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be issued a dividend of $0.14 per share. This is a boost from BancorpSouth’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.96%. BancorpSouth’s dividend payout ratio is presently 30.86%.
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Several equities analysts recently weighed in on BXS shares. Zacks Investment Research raised shares of BancorpSouth from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Friday, July 21st. ValuEngine raised shares of BancorpSouth from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Stephens set a $35.00 price target on shares of BancorpSouth and gave the company a “buy” rating in a research report on Thursday, July 27th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $31.00 price target on shares of BancorpSouth in a research report on Friday, July 21st. Finally, BidaskClub raised shares of BancorpSouth from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $31.67.
In other news, Director James Elbert Campbell III purchased 7,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were purchased at an average price of $28.93 per share, for a total transaction of $202,510.00. Following the completion of the acquisition, the director now directly owns 133,392 shares in the company, valued at approximately $3,859,030.56. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.63% of the company’s stock.
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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