Great Lakes Advisors LLC lessened its holdings in Bancorpsouth Bank (NYSE:BXS) by 9.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 95,727 shares of the bank’s stock after selling 9,502 shares during the period. Great Lakes Advisors LLC’s holdings in Bancorpsouth Bank were worth $3,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Chicago Equity Partners LLC bought a new stake in Bancorpsouth Bank in the 2nd quarter valued at $3,886,000. Raymond James & Associates grew its holdings in shares of Bancorpsouth Bank by 6.7% in the 2nd quarter. Raymond James & Associates now owns 79,294 shares of the bank’s stock worth $2,613,000 after purchasing an additional 4,955 shares during the last quarter. Strs Ohio grew its holdings in shares of Bancorpsouth Bank by 56.9% in the 2nd quarter. Strs Ohio now owns 9,100 shares of the bank’s stock worth $299,000 after purchasing an additional 3,300 shares during the last quarter. Kaizen Advisory LLC bought a new stake in shares of Bancorpsouth Bank in the 3rd quarter worth about $968,000. Finally, Swiss National Bank grew its holdings in shares of Bancorpsouth Bank by 10.5% in the 3rd quarter. Swiss National Bank now owns 165,100 shares of the bank’s stock worth $5,399,000 after purchasing an additional 15,700 shares during the last quarter. 74.00% of the stock is currently owned by hedge funds and other institutional investors.
BXS opened at $30.62 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.85 and a current ratio of 0.86. Bancorpsouth Bank has a twelve month low of $26.91 and a twelve month high of $35.55. The stock has a market capitalization of $2.78 billion, a PE ratio of 14.80 and a beta of 1.40.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Friday, December 14th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, December 13th. Bancorpsouth Bank’s dividend payout ratio is currently 40.72%.
Several equities research analysts have recently weighed in on BXS shares. Brean Capital reaffirmed a “hold” rating on shares of Bancorpsouth Bank in a report on Monday, August 6th. Stephens reaffirmed a “buy” rating and issued a $37.00 target price on shares of Bancorpsouth Bank in a report on Monday, August 27th. Zacks Investment Research lowered shares of Bancorpsouth Bank from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. ValuEngine lowered shares of Bancorpsouth Bank from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Finally, Royal Bank of Canada lowered their target price on shares of Bancorpsouth Bank to $32.00 and set a “market perform” rating on the stock in a report on Friday, October 19th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Bancorpsouth Bank currently has a consensus rating of “Hold” and an average target price of $34.50.
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About Bancorpsouth Bank
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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