Analysts Expect Bancorpsouth Bank (NYSE:BXS) Will Announce Quarterly Sales of $235.83 Million

Wall Street brokerages expect Bancorpsouth Bank (NYSE:BXS) to announce $235.83 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Bancorpsouth Bank’s earnings. The highest sales estimate is $236.90 million and the lowest is $235.00 million. Bancorpsouth Bank reported sales of $213.75 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 10.3%. The company is expected to issue its next quarterly earnings results on Wednesday, October 16th.

According to Zacks, analysts expect that Bancorpsouth Bank will report full year sales of $927.78 million for the current fiscal year, with estimates ranging from $920.30 million to $935.20 million. For the next fiscal year, analysts expect that the business will post sales of $991.43 million, with estimates ranging from $986.70 million to $996.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Bancorpsouth Bank.

Bancorpsouth Bank (NYSE:BXS) last issued its quarterly earnings results on Wednesday, July 17th. The bank reported $0.61 EPS for the quarter, meeting analysts’ consensus estimates of $0.61. The company had revenue of $226.35 million for the quarter, compared to analyst estimates of $234.95 million. Bancorpsouth Bank had a return on equity of 10.30% and a net margin of 22.39%. During the same period in the previous year, the company posted $0.55 earnings per share.

BXS has been the topic of several analyst reports. Zacks Investment Research lowered Bancorpsouth Bank from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Stephens reiterated a “hold” rating and set a $33.00 target price on shares of Bancorpsouth Bank in a report on Thursday, April 18th. Finally, Royal Bank of Canada set a $31.00 target price on Bancorpsouth Bank and gave the stock a “hold” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Bancorpsouth Bank has a consensus rating of “Hold” and a consensus price target of $32.25.

Shares of Bancorpsouth Bank stock traded up $0.22 during trading on Thursday, reaching $27.69. The stock had a trading volume of 382,000 shares, compared to its average volume of 488,466. The company has a market cap of $2.78 billion, a P/E ratio of 12.42 and a beta of 1.41. The business’s fifty day simple moving average is $28.72. Bancorpsouth Bank has a 52 week low of $24.31 and a 52 week high of $35.40.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 2.67%. The ex-dividend date is Thursday, September 12th. This is a positive change from Bancorpsouth Bank’s previous quarterly dividend of $0.17. Bancorpsouth Bank’s dividend payout ratio is presently 30.49%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC raised its position in Bancorpsouth Bank by 2.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 216,919 shares of the bank’s stock worth $6,299,000 after purchasing an additional 5,304 shares during the last quarter. Northern Trust Corp raised its position in Bancorpsouth Bank by 6.0% during the 2nd quarter. Northern Trust Corp now owns 2,831,500 shares of the bank’s stock worth $82,228,000 after purchasing an additional 161,282 shares during the last quarter. Pacer Advisors Inc. bought a new position in Bancorpsouth Bank during the 2nd quarter worth $1,048,000. Renaissance Technologies LLC raised its position in Bancorpsouth Bank by 149.3% during the 2nd quarter. Renaissance Technologies LLC now owns 18,200 shares of the bank’s stock worth $529,000 after purchasing an additional 10,900 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Bancorpsouth Bank by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,247,495 shares of the bank’s stock worth $36,228,000 after purchasing an additional 21,630 shares during the last quarter. Institutional investors and hedge funds own 65.40% of the company’s stock.

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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Earnings History and Estimates for Bancorpsouth Bank (NYSE:BXS)

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