Peregrine Capital Management LLC raised its stake in Bancorpsouth Bank (NYSE:BXS) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 200,475 shares of the bank’s stock after purchasing an additional 2,948 shares during the quarter. Peregrine Capital Management LLC owned 0.20% of Bancorpsouth Bank worth $4,559,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. State of Alaska Department of Revenue lifted its position in Bancorpsouth Bank by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 16,519 shares of the bank’s stock valued at $312,000 after purchasing an additional 746 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Bancorpsouth Bank by 2.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 35,974 shares of the bank’s stock valued at $681,000 after purchasing an additional 857 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Bancorpsouth Bank by 4.7% in the second quarter. Louisiana State Employees Retirement System now owns 24,300 shares of the bank’s stock valued at $553,000 after purchasing an additional 1,100 shares during the last quarter. Alliancebernstein L.P. lifted its position in Bancorpsouth Bank by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 249,008 shares of the bank’s stock valued at $7,821,000 after purchasing an additional 1,440 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in Bancorpsouth Bank by 14.8% in the fourth quarter. Jane Street Group LLC now owns 11,670 shares of the bank’s stock valued at $367,000 after purchasing an additional 1,504 shares during the last quarter. Hedge funds and other institutional investors own 62.10% of the company’s stock.
BXS has been the subject of several recent research reports. ValuEngine upgraded Bancorpsouth Bank from a “sell” rating to a “hold” rating in a research report on Thursday, June 4th. SunTrust Banks upped their target price on Bancorpsouth Bank from $25.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Janney Montgomery Scott downgraded Bancorpsouth Bank from a “buy” rating to a “neutral” rating and set a $26.00 target price for the company. in a report on Monday, June 8th. They noted that the move was a valuation call. Piper Sandler assumed coverage on Bancorpsouth Bank in a report on Wednesday, July 8th. They set a “neutral” rating and a $23.00 target price for the company. Finally, Wedbush downgraded Bancorpsouth Bank from an “outperform” rating to a “neutral” rating in a report on Monday, June 8th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $28.00.
Bancorpsouth Bank (NYSE:BXS) last posted its quarterly earnings data on Monday, July 20th. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.24. The business had revenue of $261.83 million during the quarter, compared to the consensus estimate of $247.16 million. Bancorpsouth Bank had a return on equity of 9.33% and a net margin of 19.19%. During the same quarter in the prior year, the company earned $0.61 earnings per share. On average, analysts predict that Bancorpsouth Bank will post 1.87 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be issued a $0.185 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.74 dividend on an annualized basis and a yield of 3.54%. Bancorpsouth Bank’s dividend payout ratio (DPR) is 29.48%.
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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