UBS Group AG cut its stake in BancorpSouth, Inc. (NYSE:BXS) by 42.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 24,905 shares of the bank’s stock after selling 18,373 shares during the period. UBS Group AG’s holdings in BancorpSouth were worth $753,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in BancorpSouth by 5.0% in the first quarter. Vanguard Group Inc. now owns 6,965,034 shares of the bank’s stock valued at $210,692,000 after buying an additional 331,845 shares during the last quarter. Dimensional Fund Advisors LP raised its position in BancorpSouth by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,141,704 shares of the bank’s stock valued at $125,288,000 after buying an additional 101,542 shares during the last quarter. JPMorgan Chase & Co. raised its position in BancorpSouth by 57.6% in the first quarter. JPMorgan Chase & Co. now owns 1,896,088 shares of the bank’s stock valued at $57,356,000 after buying an additional 692,989 shares during the last quarter. Wellington Management Group LLP raised its position in BancorpSouth by 6.4% in the first quarter. Wellington Management Group LLP now owns 1,294,718 shares of the bank’s stock valued at $39,166,000 after buying an additional 78,235 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in BancorpSouth by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 1,194,734 shares of the bank’s stock valued at $36,141,000 after buying an additional 46,391 shares during the last quarter. Institutional investors and hedge funds own 66.51% of the company’s stock.
Shares of BancorpSouth, Inc. (NYSE:BXS) traded down 2.25% on Thursday, reaching $28.30. 540,509 shares of the company traded hands. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 17.43 and a beta of 1.39. BancorpSouth, Inc. has a 1-year low of $22.23 and a 1-year high of $32.40. The company has a 50-day moving average of $30.21 and a 200-day moving average of $30.23.
BancorpSouth (NYSE:BXS) last posted its quarterly earnings data on Wednesday, July 19th. The bank reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. The company had revenue of $185.61 million for the quarter, compared to analyst estimates of $187.78 million. BancorpSouth had a net margin of 19.46% and a return on equity of 8.77%. During the same quarter last year, the firm posted $0.39 earnings per share. Analysts anticipate that BancorpSouth, Inc. will post $1.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.98%. This is a positive change from BancorpSouth’s previous quarterly dividend of $0.13. BancorpSouth’s dividend payout ratio (DPR) is currently 30.86%.
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A number of brokerages recently weighed in on BXS. Jefferies Group LLC restated a “hold” rating and issued a $33.00 price objective on shares of BancorpSouth in a report on Friday, July 14th. Stephens reaffirmed a “buy” rating on shares of BancorpSouth in a research report on Wednesday, April 19th. Brean Capital reaffirmed a “hold” rating on shares of BancorpSouth in a research report on Thursday, July 20th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $32.00 target price on shares of BancorpSouth in a research report on Monday, June 5th. Finally, ValuEngine raised shares of BancorpSouth from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. BancorpSouth currently has an average rating of “Hold” and a consensus price target of $31.67.
About BancorpSouth
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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