Millennium Management LLC Purchases 402,685 Shares of Bancorpsouth Bank (NYSE:BXS)

Millennium Management LLC grew its position in shares of Bancorpsouth Bank (NYSE:BXS) by 458.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 490,455 shares of the bank’s stock after buying an additional 402,685 shares during the period. Millennium Management LLC owned approximately 0.47% of Bancorpsouth Bank worth $14,522,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Point72 Asset Management L.P. bought a new position in Bancorpsouth Bank during the 3rd quarter worth $77,000. California State Teachers Retirement System increased its position in Bancorpsouth Bank by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 149,166 shares of the bank’s stock worth $4,417,000 after buying an additional 1,781 shares during the period. BancorpSouth Bank increased its position in Bancorpsouth Bank by 0.5% during the 3rd quarter. BancorpSouth Bank now owns 561,634 shares of the bank’s stock worth $16,630,000 after buying an additional 3,017 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in Bancorpsouth Bank by 1.8% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 26,697 shares of the bank’s stock worth $790,000 after buying an additional 468 shares during the period. Finally, Great Lakes Advisors LLC increased its position in Bancorpsouth Bank by 2.4% during the 3rd quarter. Great Lakes Advisors LLC now owns 197,492 shares of the bank’s stock worth $5,848,000 after buying an additional 4,653 shares during the period. Hedge funds and other institutional investors own 62.14% of the company’s stock.

Shares of NYSE BXS opened at $31.22 on Thursday. Bancorpsouth Bank has a 52 week low of $24.31 and a 52 week high of $33.45. The stock has a market capitalization of $3.26 billion, a P/E ratio of 14.00 and a beta of 1.44. The stock’s fifty day moving average is $30.88 and its 200 day moving average is $29.08.

Bancorpsouth Bank (NYSE:BXS) last issued its quarterly earnings results on Monday, October 21st. The bank reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. Bancorpsouth Bank had a return on equity of 10.51% and a net margin of 21.23%. The company had revenue of $242.03 million for the quarter, compared to analysts’ expectations of $238.70 million. During the same quarter last year, the business earned $0.56 earnings per share. Research analysts anticipate that Bancorpsouth Bank will post 2.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Friday, December 13th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date is Thursday, December 12th. Bancorpsouth Bank’s payout ratio is currently 33.18%.

Several research analysts have weighed in on the company. SunTrust Banks upgraded Bancorpsouth Bank from a “hold” rating to a “buy” rating and increased their price objective for the stock from $32.00 to $33.00 in a research report on Wednesday, September 25th. DA Davidson started coverage on Bancorpsouth Bank in a research report on Tuesday, August 20th. They issued a “neutral” rating and a $30.50 price target on the stock. ValuEngine upgraded Bancorpsouth Bank from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Piper Jaffray Companies started coverage on Bancorpsouth Bank in a research report on Wednesday, September 18th. They issued a “neutral” rating and a $32.50 price target on the stock. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $32.33.

Bancorpsouth Bank 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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Institutional Ownership by Quarter for Bancorpsouth Bank (NYSE:BXS)

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