) crafted a new 52-week high, touching $20.56 at the beginning of
the trading session on Aug 16. The closing price of this
commercial banking and financial services provider represents a
solid year-to-date return of 35.1%. The trading volume for the
session was 646,247 shares.
Despite hitting its 52-week high, this Zacks Rank #2 (Buy) stock
has plenty of upside left, given its strong estimate revisions
over the last 30 days and expected long-term earnings growth of
Impressive second-quarter 2013 results - including a positive
earnings surprise of 10% and significant improvement in the
credit quality - as well as a strong capital position were the
primary growth drivers for BancorpSouth.
On Jul 23, BancorpSouth reported its second-quarter 2013 net
income of 22 cents per share, outpacing the Zacks Consensus
Estimate by 10%. However, results were in line with the
prior-year quarter earnings.
A year-over-year increase of 14.4% in non-interest revenue and a
rise in deposits and loans were the tailwinds for the quarter.
Moreover, the company's capital ratios depict its strong
position. However, a 6.2% fall in net interest revenue and an
escalation of 4.2% in non-interest expenses acted as headwinds
for the quarter.
Further, BancorpSouth has now delivered positive earnings
surprises in 3 of the last 4 quarters with an average beat of
Estimate Revisions Show Potency
Over the last 30 days, 8 out of 10 estimates for 2013 have been
revised upward for BancorpSouth, lifting the Zacks Consensus
Estimate by 8.8% to 99 cents per share. For 2014, all the 10
estimates moved north, helping the Zacks Consensus Estimate
advance 9.3% to $1.17 per share.
Some better performing Southwest banks include
Farmers Capital Bank Corporation
Home Bancshares, Inc. (Conway, AR)
First M&F Corporation
). All 3 companies carry a Zacks Rank #1 (Strong Buy).
BANCORPSOUTH (BXS): Free Stock Analysis
FARMERS CAP KY (FFKT): Free Stock Analysis
FIRST M & F CRP (FMFC): Get Free Report
HOME BANCSHARES (HOMB): Free Stock Analysis
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