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BancorpSouth's National United Buyout to Aid Texas Operations
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BancorpSouth Bank yesterday announced that it will acquire all the outstanding shares of Gatesville, TX-based National United Bancshares, Inc. in a cash and stock merger agreement. The transaction has been approved by the boards of directors of both parties.
It is worth noting here that BancorpSouth’s share price increased 1.15% yesterday, ending the trading session at $26.49.
The parent company of National United — National United Bancshares — provides banking services through six offices in Texas. It reported total assets of $748.6 million at the end of September 2020, while its total loans and total deposits were $450.6 million and $672.5 million, respectively.
Inside the Headlines
Per the merger agreement, BancorpSouth will acquire the stakes in National United for $33.25 million in cash and 3.11 million of its own shares. The existing president and CEO of National United, Eugene Worthington, will act as area chairman of the combined business.
Upon the satisfaction of customary conditions as well as the receipt of regulatory and National United’s shareholders’ approvals, the parties anticipate completing the transaction in the first half of 2021.
The acquisition is anticipated to enhance BancorpSouth’s presence in the central region of Texas. Expansion in key markets will be a lot easier post completion.
BancorpSouth’s Buyout Activities
Acquiring businesses are good means for BancorpSouth to expand its customer base and geographical presence. Earlier the above-mentioned buyout deal, the company added Alexander & Sanders Insurance Agency, Inc. in October and Texas First Bancshares in January to its portfolio.
It is worth noting that the buyout of Alexander & Sanders Insurance Agency was accomplished through the insurance unit of BancorpSouth, BXS Insurance, Inc. This buyout enabled BancorpSouth to expand its insurance-related operations in Louisiana.
On the other hand, Texas First Bancshares’ buyout allowed BancorpSouth to strengthen its footprint in Texas.
Zacks Rank, Estimate Trend and Price Performance
With a market capitalization of $2.7 billion, BancorpSouth currently sports a Zacks Rank #1 (Strong Buy). Increase in fee income, inorganic activities and favorable lending scenarios are anticipated to benefit the company in the quarters ahead.
In the past three months, BancorpSouth’s shares have gained 18.6% compared with the industry’s growth of 22.4%.
Meanwhile, the Zacks Consensus Estimate for its earnings is pegged at $2.08 for 2020 and $2.12 for 2021, reflecting growth of 18.9% and 24% from the respective 60-day-ago figures. Notably, seven upward revisions in earnings estimates have been recorded for both years.
Also, the estimate for the fourth quarter of 2020 at 61 cents per share reflects growth of 45.2% from the 60-day-ago figure. Five upward revisions in estimates have been recorded in the past 60 days.
In the past 60 days, earnings estimates for these companies have improved for the current year. Further, earnings surprise for the last reported quarter was 51.92% for Allegiance Bancshares, 72.22% for Capital City Bank and 87.78% for Ameris Bancorp.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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BancorpSouth's National United Buyout to Aid Texas Operations
BancorpSouth Bank yesterday announced that it will acquire all the outstanding shares of Gatesville, TX-based National United Bancshares, Inc. in a cash and stock merger agreement. The transaction has been approved by the boards of directors of both parties.
It is worth noting here that BancorpSouth’s share price increased 1.15% yesterday, ending the trading session at $26.49.
The parent company of National United — National United Bancshares — provides banking services through six offices in Texas. It reported total assets of $748.6 million at the end of September 2020, while its total loans and total deposits were $450.6 million and $672.5 million, respectively.
Inside the Headlines
Per the merger agreement, BancorpSouth will acquire the stakes in National United for $33.25 million in cash and 3.11 million of its own shares. The existing president and CEO of National United, Eugene Worthington, will act as area chairman of the combined business.
Upon the satisfaction of customary conditions as well as the receipt of regulatory and National United’s shareholders’ approvals, the parties anticipate completing the transaction in the first half of 2021.
The acquisition is anticipated to enhance BancorpSouth’s presence in the central region of Texas. Expansion in key markets will be a lot easier post completion.
BancorpSouth’s Buyout Activities
Acquiring businesses are good means for BancorpSouth to expand its customer base and geographical presence. Earlier the above-mentioned buyout deal, the company added Alexander & Sanders Insurance Agency, Inc. in October and Texas First Bancshares in January to its portfolio.
It is worth noting that the buyout of Alexander & Sanders Insurance Agency was accomplished through the insurance unit of BancorpSouth, BXS Insurance, Inc. This buyout enabled BancorpSouth to expand its insurance-related operations in Louisiana.
On the other hand, Texas First Bancshares’ buyout allowed BancorpSouth to strengthen its footprint in Texas.
Zacks Rank, Estimate Trend and Price Performance
With a market capitalization of $2.7 billion, BancorpSouth currently sports a Zacks Rank #1 (Strong Buy). Increase in fee income, inorganic activities and favorable lending scenarios are anticipated to benefit the company in the quarters ahead.
In the past three months, BancorpSouth’s shares have gained 18.6% compared with the industry’s growth of 22.4%.
Meanwhile, the Zacks Consensus Estimate for its earnings is pegged at $2.08 for 2020 and $2.12 for 2021, reflecting growth of 18.9% and 24% from the respective 60-day-ago figures. Notably, seven upward revisions in earnings estimates have been recorded for both years.
BancorpSouth Bank Price and Consensus
BancorpSouth Bank price-consensus-chart | BancorpSouth Bank Quote
Also, the estimate for the fourth quarter of 2020 at 61 cents per share reflects growth of 45.2% from the 60-day-ago figure. Five upward revisions in estimates have been recorded in the past 60 days.
Other Stocks That Warrants a Look
Some other top-ranked stocks in the industry are Allegiance Bancshares, Inc. , Capital City Bank Group, Inc. (CCBG - Free Report) and Ameris Bancorp (ABCB - Free Report) . All these companies currently sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
In the past 60 days, earnings estimates for these companies have improved for the current year. Further, earnings surprise for the last reported quarter was 51.92% for Allegiance Bancshares, 72.22% for Capital City Bank and 87.78% for Ameris Bancorp.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>