TUPELO, Miss. (AP) _ BancorpSouth Bank (BXS) on Wednesday reported first-quarter net income of $51.6 million.
The bank, based in Tupelo, Mississippi, said it had earnings of 52 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 56 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The bank posted revenue of $245.4 million in the period. Its revenue net of interest expense was $216.8 million, falling short of Street forecasts. Four analysts surveyed by Zacks expected $221.2 million.
BancorpSouth shares have risen 16 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30.40, a decrease of slightly more than 2 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BXS at https://www.zacks.com/ap/BXS