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John Keeley Comments on Bancorp South

February 05, 2014 | About:

Bancorp South (BXS) was another position that made a positive contribution during the quarter and for the year. In 2013, the regional ban k climbed over 61 percent and added 91 basis points of return to the portfolio. The compan y produced a very solid quarterly earnings report and remains a core restructuring holding fea turing a new CEO, Dan Rollins, who comes from a successfully run bank in Texas, Prospe rity Bank. We believe there are consider- able operating costs that can be taken out of the b ank over a multi-year period so we remain very positive on the stock and believe it should pr oduce earnings upside over the next few years.

From John Keeley (Trades, Portfolio)'s Keeley All Cap Value Fund fourth quarter 2013 commentary.

Rating: 5.0/5 (1 vote)


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