Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of BancorpSouth
So what: Earnings swung from a $12.6 million loss a year ago to a $12.8 million, or $0.15 per share, profit in the second quarter. A credit loss provision reduction from $62.4 million a year ago to $32.2 million this quarter was largely responsible for the improvement.
Now what: Analysts were only expecting a $0.04 profit per share, so this was obviously a big upside surprise. With that said, the company is still in turnaround phase and just starting to return to profitable operations. There are better values in the banking sector, like Wells Fargo
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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