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Buyers Accumulating Shares of BancorpSouth on 1.3x Above-Average Volume (BXS)

Published on Fri, 06/21/2013 - 14:54
By Peter Chu

Shares of BancorpSouth are trading today in above average volume, with the share price rising 0.2% to $16.80. Approximately 733,000 shares have changed hands today vs. average 30-day volume of 546,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

BancorpSouth, Inc. is the holding company for BancorpSouth Bank. The Bank attracts deposits from the general public and originates a variety of loans. BancorpSouth operates in Mississippi, Alabama, Tennessee, Arkansas, Texas, and Louisiana. The Company also provides investment services, consumer finance, credit life insurance, and insurance agency services.

Over the past year, BancorpSouth has traded in a range of $12.55 to $18.06 and is now at $16.80, 34% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.4%.

BancorpSouth (NYSE:BXS) is currently priced 6.5% above its average consensus analyst price target of $15.71. The stock should discover initial support at its 50-day moving average (MA) of $16.52 and subsequent support at its 200-day MA of $15.14.

By Peter Chu
pchu@fnno.com

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