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Downgrade Alert for BancorpSouth (BXS)Jan 04, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- BancorpSouth (NYSE:BXS) was downgraded from Market Perform to Underperform at Keefe Bruyette today. The stock closed yesterday at $15.07 on volume of 899,000 shares, above average daily volume of 593,000. 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. BancorpSouth (NYSE:BXS) is currently priced 8.8% above its average consensus analyst price target of $13.75. The stock should discover initial support at its 200-day moving average (MA) of $14.00 and subsequent support at its 50-day MA of $13.81. BancorpSouth share prices have moved between a 52-week high of $15.69 and a 52-week low of $10.85 and closed yesterday at 39% above that low price at $15.07 per share. The 200-day and 50-day moving averages have moved 0.14% higher and 0.36% higher over the past week, respectively. SmarTrend recommended that subscribers consider buying shares of BancorpSouth on December 18th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $14.34. Since that recommendation, shares of BancorpSouth have risen 5.1%. We continue to monitor BXS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |