Traders Are Bullish BancorpSouth, Inc. (BXS) After The Stock Formed Bullish Descending Triangle Chart Pattern

July 17, 2017 - By Richard Conner

Investors sentiment decreased to 0.89 in Q4 2016. Its down 0.57, from 1.46 in 2016Q3. It is negative, as 13 investors sold BancorpSouth, Inc. shares while 67 reduced holdings. 23 funds opened positions while 48 raised stakes. 60.74 million shares or 4.35% more from 58.21 million shares in 2016Q3 were reported.
Northern Tru holds 2.37M shares or 0.02% of its portfolio. Proshare Advsr Ltd Com holds 35,753 shares or 0.01% of its portfolio. 1.01M were accumulated by Cortina Asset Mngmt Lc. Blackrock Group Ltd holds 0% or 76,158 shares in its portfolio. Wisconsin-based Northwestern Mutual Wealth has invested 0% in BancorpSouth, Inc. (NYSE:BXS). Creative Planning holds 0% or 4,181 shares. Blackrock Advisors Lc invested 0% of its portfolio in BancorpSouth, Inc. (NYSE:BXS). Wesbanco Financial Bank invested 0.08% in BancorpSouth, Inc. (NYSE:BXS). United Capital Advisers Limited Liability Corp has 115,788 shares for 0.03% of their portfolio. Synovus Fincl Corporation stated it has 0% in BancorpSouth, Inc. (NYSE:BXS). National Bank Of Montreal Can has 0% invested in BancorpSouth, Inc. (NYSE:BXS) for 119,559 shares. 21,100 were accumulated by Louisiana State Employees Retirement Sys. Jacobs Levy Equity Mgmt Incorporated invested in 22,431 shares or 0.01% of the stock. State Board Of Administration Of Florida Retirement invested in 85,937 shares or 0.01% of the stock. Waddell And Reed Fincl holds 0.01% of its portfolio in BancorpSouth, Inc. (NYSE:BXS) for 123,300 shares.

Since February 13, 2017, it had 1 insider buy, and 3 insider sales for $555,708 activity. Prater William L. sold $317,500 worth of stock. Another trade for 4,246 shares valued at $133,218 was sold by THREADGILL WILLIAM JAMES JR. 7,000 shares were bought by Campbell James Elbert III, worth $202,510.

The stock of BancorpSouth, Inc. (BXS) formed a descending triangle with $33.03 target or 9.00 % above today’s $30.30 share price. The 6 months triangle pattern indicates low risk for the $2.82B company. If the $33.03 price target is reached, the company will be worth $253.80 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 0.49% or $0.15 during the last trading session, reaching $30.3. About 242,745 shares traded. BancorpSouth, Inc. (NYSE:BXS) has risen 27.80% since July 17, 2016 and is uptrending. It has outperformed by 11.10% the S&P500.

Investors wait BancorpSouth, Inc. (NYSE:BXS) to report on July, 19. its quarterly earnings Wall Street analysts expect $0.40 EPS, up $0.01 or 2.56 % from last year’s $0.39 same quarter earnings. This translates into $37.23 million profit for BXS giving the stock a 18.94 P/E. This is assuming the current $0.40 EPS is accurate. BancorpSouth, Inc.’s Wall Street analysts see 2.56 % EPS growth, taking into account the $0.39 EPS reproted in the previous quarter,

BancorpSouth, Inc. (NYSE:BXS) Ratings Coverage

Among 9 analysts covering BancorpSouth Inc (NYSE:BXS), 0 have Buy rating, 1 Sell and 8 Hold. Therefore 0 are positive. BancorpSouth Inc had 18 analyst reports since July 22, 2015 according to SRatingsIntel. The stock of BancorpSouth, Inc. (NYSE:BXS) earned “Mkt Perform” rating by Raymond James on Monday, October 5. The company was maintained on Friday, July 7 by RBC Capital Markets. The stock of BancorpSouth, Inc. (NYSE:BXS) earned “Underperform” rating by Raymond James on Thursday, October 6. The firm has “Outperform” rating given on Thursday, June 30 by Keefe Bruyette & Woods. On Thursday, February 2 the stock rating was initiated by JMP Securities with “Mkt Perform”. As per Tuesday, January 10, the company rating was initiated by Brean Capital. RBC Capital Markets maintained the stock with “Outperform” rating in Wednesday, January 27 report. The stock has “Hold” rating by Jefferies on Friday, June 9. RBC Capital Markets downgraded the shares of BXS in report on Friday, October 21 to “Sector Perform” rating. The company was maintained on Monday, June 5 by Keefe Bruyette & Woods.

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