MidSouth Bancorp (NYSE:MSL) Expected to Post Quarterly Sales of $23.50 Million
Equities research analysts predict that MidSouth Bancorp (NYSE:MSL) will report $23.50 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for MidSouth Bancorp’s earnings. The lowest sales estimate is $23.40 million and the highest is $23.60 million. MidSouth Bancorp reported sales of $22.86 million in the same quarter last year, which indicates a positive year over year growth rate of 2.8%. The company is expected to issue its next quarterly earnings report after the market closes on Tuesday, July 25th.
According to Zacks, analysts expect that MidSouth Bancorp will report full year sales of $23.50 million for the current fiscal year, with estimates ranging from $93.90 million to $94.79 million. For the next financial year, analysts expect that the firm will report sales of $98.14 million per share, with estimates ranging from $97.30 million to $98.98 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover MidSouth Bancorp.
MidSouth Bancorp (NYSE:MSL) last announced its quarterly earnings results on Thursday, April 27th. The bank reported $0.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.15. MidSouth Bancorp had a net margin of 8.91% and a return on equity of 5.00%. The company had revenue of $23.11 million for the quarter, compared to analysts’ expectations of $22.90 million.
Several brokerages recently weighed in on MSL. Zacks Investment Research downgraded MidSouth Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. TheStreet raised MidSouth Bancorp from a “c+” rating to a “b-” rating in a report on Wednesday, May 17th. Stephens reaffirmed a “hold” rating on shares of MidSouth Bancorp in a report on Thursday, April 27th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of MidSouth Bancorp in a report on Friday, June 9th. Finally, Hovde Group decreased their price target on MidSouth Bancorp from $18.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $17.67.
In other MidSouth Bancorp news, Chairman Jake Delhomme purchased 2,500 shares of the firm’s stock in a transaction on Thursday, June 8th. The shares were purchased at an average cost of $12.00 per share, with a total value of $30,000.00. Following the purchase, the chairman now owns 34,150 shares in the company, valued at $409,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Glenn Pumpelly purchased 5,000 shares of the firm’s stock in a transaction on Thursday, June 8th. The stock was acquired at an average cost of $12.00 per share, for a total transaction of $60,000.00. Following the completion of the purchase, the director now owns 95,473 shares in the company, valued at approximately $1,145,676. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 13,250 shares of company stock worth $159,000. 23.27% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in MidSouth Bancorp by 17.8% in the fourth quarter. Renaissance Technologies LLC now owns 292,400 shares of the bank’s stock valued at $3,977,000 after buying an additional 44,200 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in MidSouth Bancorp during the first quarter valued at $515,000. Pacific Ridge Capital Partners LLC raised its position in MidSouth Bancorp by 15.3% in the first quarter. Pacific Ridge Capital Partners LLC now owns 248,669 shares of the bank’s stock valued at $3,805,000 after buying an additional 32,934 shares during the period. Dimensional Fund Advisors LP raised its position in MidSouth Bancorp by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 350,222 shares of the bank’s stock valued at $5,358,000 after buying an additional 23,909 shares during the period. Finally, Federated Investors Inc. PA raised its position in MidSouth Bancorp by 68.0% in the fourth quarter. Federated Investors Inc. PA now owns 29,922 shares of the bank’s stock valued at $407,000 after buying an additional 12,115 shares during the period. 25.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of MidSouth Bancorp (NYSE:MSL) traded down 0.42% during trading on Friday, hitting $11.80. 53,711 shares of the company traded hands. The company has a market capitalization of $134.32 million, a price-to-earnings ratio of 21.07 and a beta of 1.14. MidSouth Bancorp has a 52 week low of $9.52 and a 52 week high of $16.60. The company has a 50 day moving average price of $13.03 and a 200 day moving average price of $14.04.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Tuesday, June 13th. MidSouth Bancorp’s payout ratio is 64.29%.
MidSouth Bancorp Company Profile
MidSouth Bancorp, Inc is a financial holding company. The Company operates primarily through its wholly owned bank subsidiary, MidSouth Bank, N.A. The Company is operating principally in the community banking business by providing banking services to commercial and retail customers through the Bank. The Bank is community oriented and focuses primarily on offering commercial and consumer loan and deposit services to individuals and small to middle market businesses in Louisiana, and central and east Texas.
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