MidSouth Bancorp (MSL) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of MidSouth Bancorp (NYSE:MSL) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “MIDSOUTH BANCORP, INC. is a bank holding company engaged in general banking business. “
MSL has been the subject of a number of other reports. Raymond James Financial, Inc. reaffirmed an underperform rating on shares of MidSouth Bancorp in a report on Friday, June 9th. Hovde Group cut their price objective on shares of MidSouth Bancorp from $16.00 to $14.00 and set an outperform rating for the company in a report on Wednesday, June 14th. Stephens reaffirmed a hold rating on shares of MidSouth Bancorp in a report on Thursday, April 27th. TheStreet lowered shares of MidSouth Bancorp from a b- rating to a c rating in a report on Monday, June 12th. Finally, UBS AG lowered shares of MidSouth Bancorp to an underperform rating in a report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $17.00.
Shares of MidSouth Bancorp (MSL) traded down 0.89% during midday trading on Wednesday, reaching $11.10. 82,354 shares of the company’s stock traded hands. The firm’s market capitalization is $177.89 million. MidSouth Bancorp has a one year low of $9.52 and a one year high of $16.60. The stock’s 50-day moving average price is $11.57 and its 200 day moving average price is $13.57.
MidSouth Bancorp (NYSE:MSL) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.06. MidSouth Bancorp had a net margin of 1.69% and a return on equity of 1.84%. The business had revenue of $23.47 million during the quarter, compared to analyst estimates of $23.50 million. On average, equities research analysts expect that MidSouth Bancorp will post ($0.10) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.36%. MidSouth Bancorp’s dividend payout ratio is currently -360.00%.
In other news, Chairman Jake Delhomme bought 2,500 shares of the stock in a transaction dated Thursday, June 8th. The stock was purchased at an average cost of $12.00 per share, for a total transaction of $30,000.00. Following the transaction, the chairman now owns 34,150 shares of the company’s stock, valued at $409,800. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director R Glenn Pumpelly bought 5,000 shares of the stock in a transaction dated Thursday, June 8th. The shares were purchased at an average price of $12.00 per share, with a total value of $60,000.00. Following the completion of the transaction, the director now directly owns 95,473 shares in the company, valued at approximately $1,145,676. The disclosure for this purchase can be found here. Insiders have bought a total of 13,250 shares of company stock valued at $159,000 over the last quarter. Corporate insiders own 19.84% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of MSL. Dimensional Fund Advisors LP increased its position in MidSouth Bancorp by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 326,313 shares of the bank’s stock worth $4,438,000 after buying an additional 4,933 shares in the last quarter. Naples Global Advisors LLC increased its stake in shares of MidSouth Bancorp by 0.9% in the first quarter. Naples Global Advisors LLC now owns 21,350 shares of the bank’s stock worth $327,000 after buying an additional 200 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of MidSouth Bancorp by 1.9% in the first quarter. Bank of New York Mellon Corp now owns 32,182 shares of the bank’s stock worth $492,000 after buying an additional 604 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its stake in shares of MidSouth Bancorp by 15.3% in the first quarter. Pacific Ridge Capital Partners LLC now owns 248,669 shares of the bank’s stock worth $3,805,000 after buying an additional 32,934 shares in the last quarter. Finally, Segantii Capital Management Ltd increased its stake in shares of MidSouth Bancorp by 463.9% in the first quarter. Segantii Capital Management Ltd now owns 10,151 shares of the bank’s stock worth $155,000 after buying an additional 8,351 shares in the last quarter. Hedge funds and other institutional investors own 27.64% of the company’s stock.
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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