MainSource Financial Group Inc. (MSFG) Sets New 12-Month High at $24.71
Shares of MainSource Financial Group Inc. (NASDAQ:MSFG) hit a new 52-week high on Tuesday . The stock traded as high as $24.71 and last traded at $24.70, with a volume of 56,506 shares traded. The stock had previously closed at $24.46.
MSFG has been the subject of several recent analyst reports. Zacks Investment Research downgraded MainSource Financial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Keefe, Bruyette & Woods increased their target price on MainSource Financial Group from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, August 26th.
The company’s 50-day moving average is $23.20 and its 200-day moving average is $22.14. The stock has a market capitalization of $592.95 million, a PE ratio of 16.60 and a beta of 0.88.
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MainSource Financial Group (NASDAQ:MSFG) last released its earnings results on Wednesday, July 27th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. MainSource Financial Group had a return on equity of 9.32% and a net margin of 19.76%. Analysts anticipate that MainSource Financial Group Inc. will post $1.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Tuesday, August 30th. MainSource Financial Group’s dividend payout ratio is currently 39.74%.
In related news, Director William G. Barron purchased 3,130 shares of MainSource Financial Group stock in a transaction dated Monday, August 29th. The stock was bought at an average cost of $23.45 per share, for a total transaction of $73,398.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.49% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in MSFG. Dimensional Fund Advisors LP boosted its position in shares of MainSource Financial Group by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,845,039 shares of the financial services provider’s stock valued at $40,683,000 after buying an additional 12,098 shares during the period. Vanguard Group Inc. boosted its position in shares of MainSource Financial Group by 3.3% in the second quarter. Vanguard Group Inc. now owns 901,760 shares of the financial services provider’s stock valued at $19,884,000 after buying an additional 28,945 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of MainSource Financial Group by 2.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 705,892 shares of the financial services provider’s stock valued at $15,565,000 after buying an additional 19,089 shares during the period. BlackRock Fund Advisors boosted its position in shares of MainSource Financial Group by 7.9% in the second quarter. BlackRock Fund Advisors now owns 594,126 shares of the financial services provider’s stock valued at $13,100,000 after buying an additional 43,672 shares during the period. Finally, State Street Corp boosted its position in shares of MainSource Financial Group by 1.8% in the second quarter. State Street Corp now owns 402,868 shares of the financial services provider’s stock valued at $8,880,000 after buying an additional 7,255 shares during the period. Institutional investors own 54.30% of the company’s stock.
About MainSource Financial Group
MainSource Financial Group, Inc is a bank holding company. The Company operates a banking subsidiary: MainSource Bank (the Bank), an Indiana state-chartered bank. Through the Bank, the Company offers a range of financial services, including accepting time and transaction deposits; making consumer, commercial, agribusiness and real estate mortgage loans; renting safe deposit facilities; providing personal and corporate trust services, and providing other corporate services, such as letters of credit and repurchase agreements.
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