MidSouth Bancorp (NYSE:MSL) Given Buy Rating at Stephens
MidSouth Bancorp (NYSE:MSL)‘s stock had its “buy” rating reiterated by research analysts at Stephens in a note issued to investors on Wednesday. They presently have a $15.00 price objective on the bank’s stock. Stephens’ price objective would indicate a potential upside of 33.33% from the company’s previous close.
Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded MidSouth Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Hovde Group dropped their price target on MidSouth Bancorp from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, June 8th. Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of MidSouth Bancorp in a research note on Friday, June 9th. UBS AG downgraded MidSouth Bancorp to an “underperform” rating in a research note on Friday, June 9th. Finally, TheStreet downgraded MidSouth Bancorp from a “b-” rating to a “c” rating in a research note on Monday, June 12th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $17.00.
MidSouth Bancorp (MSL) traded down 0.44% on Wednesday, hitting $11.20. 2,771 shares of the stock traded hands. The stock has a 50-day moving average of $11.67 and a 200-day moving average of $13.68. The firm’s market cap is $179.49 million. MidSouth Bancorp has a 12-month low of $9.52 and a 12-month high of $16.60.
MidSouth Bancorp (NYSE:MSL) last announced its earnings results on Tuesday, July 25th. The bank reported ($0.38) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.44) by $0.06. The company had revenue of $23.47 million during the quarter, compared to analysts’ expectations of $23.50 million. MidSouth Bancorp had a net margin of 1.69% and a return on equity of 1.84%. Analysts forecast that MidSouth Bancorp will post $0.01 earnings per share for the current year.
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In other MidSouth Bancorp news, Chairman Jake Delhomme bought 2,500 shares of the stock in a transaction on Thursday, June 8th. The stock was purchased at an average price of $12.00 per share, with a total value of $30,000.00. Following the completion of the purchase, the chairman now owns 34,150 shares in the company, valued at $409,800. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director R Glenn Pumpelly bought 5,000 shares of the stock in a transaction on Thursday, June 8th. The shares were acquired at an average cost of $12.00 per share, with a total value of $60,000.00. Following the purchase, the director now owns 95,473 shares of the company’s stock, valued at approximately $1,145,676. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 13,250 shares of company stock valued at $159,000. 23.27% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MSL. Acrospire Investment Management LLC increased its position in shares of MidSouth Bancorp by 71.5% in the third quarter. Acrospire Investment Management LLC now owns 11,358 shares of the bank’s stock valued at $118,000 after buying an additional 4,734 shares during the last quarter. Royal Bank of Canada increased its position in shares of MidSouth Bancorp by 0.6% in the first quarter. Royal Bank of Canada now owns 20,330 shares of the bank’s stock valued at $155,000 after buying an additional 130 shares during the last quarter. Segantii Capital Management Ltd increased its position 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 valued at $155,000 after buying an additional 8,351 shares during the last quarter. Spark Investment Management LLC increased its position in shares of MidSouth Bancorp by 32.5% in the second quarter. Spark Investment Management LLC now owns 15,100 shares of the bank’s stock valued at $177,000 after buying an additional 3,700 shares during the last quarter. Finally, First Manhattan Co. acquired a new position in shares of MidSouth Bancorp during the second quarter valued at approximately $177,000. 27.01% of the stock is owned by hedge funds and other institutional investors.
About MidSouth Bancorp
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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