Zacks: MainSource Financial Group, Inc. (MSFG) Receives Consensus Recommendation of “Hold” from Analysts
MainSource Financial Group, Inc. (NASDAQ:MSFG) has been assigned an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three investment analysts have rated the stock with a hold recommendation.
Analysts have set a 12 month consensus price target of $36.00 for the company and are forecasting that the company will post $0.56 EPS for the current quarter, according to Zacks. Zacks has also assigned MainSource Financial Group an industry rank of 87 out of 265 based on the ratings given to its competitors.
Several research firms have recently weighed in on MSFG. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $40.00 target price on shares of MainSource Financial Group in a research note on Wednesday. BidaskClub downgraded shares of MainSource Financial Group from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Finally, Stephens downgraded shares of MainSource Financial Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 26th.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its position in shares of MainSource Financial Group by 1,411.3% in the second quarter. BNP Paribas Arbitrage SA now owns 3,204 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 2,992 shares during the period. Great West Life Assurance Co. Can bought a new position in shares of MainSource Financial Group in the second quarter valued at approximately $147,000. SG Americas Securities LLC bought a new position in shares of MainSource Financial Group in the second quarter valued at approximately $156,000. River Oaks Capital LLC bought a new position in shares of MainSource Financial Group in the second quarter valued at approximately $166,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of MainSource Financial Group in the second quarter valued at approximately $168,000. Institutional investors own 57.75% of the company’s stock.
MainSource Financial Group (MSFG) traded down $0.53 on Friday, hitting $37.68. 48,384 shares of the stock traded hands, compared to its average volume of 99,970. The stock has a market capitalization of $963.93, a P/E ratio of 18.29 and a beta of 0.93. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.89. MainSource Financial Group has a 52-week low of $23.84 and a 52-week high of $38.93.
MainSource Financial Group (NASDAQ:MSFG) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The business had revenue of $50.43 million during the quarter, compared to analysts’ expectations of $54.10 million. MainSource Financial Group had a return on equity of 10.93% and a net margin of 21.86%. research analysts expect that MainSource Financial Group will post 2.11 earnings per share for the current year.
MainSource Financial Group Company Profile
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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