MidSouth Bancorp Inc. (NYSE:MSL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “MIDSOUTH BANCORP, INC. is a bank holding company engaged in general banking business. “
MidSouth Bancorp (NYSE:MSL) traded down 2.68% during midday trading on Friday, hitting $10.18. 9,481 shares of the stock traded hands. The stock has a market cap of $115.67 million, a price-to-earnings ratio of 14.93 and a beta of 1.30. The company has a 50-day moving average price of $10.15 and a 200 day moving average price of $9.85. MidSouth Bancorp has a one year low of $6.51 and a one year high of $11.73.
MidSouth Bancorp (NYSE:MSL) last announced its earnings results on Wednesday, July 27th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. MidSouth Bancorp had a net margin of 8.60% and a return on equity of 4.86%. Equities research analysts anticipate that MidSouth Bancorp will post $0.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Thursday, September 15th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend was Tuesday, September 13th. MidSouth Bancorp’s payout ratio is currently 52.94%.
In related news, CEO C R. Cloutier sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $10.16, for a total transaction of $25,400.00. Following the sale, the chief executive officer now directly owns 271,927 shares of the company’s stock, valued at approximately $2,762,778.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO C R. Cloutier sold 2,600 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $10.22, for a total transaction of $26,572.00. Following the sale, the chief executive officer now directly owns 281,728 shares in the company, valued at $2,879,260.16. The disclosure for this sale can be found here. Corporate insiders own 23.27% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Spark Investment Management LLC acquired a new stake in shares of MidSouth Bancorp during the second quarter valued at $117,000. JPMorgan Chase & Co. increased its stake in shares of MidSouth Bancorp by 88.7% in the second quarter. JPMorgan Chase & Co. now owns 15,320 shares of the company’s stock worth $154,000 after buying an additional 7,200 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of MidSouth Bancorp during the second quarter worth approximately $171,000. Royal Bank of Canada increased its stake in shares of MidSouth Bancorp by 0.6% in the first quarter. Royal Bank of Canada now owns 20,330 shares of the company’s stock worth $155,000 after buying an additional 130 shares in the last quarter. Finally, Guggenheim Capital LLC purchased a new stake in shares of MidSouth Bancorp during the second quarter worth approximately $226,000. 35.10% of the stock is currently 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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