MidSouth Bancorp (NYSE:MSL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “MIDSOUTH BANCORP, INC. is a bank holding company engaged in general banking business. “
Several other research firms have also recently weighed in on MSL. ValuEngine cut MidSouth Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 4th. Raymond James raised MidSouth Bancorp from an “underperform” rating to a “market perform” rating in a research report on Friday, August 17th. Finally, Sandler O’Neill cut MidSouth Bancorp from a “buy” rating to a “hold” rating and set a $15.00 price objective on the stock. in a research report on Wednesday, August 1st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $16.00.
Shares of MidSouth Bancorp stock opened at $13.51 on Tuesday. MidSouth Bancorp has a 12-month low of $11.90 and a 12-month high of $16.15. The firm has a market cap of $222.64 million, a P/E ratio of -50.04 and a beta of 1.40. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.05.
MidSouth Bancorp (NYSE:MSL) last announced its quarterly earnings results on Tuesday, October 30th. The bank reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.08. MidSouth Bancorp had a positive return on equity of 2.29% and a negative net margin of 16.04%. The business had revenue of $21.56 million during the quarter, compared to the consensus estimate of $21.52 million. On average, equities analysts anticipate that MidSouth Bancorp will post -0.05 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its position in MidSouth Bancorp by 8.3% in the second quarter. Renaissance Technologies LLC now owns 356,600 shares of the bank’s stock worth $4,725,000 after purchasing an additional 27,400 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in MidSouth Bancorp by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 665,401 shares of the bank’s stock worth $8,817,000 after purchasing an additional 49,236 shares during the last quarter. BlackRock Inc. boosted its position in MidSouth Bancorp by 7.6% in the second quarter. BlackRock Inc. now owns 793,339 shares of the bank’s stock worth $10,511,000 after purchasing an additional 55,809 shares during the last quarter. Maltese Capital Management LLC purchased a new position in MidSouth Bancorp in the second quarter worth $611,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in MidSouth Bancorp in the second quarter worth $1,121,000. 61.81% of the stock is currently owned by institutional investors and hedge funds.
About MidSouth Bancorp
MidSouth Bancorp, Inc, a bank holding company, through its subsidiary MidSouth Bank, N.A., provides various community banking products and services to commercial and retail customers in the United States. The company offers various deposit products, including interest-bearing and noninterest-bearing checking accounts, money market, savings accounts, investment accounts, and NOW account deposits, as well as time deposits, such as certificates of deposits; and commercial and industrial, commercial real estate, and consumer loans, as well as other loans secured by real estate.
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