First Manhattan Co. increased its stake in MidSouth Bancorp, Inc. (NYSE:MSL) by 49.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,500 shares of the bank’s stock after purchasing an additional 7,400 shares during the period. First Manhattan Co. owned 0.14% of MidSouth Bancorp worth $271,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thomson Horstmann & Bryant Inc. bought a new stake in MidSouth Bancorp during the 2nd quarter valued at $2,643,000. Ulysses Management LLC bought a new stake in MidSouth Bancorp during the 2nd quarter valued at $2,351,000. M3F Inc. bought a new stake in MidSouth Bancorp during the 2nd quarter valued at $1,421,000. State Street Corp bought a new stake in MidSouth Bancorp during the 2nd quarter valued at $1,164,000. Finally, Jacobs Asset Management LLC raised its stake in MidSouth Bancorp by 12.8% during the 2nd quarter. Jacobs Asset Management LLC now owns 752,171 shares of the bank’s stock valued at $8,838,000 after acquiring an additional 85,430 shares in the last quarter. 52.29% of the stock is currently owned by institutional investors and hedge funds.
In other MidSouth Bancorp news, Director C R. Cloutier sold 8,124 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $13.77, for a total value of $111,867.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 19.84% of the stock is owned by insiders.
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Several analysts have weighed in on MSL shares. Stephens reaffirmed a “buy” rating and set a $15.00 target price on shares of MidSouth Bancorp in a research note on Wednesday, August 2nd. Sandler O’Neill reaffirmed a “buy” rating and set a $14.00 target price on shares of MidSouth Bancorp in a research note on Tuesday, September 5th. Zacks Investment Research raised MidSouth Bancorp from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Wednesday, October 18th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $12.00 target price on shares of MidSouth Bancorp in a research note on Wednesday, October 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. MidSouth Bancorp has an average rating of “Hold” and a consensus target price of $15.33.
MidSouth Bancorp, Inc. (MSL) opened at $13.50 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82.
MidSouth Bancorp (NYSE:MSL) last issued its quarterly earnings data on Tuesday, October 24th. The bank reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.01. MidSouth Bancorp had a net margin of 6.86% and a return on equity of 1.41%. The business had revenue of $24.30 million during the quarter, compared to the consensus estimate of $23.32 million. analysts forecast that MidSouth Bancorp, Inc. will post -0.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Friday, December 15th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Thursday, December 14th. MidSouth Bancorp’s payout ratio is -21.05%.
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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