Magnetar Financial LLC Invests $14 Million in MainSource Financial Group Inc. (MSFG)

Magnetar Financial LLC bought a new position in shares of MainSource Financial Group Inc. (NASDAQ:MSFG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 390,418 shares of the financial services provider’s stock, valued at approximately $14,000,000. Magnetar Financial LLC owned approximately 1.53% of MainSource Financial Group as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MSFG. BNP Paribas Arbitrage SA boosted its position in MainSource Financial Group by 1,411.3% during the second quarter. BNP Paribas Arbitrage SA now owns 3,204 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 2,992 shares during the last quarter. Great West Life Assurance Co. Can acquired a new position in MainSource Financial Group during the second quarter worth about $147,000. SG Americas Securities LLC acquired a new position in MainSource Financial Group during the second quarter worth about $156,000. River Oaks Capital LLC acquired a new position in MainSource Financial Group during the second quarter worth about $166,000. Finally, PNC Financial Services Group Inc. acquired a new position in MainSource Financial Group during the second quarter worth about $168,000. 58.26% of the stock is owned by institutional investors and hedge funds.

MainSource Financial Group Inc. (NASDAQ:MSFG) opened at $38.69 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.20. The firm has a market cap of $990.81, a PE ratio of 18.80 and a beta of 0.92. MainSource Financial Group Inc. has a fifty-two week low of $30.82 and a fifty-two week high of $40.67.

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 firm had revenue of $50.43 million during the quarter, compared to analyst estimates of $54.10 million. MainSource Financial Group had a net margin of 21.86% and a return on equity of 10.65%. equities research analysts predict that MainSource Financial Group Inc. will post 2.11 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, December 5th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.86%. This is a positive change from MainSource Financial Group’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, December 4th. MainSource Financial Group’s payout ratio is presently 18.54%.

A number of research firms recently weighed in on MSFG. BidaskClub lowered shares of MainSource Financial Group from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $40.00 target price on shares of MainSource Financial Group in a report on Wednesday, November 1st.

ILLEGAL ACTIVITY WARNING: “Magnetar Financial LLC Invests $14 Million in MainSource Financial Group Inc. (MSFG)” was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://www.com-unik.info/2017/12/07/magnetar-financial-llc-invests-14-million-in-mainsource-financial-group-inc-msfg.html.

About MainSource Financial Group

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.

Want to see what other hedge funds are holding MSFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MainSource Financial Group Inc. (NASDAQ:MSFG).

Institutional Ownership by Quarter for MainSource Financial Group (NASDAQ:MSFG)

What are top analysts saying about MainSource Financial Group Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for MainSource Financial Group Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit