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.
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.
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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.
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