MidSouth Bancorp, Inc. to Issue Quarterly Dividend of $0.01 (MSL)

MidSouth Bancorp, Inc. (NYSE:MSL) declared a quarterly dividend on Friday, November 30th, Wall Street Journal reports. Shareholders of record on Monday, December 17th will be paid a dividend of 0.01 per share by the bank on Wednesday, January 2nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Thursday, December 13th.

MidSouth Bancorp has decreased its dividend by an average of 6.3% annually over the last three years. MidSouth Bancorp has a payout ratio of 80.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect MidSouth Bancorp to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 9.1%.

NYSE:MSL traded down $0.08 during trading hours on Friday, reaching $13.22. 36,792 shares of the company traded hands, compared to its average volume of 33,750. The stock has a market capitalization of $221.66 million, a price-to-earnings ratio of -48.96 and a beta of 1.40. MidSouth Bancorp has a 1 year low of $12.15 and a 1 year high of $16.15.

MidSouth Bancorp (NYSE:MSL) last posted its quarterly earnings results on Tuesday, October 30th. The bank reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.08. MidSouth Bancorp had a positive return on equity of 2.32% and a negative net margin of 16.04%. The firm had revenue of $21.56 million during the quarter, compared to analysts’ expectations of $21.52 million. Sell-side analysts predict that MidSouth Bancorp will post 0.13 EPS for the current fiscal year.

MSL has been the subject of several recent analyst reports. Zacks Investment Research upgraded MidSouth Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Thursday, October 11th. ValuEngine cut MidSouth Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. FIG Partners cut MidSouth Bancorp from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Raymond James upgraded MidSouth Bancorp from an “underperform” rating to a “market perform” rating in a research note on Friday, August 17th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $16.00.

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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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Dividend History for MidSouth Bancorp (NYSE:MSL)

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