MainSource Financial Group, Inc. (MSFG) Raised to Hold at Zacks Investment Research

MainSource Financial Group, Inc. (NASDAQ:MSFG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, July 5th.

According to Zacks, “MainSource Financial Group, Inc. is a community-focused, multi-bank, financial services oriented holding company. “

Shares of MainSource Financial Group (MSFG) traded up 2.03% during midday trading on Wednesday, reaching $35.62. 316,740 shares of the company’s stock traded hands. The stock has a 50 day moving average of $33.67 and a 200-day moving average of $33.30. The stock has a market cap of $910.98 million, a P/E ratio of 20.59 and a beta of 0.91. MainSource Financial Group has a 12 month low of $21.82 and a 12 month high of $37.20.

MainSource Financial Group (NASDAQ:MSFG) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. MainSource Financial Group had a net margin of 22.93% and a return on equity of 10.96%. The business had revenue of $49.04 million during the quarter, compared to analyst estimates of $46.40 million. On average, equities research analysts forecast that MainSource Financial Group will post $2.12 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its stake in MainSource Financial Group by 0.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,850 shares of the financial services provider’s stock valued at $456,000 after buying an additional 68 shares during the period. Dalton Greiner Hartman Maher & Co. increased its stake in MainSource Financial Group by 0.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 79,955 shares of the financial services provider’s stock valued at $2,633,000 after buying an additional 312 shares during the period. TIAA CREF Investment Management LLC increased its stake in MainSource Financial Group by 0.4% in the first quarter. TIAA CREF Investment Management LLC now owns 83,492 shares of the financial services provider’s stock valued at $2,749,000 after buying an additional 368 shares during the period. Strs Ohio increased its stake in MainSource Financial Group by 2.1% in the second quarter. Strs Ohio now owns 24,500 shares of the financial services provider’s stock valued at $820,000 after buying an additional 500 shares during the period. Finally, Teachers Advisors LLC increased its stake in MainSource Financial Group by 1.9% in the first quarter. Teachers Advisors LLC now owns 38,884 shares of the financial services provider’s stock valued at $1,280,000 after buying an additional 742 shares during the period. 54.82% of the stock is owned by institutional investors.

MainSource Financial Group Company Profile

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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