Northern Trust Corp grew its position in MidSouth Bancorp, Inc. (NYSE:MSL) by 322.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,568 shares of the bank’s stock after purchasing an additional 72,930 shares during the quarter. Northern Trust Corp owned approximately 0.58% of MidSouth Bancorp worth $1,123,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in MSL. Vanguard Group Inc. raised its holdings in shares of MidSouth Bancorp by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 390,598 shares of the bank’s stock valued at $5,976,000 after purchasing an additional 7,844 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of MidSouth Bancorp by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 350,222 shares of the bank’s stock valued at $5,358,000 after purchasing an additional 23,909 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of MidSouth Bancorp in the 1st quarter valued at $515,000. Strs Ohio acquired a new stake in shares of MidSouth Bancorp in the 2nd quarter valued at $360,000. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of MidSouth Bancorp in the 2nd quarter valued at $550,000. Institutional investors and hedge funds own 56.74% of the company’s stock.
In related news, Director Clayton Paul Hilliard sold 6,000 shares of MidSouth Bancorp stock in a transaction on Friday, November 24th. The shares were sold at an average price of $12.71, for a total transaction of $76,260.00. Following the sale, the director now directly owns 113,785 shares in the company, valued at approximately $1,446,207.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director C R. Cloutier sold 6,700 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $13.51, for a total transaction of $90,517.00. Following the transaction, the director now directly owns 220,342 shares in the company, valued at $2,976,820.42. The disclosure for this sale can be found here. Insiders have sold a total of 38,364 shares of company stock worth $507,019 over the last quarter. 19.84% of the stock is owned by company insiders.
MidSouth Bancorp (NYSE:MSL) last announced its quarterly earnings results on Tuesday, October 24th. The bank reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. MidSouth Bancorp had a net margin of 0.94% and a return on equity of 1.43%. The firm had revenue of $24.30 million for the quarter, compared to analyst estimates of $23.32 million. equities analysts expect that MidSouth Bancorp, Inc. will post -0.06 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a dividend of $0.01 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.04 annualized dividend and a yield of 0.30%. MidSouth Bancorp’s dividend payout ratio is currently -21.05%.
A number of equities research analysts have recently weighed in on MSL shares. Sandler O’Neill restated a “buy” rating and issued a $14.00 price objective on shares of MidSouth Bancorp in a report on Tuesday, September 5th. Zacks Investment Research upgraded shares of MidSouth Bancorp from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Wednesday, October 25th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $12.00 price target on shares of MidSouth Bancorp in a research note on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $15.33.
MidSouth Bancorp Profile
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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