MidSouth Bancorp (MSL) Expected to Post Quarterly Sales of $23.58 Million
Wall Street brokerages expect MidSouth Bancorp (NYSE:MSL) to announce $23.58 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for MidSouth Bancorp’s earnings, with the highest sales estimate coming in at $23.60 million and the lowest estimate coming in at $23.56 million. MidSouth Bancorp reported sales of $23.31 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.2%. The firm is scheduled to issue its next earnings report on Tuesday, January 30th.
On average, analysts expect that MidSouth Bancorp will report full year sales of $23.58 million for the current financial year, with estimates ranging from $93.40 million to $94.43 million. For the next year, analysts anticipate that the company will post sales of $95.04 million per share, with estimates ranging from $93.39 million to $96.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover MidSouth Bancorp.
MidSouth Bancorp (NYSE:MSL) last announced its earnings results on Tuesday, October 24th. The bank reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. MidSouth Bancorp had a net margin of 0.94% and a return on equity of 1.50%. The business had revenue of $24.30 million during the quarter, compared to analysts’ expectations of $23.32 million.
A number of brokerages have recently commented on MSL. Stephens reaffirmed a “buy” rating and issued a $15.00 target price on shares of MidSouth Bancorp in a report on Wednesday, August 2nd. Zacks Investment Research cut shares of MidSouth Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Sandler O’Neill reaffirmed a “buy” rating and issued a $14.00 target price on shares of MidSouth Bancorp in a report on Tuesday, September 5th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $12.00 target price on shares of MidSouth Bancorp in a report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. MidSouth Bancorp has an average rating of “Hold” and an average target price of $15.33.
Shares of MidSouth Bancorp (NYSE:MSL) traded up $0.15 during trading hours on Thursday, hitting $13.50. 24,665 shares of the stock were exchanged, compared to its average volume of 41,705. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be issued 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%.
In related news, Director C R. Cloutier sold 8,124 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $13.77, for a total transaction of $111,867.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 19.84% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Jacobs Asset Management LLC increased its holdings in MidSouth Bancorp by 12.8% in the second quarter. Jacobs Asset Management LLC now owns 752,171 shares of the bank’s stock valued at $8,838,000 after buying an additional 85,430 shares in the last quarter. Vanguard Group Inc. increased its holdings in MidSouth Bancorp by 17.0% in the second quarter. Vanguard Group Inc. now owns 457,161 shares of the bank’s stock valued at $5,372,000 after buying an additional 66,563 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in MidSouth Bancorp by 9.6% in the second quarter. Dimensional Fund Advisors LP now owns 383,844 shares of the bank’s stock valued at $4,510,000 after buying an additional 33,622 shares in the last quarter. Thomson Horstmann & Bryant Inc. purchased a new position in MidSouth Bancorp in the second quarter valued at about $2,643,000. Finally, Ulysses Management LLC purchased a new position in MidSouth Bancorp in the second quarter valued at about $2,351,000. 52.29% of the stock is owned by institutional investors.
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About MidSouth Bancorp
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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