Analysts Set $25.75 Target Price for MainSource Financial Group Inc. (NASDAQ:MSFG)
MainSource Financial Group Inc. (NASDAQ:MSFG) has been assigned an average broker rating score of 2.50 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has issued a buy rating on the company. MainSource Financial Group’s rating score has improved by 16.7% from three months ago as a result of various analysts’ upgrades and downgrades.
Brokers have set a 1 year consensus price target of $25.75 for the company and are predicting that the company will post $0.49 earnings per share for the current quarter, according to Zacks. Zacks has also given MainSource Financial Group an industry rank of 157 out of 265 based on the ratings given to related companies.
A number of analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on MainSource Financial Group from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, August 26th. Zacks Investment Research lowered MainSource Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th.
MainSource Financial Group (NASDAQ:MSFG) opened at 25.58 on Wednesday. The company’s 50-day moving average price is $24.09 and its 200 day moving average price is $22.47. The stock has a market capitalization of $614.07 million, a P/E ratio of 17.19 and a beta of 0.92. MainSource Financial Group has a 52-week low of $19.46 and a 52-week high of $25.76.
MainSource Financial Group (NASDAQ:MSFG) last posted its earnings results on Wednesday, July 27th. The financial services provider reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. MainSource Financial Group had a return on equity of 9.32% and a net margin of 19.76%. On average, equities research analysts predict that MainSource Financial Group will post $1.82 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.60 dividend on an annualized basis and a yield of 2.35%. MainSource Financial Group’s dividend payout ratio is currently 39.74%.
In other MainSource Financial Group news, Director William G. Barron purchased 3,130 shares of MainSource Financial Group stock in a transaction dated Monday, August 29th. The shares were acquired at an average cost of $23.45 per share, with a total value of $73,398.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.49% of the company’s stock.
Several institutional investors have recently modified their holdings of MSFG. BlackRock Inc. increased its position in shares of MainSource Financial Group by 209.8% in the second quarter. BlackRock Inc. now owns 5,465 shares of the financial services provider’s stock worth $120,000 after buying an additional 3,701 shares during the last quarter. Eqis Capital Management Inc. acquired a new position in shares of MainSource Financial Group during the second quarter worth about $218,000. Virginia Retirement Systems ET AL acquired a new position in shares of MainSource Financial Group during the second quarter worth about $230,000. Highbridge Capital Management LLC acquired a new position in shares of MainSource Financial Group during the second quarter worth about $239,000. Finally, BlackRock Advisors LLC increased its position in shares of MainSource Financial Group by 13.8% in the second quarter. BlackRock Advisors LLC now owns 11,690 shares of the financial services provider’s stock worth $258,000 after buying an additional 1,422 shares during the last quarter. 54.30% of the stock is currently owned by institutional investors and hedge funds.
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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