MidSouth Bancorp, Inc. (MSL) to Issue Quarterly Dividend of $0.01 on January 2nd
MidSouth Bancorp, Inc. (NYSE:MSL) announced a quarterly dividend on Wednesday, October 25th, Wall Street Journal reports. Investors of record on Friday, December 15th will be paid a dividend of 0.01 per share by the bank on Tuesday, January 2nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Thursday, December 14th.
MidSouth Bancorp has increased its dividend by an average of 6.3% annually over the last three years. MidSouth Bancorp has a dividend payout ratio of -66.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect MidSouth Bancorp to earn $0.69 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 5.8%.
Shares of MidSouth Bancorp (MSL) opened at $13.65 on Wednesday. MidSouth Bancorp has a 1 year low of $11.05 and a 1 year high of $16.60. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.11.
MidSouth Bancorp (NYSE:MSL) last announced its earnings results on Tuesday, October 24th. The bank reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.01. MidSouth Bancorp had a return on equity of 1.43% and a net margin of 0.94%. The business had revenue of $24.30 million for the quarter, compared to analyst estimates of $23.32 million. research analysts anticipate that MidSouth Bancorp will post -0.06 EPS for the current year.
A number of equities research analysts recently issued reports on MSL shares. Sandler O’Neill reissued a “buy” rating and issued a $14.00 target price on shares of MidSouth Bancorp in a research report on Tuesday, September 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $12.00 price target on shares of MidSouth Bancorp in a research report on Wednesday, October 4th. Finally, Zacks Investment Research raised MidSouth Bancorp from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Wednesday, October 18th. Two research 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 stock currently has an average rating of “Hold” and a consensus target price of $15.33.
In related news, Director C R. Cloutier sold 8,124 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $13.77, for a total value of $111,867.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Clayton Paul Hilliard sold 6,000 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $12.71, for a total value of $76,260.00. Following the completion of the sale, the director now owns 113,785 shares of the company’s stock, valued at $1,446,207.35. The disclosure for this sale can be found here. Insiders have sold a total of 38,364 shares of company stock valued at $507,019 over the last quarter. 19.84% of the stock is currently owned by corporate insiders.
An institutional investor recently bought a new position in MidSouth Bancorp stock. California State Teachers Retirement System purchased a new stake in MidSouth Bancorp, Inc. (NYSE:MSL) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,700 shares of the bank’s stock, valued at approximately $184,000. California State Teachers Retirement System owned 0.09% of MidSouth Bancorp at the end of the most recent reporting period. 56.74% of the stock is owned by hedge funds and other institutional investors.
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MidSouth Bancorp Company 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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