Zacks Investment Research Upgrades MidSouth Bancorp (MSL) to “Hold”

MidSouth Bancorp (NYSE:MSL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, August 9th.

According to Zacks, “MIDSOUTH BANCORP, INC. is a bank holding company engaged in general banking business. “

MSL has been the topic of several other reports. Stephens reiterated a “buy” rating and issued a $15.00 price target on shares of MidSouth Bancorp in a research report on Wednesday, August 2nd. Hovde Group decreased their price target on shares of MidSouth Bancorp from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, June 8th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of MidSouth Bancorp in a research report on Friday, June 9th. UBS AG downgraded shares of MidSouth Bancorp to an “underperform” rating in a research report on Friday, June 9th. Finally, TheStreet cut shares of MidSouth Bancorp from a “b-” rating to a “c” rating in a research note on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $17.00.

Shares of MidSouth Bancorp (NYSE MSL) remained flat at $11.15 during trading on Wednesday. 41,466 shares of the stock were exchanged. The stock’s 50-day moving average is $11.52 and its 200 day moving average is $13.42. MidSouth Bancorp has a one year low of $9.52 and a one year high of $16.60. The firm’s market capitalization is $184.45 million.

MidSouth Bancorp (NYSE:MSL) last released its quarterly earnings results on Tuesday, July 25th. The bank reported ($0.38) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.06. MidSouth Bancorp had a net margin of 1.69% and a return on equity of 1.73%. The business had revenue of $23.47 million for the quarter, compared to the consensus estimate of $23.50 million. Equities analysts predict that MidSouth Bancorp will post ($0.10) EPS for the current year.

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In other news, Chairman Jake Delhomme acquired 2,500 shares of MidSouth Bancorp stock in a transaction dated Thursday, June 8th. The stock was purchased at an average cost of $12.00 per share, with a total value of $30,000.00. Following the completion of the purchase, the chairman now directly owns 34,150 shares in the company, valued at approximately $409,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director R Glenn Pumpelly acquired 5,000 shares of MidSouth Bancorp stock in a transaction dated Thursday, June 8th. The stock was purchased at an average cost of $12.00 per share, with a total value of $60,000.00. Following the completion of the purchase, the director now owns 95,473 shares of the company’s stock, valued at $1,145,676. The disclosure for this purchase can be found here. Over the last three months, insiders bought 13,250 shares of company stock valued at $159,000. Corporate insiders own 19.84% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Thomson Horstmann & Bryant Inc. bought a new position in MidSouth Bancorp during the second quarter valued at $2,643,000. Ulysses Management LLC bought a new position in MidSouth Bancorp during the second quarter valued at $2,351,000. M3F Inc. bought a new position in MidSouth Bancorp during the second quarter valued at $1,421,000. State Street Corp bought a new position in MidSouth Bancorp during the second quarter valued at $1,164,000. Finally, Jacobs Asset Management LLC boosted its position 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 during the last quarter. 28.25% of the stock is owned by institutional investors.

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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