Zacks Investment Research Upgrades MidSouth Bancorp (NYSE:MSL) to Buy

MidSouth Bancorp (NYSE:MSL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, October 18th. The firm currently has a $14.00 target price on the bank’s stock. Zacks Investment Research‘s target price points to a potential upside of 4.48% from the stock’s previous close.

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

Several other equities analysts have also commented on the company. Sandler O’Neill reiterated a “buy” rating and set a $14.00 price objective on shares of MidSouth Bancorp in a research report on Tuesday, September 5th. Stephens reiterated a “buy” rating and set a $15.00 price objective on shares of MidSouth Bancorp in a research report on Wednesday, August 2nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $12.00 price target on shares of MidSouth Bancorp in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $15.33.

Shares of MidSouth Bancorp (MSL) traded down $0.10 during midday trading on Wednesday, reaching $13.40. The company’s stock had a trading volume of 22,020 shares, compared to its average volume of 41,741. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

MidSouth Bancorp (NYSE:MSL) last announced its quarterly earnings data on Tuesday, October 24th. The bank reported $0.07 EPS for the quarter, beating the consensus estimate of $0.06 by $0.01. The firm had revenue of $24.30 million for the quarter, compared to analyst estimates of $23.32 million. MidSouth Bancorp had a return on equity of 1.50% and a net margin of 0.94%. equities analysts predict that MidSouth Bancorp will post -0.06 earnings per share for the current fiscal year.

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In other news, Director C R. Cloutier sold 8,124 shares of the firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders sold 11,524 shares of company stock valued at $157,820. 19.84% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MSL. Thomson Horstmann & Bryant Inc. purchased a new position in shares of MidSouth Bancorp in the 2nd quarter valued at approximately $2,643,000. Ulysses Management LLC purchased a new position in shares of MidSouth Bancorp in the 2nd quarter valued at approximately $2,351,000. M3F Inc. bought a new position in MidSouth Bancorp during the 2nd quarter valued at approximately $1,421,000. State Street Corp bought a new position in MidSouth Bancorp during the 2nd quarter valued at approximately $1,164,000. Finally, Jacobs Asset Management LLC increased its position in MidSouth Bancorp by 12.8% during the 2nd 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. Institutional investors own 52.34% of the company’s stock.

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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Analyst Recommendations for MidSouth Bancorp (NYSE:MSL)

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