MainSource Financial Group Inc. (MSFG) Stake Lowered by Maltese Capital Management LLC
Maltese Capital Management LLC lessened its position in MainSource Financial Group Inc. (NASDAQ:MSFG) by 22.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 250,000 shares of the financial services provider’s stock after selling 70,800 shares during the period. Maltese Capital Management LLC owned approximately 0.98% of MainSource Financial Group worth $8,965,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in MSFG. Macquarie Group Ltd. acquired a new stake in shares of MainSource Financial Group in the 2nd quarter worth $13,785,000. Magnetar Financial LLC acquired a new stake in shares of MainSource Financial Group in the 3rd quarter worth $14,000,000. ARP Americas LLC acquired a new stake in shares of MainSource Financial Group in the 3rd quarter worth $4,308,000. JPMorgan Chase & Co. lifted its stake in shares of MainSource Financial Group by 19.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 526,015 shares of the financial services provider’s stock worth $18,863,000 after acquiring an additional 87,023 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of MainSource Financial Group by 89.2% in the 2nd quarter. First Trust Advisors LP now owns 119,712 shares of the financial services provider’s stock worth $4,012,000 after acquiring an additional 56,453 shares during the period. Institutional investors own 58.26% of the company’s stock.
MainSource Financial Group Inc. (MSFG) opened at $38.69 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 1.20. The stock has a market cap of $990.81, a PE ratio of 18.80 and a beta of 0.92. MainSource Financial Group Inc. has a twelve month low of $30.82 and a twelve month high of $40.67.
MainSource Financial Group (NASDAQ:MSFG) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.01). The company had revenue of $50.43 million during the quarter, compared to analysts’ expectations of $54.10 million. MainSource Financial Group had a net margin of 21.86% and a return on equity of 10.65%. analysts forecast that MainSource Financial Group Inc. will post 2.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Monday, December 4th. This is an increase from MainSource Financial Group’s previous quarterly dividend of $0.17. MainSource Financial Group’s dividend payout ratio (DPR) is currently 18.54%.
Several analysts have recently commented on MSFG shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $40.00 price target on shares of MainSource Financial Group in a report on Wednesday, November 1st. BidaskClub downgraded shares of MainSource Financial Group from a “hold” rating to a “sell” rating in a report on Monday, August 14th.
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MainSource Financial Group 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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