MainSource Financial Group (NASDAQ:MSFG) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday, March 21st.
Several other equities research analysts have also commented on the company. Zacks Investment Research upgraded MainSource Financial Group from a “hold” rating to a “strong-buy” rating and set a $43.00 price objective for the company in a research note on Saturday, December 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $44.50 price objective on shares of MainSource Financial Group in a research note on Friday, December 22nd.
Shares of MainSource Financial Group stock traded up $1.11 on Wednesday, hitting $40.65. The company’s stock had a trading volume of 573,800 shares, compared to its average volume of 106,105. MainSource Financial Group has a 1 year low of $31.26 and a 1 year high of $41.07. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.08. The firm has a market cap of $1,040.83, a PE ratio of 19.17 and a beta of 0.88.
MainSource Financial Group (NASDAQ:MSFG) last posted its quarterly earnings data on Friday, January 26th. The financial services provider reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). MainSource Financial Group had a return on equity of 10.64% and a net margin of 23.33%. The firm had revenue of $51.48 million for the quarter. sell-side analysts expect that MainSource Financial Group will post 2.62 EPS for the current year.
In related news, Director Vince Berta bought 1,000 shares of the stock in a transaction dated Monday, February 5th. The shares were acquired at an average cost of $38.20 per share, for a total transaction of $38,200.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Chris M. Harrison sold 4,106 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $39.71, for a total value of $163,049.26. Following the transaction, the executive vice president now owns 10,605 shares in the company, valued at $421,124.55. The disclosure for this sale can be found here. 4.79% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of MainSource Financial Group by 197.5% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,508 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 2,329 shares during the last quarter. Wolverine Asset Management LLC lifted its holdings in MainSource Financial Group by 158.8% in the fourth quarter. Wolverine Asset Management LLC now owns 4,614 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 2,831 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in MainSource Financial Group in the fourth quarter valued at approximately $202,000. Aperio Group LLC acquired a new position in MainSource Financial Group in the fourth quarter valued at approximately $203,000. Finally, Suntrust Banks Inc. acquired a new position in MainSource Financial Group in the fourth quarter valued at approximately $211,000. Institutional investors and hedge funds own 58.53% of the company’s stock.
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About MainSource Financial Group
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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