The stock of MainSource Financial Group Inc. (NASDAQ:MSFG) hit a new 52-week high and has $35.17 target or 36.00% above today’s $25.86 share price. The 9 months bullish chart indicates low risk for the $616.23 million company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $35.17 price target is reached, the company will be worth $221.84M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 26,167 shares traded hands. MainSource Financial Group Inc. (NASDAQ:MSFG) has risen 20.30% since March 16, 2016 and is uptrending. It has outperformed by 14.76% the S&P500.
Analysts await MainSource Financial Group Inc. (NASDAQ:MSFG) to report earnings on October, 27. They expect $0.49 earnings per share, up 16.67% or $0.07 from last year’s $0.42 per share. MSFG’s profit will be $11.68M for 13.19 P/E if the $0.49 EPS becomes a reality. After $0.46 actual earnings per share reported by MainSource Financial Group Inc. for the previous quarter, Wall Street now forecasts 6.52% EPS growth.
MainSource Financial Group Inc. (NASDAQ:MSFG) Ratings Coverage
Out of 2 analysts covering Mainsource Financial Groups (NASDAQ:MSFG), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Mainsource Financial Groups has been the topic of 2 analyst reports since October 2, 2015 according to StockzIntelligence Inc. The company was initiated on Friday, October 2 by Stephens. Wood maintained the shares of MSFG in a report on Friday, August 26 with “Outperform” rating.
According to Zacks Investment Research, “MainSource Financial Group, Inc. is a community-focused, multi-bank, financial services oriented holding company.”
Insitutional Activity: The institutional sentiment decreased to 1.33 in 2016 Q2. Its down 0.08, from 1.41 in 2016Q1. The ratio worsened, as 6 funds sold all MainSource Financial Group Inc. shares owned while 33 reduced positions. 13 funds bought stakes while 39 increased positions. They now own 12.90 million shares or 5.72% more from 12.20 million shares in 2016Q1.
California Public Employees Retirement Sys reported 54,554 shares or 0% of all its holdings. Mesirow Fincl Mgmt accumulated 0.02% or 11,933 shares. Martingale Asset Limited Partnership accumulated 0.02% or 42,280 shares. Northern has invested 0% of its portfolio in MainSource Financial Group Inc. (NASDAQ:MSFG). Amer has 13,281 shares for 0% of their US portfolio. Regions Financial has 0.04% invested in the company for 147,533 shares. Parametric Limited owns 79,413 shares or 0% of their US portfolio. Nordea Management accumulated 75,521 shares or 0% of the stock. Bridgeway Cap Mgmt Inc holds 0.04% of its portfolio in MainSource Financial Group Inc. (NASDAQ:MSFG) for 109,625 shares. Creative Planning holds 186,842 shares or 0.03% of its portfolio. Moreover, Stieven Cap L P has 0.23% invested in MainSource Financial Group Inc. (NASDAQ:MSFG) for 36,800 shares. Hillcrest Asset Management Ltd Co has 203,411 shares for 1.13% of their US portfolio. Smith Asset Management Group Limited Partnership holds 0% or 1,186 shares in its portfolio. Menta Limited, a California-based fund reported 24,637 shares. Pl Capital Ltd Com holds 1.74% of its portfolio in MainSource Financial Group Inc. (NASDAQ:MSFG) for 231,616 shares.
Insider Transactions: Since June 21, 2016, the stock had 1 insider buy, and 0 selling transactions for $73,383 net activity. BARRON WILLIAM G also bought $73,383 worth of MainSource Financial Group Inc. (NASDAQ:MSFG) shares.
More important recent MainSource Financial Group Inc. (NASDAQ:MSFG) news were published by: Ibj.com which released: “PROXY CORNER: MainSource Financial Group Inc.” on July 23, 2016, also Prnewswire.com published article titled: “MainSource Financial Group Announces Appointment of Vince Berta to Board of …”, Streetinsider.com published: “MainSource Financial Group (MSFG) to Acquire Cheviot Financial Corp (CHEV) for …” on November 24, 2015. More interesting news about MainSource Financial Group Inc. (NASDAQ:MSFG) was released by: Prnewswire.com and their article: “MainSource Financial Group Expands Presence in Cincinnati; Completes its …” with publication date: May 23, 2016.
MSFG Company Profile
MainSource Financial Group, Inc., incorporated on March 30, 1983, is a bank holding company. The Firm 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. The Firm operates approximately 80 branch banking offices in Indiana, Illinois, Ohio and Kentucky.
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