Breaking: Is Buying MainSource Financial Group Inc. Here a Winning Strategy?

Breaking: Is Buying MainSource Financial Group Inc. Here a Winning Strategy?

The stock of MainSource Financial Group Inc. (NASDAQ:MSFG) hit a new 52-week high and has $37.29 target or 32.00% above today’s $28.25 share price. The 9 months bullish chart indicates low risk for the $706.93 million company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $37.29 price target is reached, the company will be worth $226.22 million 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. The stock increased 2.54% or $0.7 during the last trading session, hitting $28.25. About 166,264 shares traded hands or 249.71% up from the average. MainSource Financial Group Inc. (NASDAQ:MSFG) has risen 34.19% since April 11, 2016 and is uptrending. It has outperformed by 28.05% the S&P500.

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 stock has “Overweight” rating given by Stephens on Friday, October 2. The firm has “Outperform” rating given on Friday, August 26 by Wood.

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 dived, 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.
Alphamark Advisors Lc holds 626 shares or 0.01% of its portfolio. Nationwide Fund Advisors holds 0.01% of its portfolio in MainSource Financial Group Inc. (NASDAQ:MSFG) for 110,742 shares. Virginia Retirement Systems Et Al holds 0% or 10,450 shares in its portfolio. Swiss Bankshares owns 34,200 shares or 0% of their US portfolio. Ativo Ltd Llc last reported 40,011 shares in the company. United Advisers owns 52,773 shares or 0.01% of their US portfolio. Mesirow Fincl Management last reported 0.02% of its portfolio in the stock. Ladenburg Thalmann Financial Services Incorporated reported 163 shares or 0% of all its holdings. Schwab Charles Investment Mngmt has 0% invested in the company for 81,102 shares. Vanguard Gru Inc, a Pennsylvania-based fund reported 901,760 shares. California Employees Retirement System, a California-based fund reported 54,554 shares. Emerald Mutual Fund Advisers Trust holds 0.05% or 44,420 shares in its portfolio. Clarivest Asset Limited Liability Corp accumulated 0.09% or 131,909 shares. Panagora Asset Mgmt last reported 0.02% of its portfolio in the stock. Moreover, National Bank Of New York Mellon has 0% invested in MainSource Financial Group Inc. (NASDAQ:MSFG) for 133,535 shares.

Insider Transactions: Since June 21, 2016, the stock had 1 buy, and 0 sales for $73,383 net activity. BARRON WILLIAM G had bought 3,130 shares worth $73,383.

More notable recent MainSource Financial Group Inc. (NASDAQ:MSFG) news were published by: Prnewswire.com which released: “MainSource Financial Group Expands Presence in Cincinnati; Completes its …” on May 23, 2016, also Prnewswire.com with their article: “MainSource Financial Group – NASDAQ, MSFG – Announces Third Quarter 2016 …” published on October 26, 2016, Ibj.com published: “PROXY CORNER: MainSource Financial Group Inc.” on July 23, 2016. More interesting news about MainSource Financial Group Inc. (NASDAQ:MSFG) were released by: Prnewswire.com and their article: “MainSource Financial Group Announces Appointment of Vince Berta to Board of …” published on January 28, 2016 as well as Streetinsider.com‘s news article titled: “MainSource Financial Group (MSFG) to Acquire Cheviot Financial Corp (CHEV) for …” with publication date: November 24, 2015.

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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