Schwab Charles Investment Management Inc. increased its holdings in MainSource Financial Group Inc. (NASDAQ:MSFG) by 10.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,253 shares of the financial services provider’s stock after acquiring an additional 11,364 shares during the period. Schwab Charles Investment Management Inc. owned about 0.48% of MainSource Financial Group worth $4,384,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp increased its stake in MainSource Financial Group by 9.8% in the 2nd quarter. State Street Corp now owns 474,457 shares of the financial services provider’s stock valued at $15,898,000 after buying an additional 42,529 shares during the last quarter. Macquarie Group Ltd. increased its stake in MainSource Financial Group by 42.9% in the 3rd quarter. Macquarie Group Ltd. now owns 587,676 shares of the financial services provider’s stock valued at $21,074,000 after buying an additional 176,297 shares during the last quarter. ARP Americas LLC purchased a new stake in MainSource Financial Group in the 3rd quarter valued at about $4,308,000. Swiss National Bank increased its stake in MainSource Financial Group by 6.9% in the 2nd quarter. Swiss National Bank now owns 40,100 shares of the financial services provider’s stock valued at $1,344,000 after buying an additional 2,600 shares during the last quarter. Finally, Ameriprise Financial Inc. bought a new position in shares of MainSource Financial Group during the 2nd quarter valued at approximately $468,000. Institutional investors own 57.99% of the company’s stock.
MSFG has been the subject of a number of research reports. Keefe, Bruyette & Woods reissued a “hold” rating and set a $40.00 target price on shares of MainSource Financial Group in a research report on Wednesday, November 1st. BidaskClub downgraded shares of MainSource Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, Zacks Investment Research raised shares of MainSource Financial Group from a “hold” rating to a “strong-buy” rating and set a $43.00 target price for the company in a research report on Saturday, December 30th.
MainSource Financial Group (NASDAQ:MSFG) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.54 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.01). MainSource Financial Group had a net margin of 21.86% and a return on equity of 10.65%. The company had revenue of $50.43 million for the quarter, compared to the consensus estimate of $54.10 million. sell-side analysts anticipate that MainSource Financial Group Inc. will post 2.09 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th were given a dividend of $0.18 per share. This is an increase from MainSource Financial Group’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date was Monday, December 4th. MainSource Financial Group’s dividend payout ratio is currently 18.54%.
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.
Receive News & Ratings for MainSource Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MainSource Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.