JPMorgan Chase & Co. cut its position in MainSource Financial Group Inc. (NASDAQ:MSFG) by 3.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 426,548 shares of the financial services provider’s stock after selling 15,225 shares during the period. JPMorgan Chase & Co. owned approximately 1.78% of MainSource Financial Group worth $9,405,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Kennedy Capital Management Inc. boosted its position in shares of MainSource Financial Group by 28.5% in the first quarter. Kennedy Capital Management Inc. now owns 169,264 shares of the financial services provider’s stock worth $3,570,000 after buying an additional 37,564 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of MainSource Financial Group by 5.4% in the second quarter. California State Teachers Retirement System now owns 48,377 shares of the financial services provider’s stock worth $1,067,000 after buying an additional 2,500 shares during the last quarter. Creative Planning boosted its position in shares of MainSource Financial Group by 31.1% in the second quarter. Creative Planning now owns 186,842 shares of the financial services provider’s stock worth $4,120,000 after buying an additional 44,342 shares during the last quarter. Hillcrest Asset Management LLC purchased a new position in shares of MainSource Financial Group during the first quarter worth approximately $4,297,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of MainSource Financial Group during the second quarter worth approximately $294,000. 54.30% of the stock is owned by institutional investors.
MainSource Financial Group Inc. (NASDAQ:MSFG) traded up 0.98% during midday trading on Thursday, hitting $25.71. The company had a trading volume of 28,148 shares. MainSource Financial Group Inc. has a 52-week low of $19.46 and a 52-week high of $25.71. The stock’s 50-day moving average price is $23.92 and its 200-day moving average price is $22.42. The stock has a market cap of $617.19 million, a PE ratio of 17.28 and a beta of 0.92.
MainSource Financial Group (NASDAQ:MSFG) last issued its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. MainSource Financial Group had a return on equity of 9.32% and a net margin of 19.76%. On average, equities research analysts expect that MainSource Financial Group Inc. will post $1.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were issued a $0.15 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.60 annualized dividend and a yield of 2.36%. MainSource Financial Group’s dividend payout ratio (DPR) is presently 39.74%.
A number of equities analysts have commented on the company. Keefe, Bruyette & Woods increased their target price on MainSource Financial Group from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, August 26th. Zacks Investment Research cut MainSource Financial Group from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th.
In other news, Director William G. Barron acquired 3,130 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was acquired at an average cost of $23.45 per share, for a total transaction of $73,398.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.49% of the stock is owned by company insiders.
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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