MidSouth Bancorp Inc.
) reached a new 52-week high, touching $19.65 on Jun 26, reflecting
a solid year-to-date return of 12.2%. The trading volume for the
session was 44,056 shares.
Despite hitting its 52-week high, this Zacks Rank #1 (Strong Buy)
stock has plenty of upside left, given its strong estimate
revisions over the last 60 days and expected year-over-year
earnings growth of 21.24%. The company has delivered an average
positive earnings surprise of 7.66% in the trailing four quarters.
Strong capital deployment activities and first-quarter 2014 results
including a rise in the top line, a healthy capital position and
modestly improved credit quality were the primary growth drivers
for MidSouth Bancorp.
On May 21, MidSouth Bancorp announced an increased quarterly
dividend of 9 cents per share. The new dividend reflects a 12.5%
hike over the prior-quarter's dividend and will be paid on Jul 1,
2014, to all shareholders of record as of Jun 13, 2014.
MidSouth Bancorp came out with operating earnings of 33 cents per
share on Apr 29, beating the Zacks Consensus Estimate by 22.22%.
The reported figure also surpassed the prior-year quarter earnings
Results were aided by a 17.5% rise in net revenues, partially
offset by a 1.7% rise in non-interest expenses. Further, the
quarter witnessed an increase in loans and leases along with higher
Estimate Revisions Show Potency
Over the last 60 days, the Zacks Consensus Estimate for 2014 has
gone up 13.2% to $1.37 per share. For 2015, the estimate rose
around 7.1% to $1.50 per share over the same time frame.
Other Southeast banks worth considering include
Capital City Bank Group Inc.
Middleburg Financial Corporation
). All these stocks sport the same Zacks Rank as MidSouth.
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