Shares of MidSouth Bancorp Inc. (MSL) 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.
Growth Drivers
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 by 17.86%.
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 total assets.
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. (CCBG), Middleburg Financial Corporation (MBRG) and Popular, Inc. (BPOP). All these stocks sport the same Zacks Rank as MidSouth.
Read the Full Research Report on BPOP
Read the Full Research Report on MBRG
Read the Full Research Report on MSL
Read the Full Research Report on CCBG
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