Acadiana Business

MidSouth stock upgraded ahead of earnings release

by Heather Miller

TheStreet upgraded MidSouth Bank's stock from hold' to buy' status due to anticipated increased earnings this year, while last week two financial firms downgraded IberiaBank's stock from buy' to hold' status, citing first-quarter earning reports and expected increases in expenses for the Lafayette-based bank. Online financial media analyst TheStreet has upgraded MidSouth Bank's stock from "hold" to "buy" status ahead of its first-quarter earnings report, citing increased revenues and market predictions that the Lafayette-based bank will reverse its pattern of lowered earnings per share.

According to TheStreet, MidSouth's revenue growth is ahead of the industry average curve of 1.1 percent, and its profit margins are also deemed "very high."

"The company's strengths can be seen in multiple areas," TheStreet says in its analysis. "We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

MidSouth's first-quarter earnings are expected to be released Tuesday.

Meanwhile, financial firms Stifel Nicolaus and Wunderlich last week downgraded IberiaBank's stock from "buy" to "hold" status, citing first-quarter earnings and earnings per share estimates. IberiaBank released its first-quarter earnings report on Wednesday of last week.

"[Analysts are] expecting continued margin pressure, lower levels of fee income, and elevated operating expenses, as were seen in this quarter's results," stock market news site Seeking Alpha says in a recent report.

Read more on MidSouth here and more on IberiaBank here.