Midland States Bancorp, Inc. (NASDAQ:MSBI – Get Free Report) CEO Jeffrey Ludwig sold 8,383 shares of Midland States Bancorp stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total transaction of $285,022.00. Following the sale, the chief executive officer directly owned 400,971 shares in the company, valued at $13,633,014. The trade was a 2.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Midland States Bancorp Price Performance
MSBI stock opened at $33.67 on Friday. Midland States Bancorp, Inc. has a 1 year low of $14.24 and a 1 year high of $34.35. The company has a market cap of $697.98 million, a P/E ratio of 21.58 and a beta of 0.66. The firm has a 50-day moving average of $30.17 and a 200 day moving average of $25.86. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.
Midland States Bancorp (NASDAQ:MSBI – Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. The business had revenue of $83.74 million during the quarter, compared to analyst estimates of $80.70 million. On average, sell-side analysts forecast that Midland States Bancorp, Inc. will post 3.4 EPS for the current year.
Midland States Bancorp Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, May 15th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 82.05%.
Analyst Ratings Changes
MSBI has been the subject of a number of research reports. DA Davidson increased their price objective on Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday. Weiss Ratings upgraded shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Piper Sandler lifted their price target on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.10.
Get Our Latest Report on Midland States Bancorp
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Midland States Bancorp by 10.1% in the fourth quarter. State Street Corp now owns 682,862 shares of the financial services provider’s stock worth $14,456,000 after acquiring an additional 62,874 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Midland States Bancorp by 38.1% during the second quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock valued at $9,370,000 after acquiring an additional 149,175 shares in the last quarter. Patriot Financial Partners GP II L.P. bought a new position in shares of Midland States Bancorp during the first quarter valued at $9,783,000. Rhino Investment Partners Inc raised its position in shares of Midland States Bancorp by 22.5% in the 1st quarter. Rhino Investment Partners Inc now owns 320,288 shares of the financial services provider’s stock worth $7,146,000 after purchasing an additional 58,754 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Midland States Bancorp by 97.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider’s stock worth $5,046,000 after purchasing an additional 117,422 shares during the last quarter. Institutional investors own 60.93% of the company’s stock.
Midland States Bancorp Company Profile
Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.
The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.
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