Midland States Bancorp (MSBI) Hits New 52-Week Low at $23.05

Shares of Midland States Bancorp Inc (NASDAQ:MSBI) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $23.05 and last traded at $23.20, with a volume of 1521 shares. The stock had previously closed at $23.69.

Several research firms have recently issued reports on MSBI. Zacks Investment Research lowered shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. ValuEngine lowered shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Finally, BidaskClub lowered shares of Midland States Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 4th.

The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $556.11 million, a PE ratio of 11.67, a price-to-earnings-growth ratio of 1.37 and a beta of 1.33.

Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Friday, October 26th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Midland States Bancorp had a net margin of 9.27% and a return on equity of 9.01%. The firm had revenue of $63.35 million during the quarter, compared to analyst estimates of $66.90 million. As a group, equities analysts expect that Midland States Bancorp Inc will post 2.45 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Monday, November 19th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, November 16th. This represents a $0.88 annualized dividend and a dividend yield of 3.79%. Midland States Bancorp’s payout ratio is 44.22%.

In related news, CEO Leon J. Holschbach sold 2,000 shares of the stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $25.64, for a total transaction of $51,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jeffrey A. Brunoehler sold 2,822 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $32.03, for a total transaction of $90,388.66. Following the transaction, the senior vice president now owns 31,584 shares of the company’s stock, valued at approximately $1,011,635.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,160 shares of company stock valued at $1,162,974. Company insiders own 14.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Midland States Bancorp by 1.5% during the third quarter. BlackRock Inc. now owns 1,354,678 shares of the financial services provider’s stock valued at $43,485,000 after buying an additional 19,792 shares during the period. FMR LLC grew its position in Midland States Bancorp by 0.3% during the third quarter. FMR LLC now owns 1,063,019 shares of the financial services provider’s stock valued at $34,123,000 after buying an additional 2,766 shares during the period. Vanguard Group Inc. grew its position in Midland States Bancorp by 3.0% during the third quarter. Vanguard Group Inc. now owns 835,884 shares of the financial services provider’s stock valued at $26,831,000 after buying an additional 24,101 shares during the period. Bank of New York Mellon Corp grew its position in Midland States Bancorp by 0.6% during the third quarter. Bank of New York Mellon Corp now owns 473,052 shares of the financial services provider’s stock valued at $15,185,000 after buying an additional 3,044 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Midland States Bancorp by 29.7% during the third quarter. Dimensional Fund Advisors LP now owns 445,669 shares of the financial services provider’s stock valued at $14,306,000 after buying an additional 102,148 shares during the period. Institutional investors own 44.97% of the company’s stock.

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About Midland States Bancorp (NASDAQ:MSBI)

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides banking and financial products and services to individuals, businesses, municipalities, and other entities. The company's deposit products include checking, savings, money market, and sweep accounts, as well as certificates of deposits, noninterest-bearing and interest-bearing demand deposits, and time deposits.

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