Wells Fargo & Company MN boosted its stake in shares of Midland States Bancorp Inc (NASDAQ:MSBI) by 75.8% during the second quarter, HoldingsChannel.com reports. The firm owned 347,490 shares of the financial services provider’s stock after acquiring an additional 149,871 shares during the period. Wells Fargo & Company MN’s holdings in Midland States Bancorp were worth $9,286,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Midland States Bancorp by 23.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,050 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 392 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Midland States Bancorp by 73,150.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,395 shares of the financial services provider’s stock valued at $106,000 after buying an additional 4,389 shares during the period. Ridgewood Investments LLC increased its holdings in Midland States Bancorp by 36.9% in the 2nd quarter. Ridgewood Investments LLC now owns 13,160 shares of the financial services provider’s stock valued at $352,000 after buying an additional 3,546 shares during the period. Municipal Employees Retirement System of Michigan bought a new stake in Midland States Bancorp in the 2nd quarter valued at $514,000. Finally, Strs Ohio bought a new stake in Midland States Bancorp in the 2nd quarter valued at $574,000. 47.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MSBI traded up $0.38 during midday trading on Friday, reaching $27.42. 163 shares of the stock were exchanged, compared to its average volume of 58,432. Midland States Bancorp Inc has a twelve month low of $19.56 and a twelve month high of $34.48. The company has a quick ratio of 1.04, a current ratio of 1.05 and a debt-to-equity ratio of 1.15. The company has a market cap of $650.61 million, a P/E ratio of 13.43, a PEG ratio of 1.49 and a beta of 1.36. The stock’s 50 day simple moving average is $26.04 and its 200 day simple moving average is $25.73.
Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.66 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.02. Midland States Bancorp had a return on equity of 10.14% and a net margin of 17.52%. The business had revenue of $65.66 million during the quarter, compared to the consensus estimate of $64.90 million. As a group, analysts predict that Midland States Bancorp Inc will post 2.54 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were paid a $0.243 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Thursday, August 15th. Midland States Bancorp’s dividend payout ratio is currently 47.55%.
A number of brokerages have commented on MSBI. Zacks Investment Research raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday. TheStreet raised Midland States Bancorp from a “c+” rating to a “b” rating in a research note on Friday, May 24th. Finally, BidaskClub raised Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $27.00.
In related news, Director Jerry L. Mcdaniel sold 14,259 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $26.21, for a total transaction of $373,728.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffrey A. Brunoehler sold 22,178 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $27.00, for a total value of $598,806.00. Following the sale, the senior vice president now owns 57,861 shares of the company’s stock, valued at approximately $1,562,247. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,929 shares of company stock worth $1,622,756. 12.70% of the stock is owned by insiders.
About Midland States Bancorp
Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Commercial FHA Origination and Servicing, Wealth Management, and Other segments.
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