Midland States Bancorp, Inc. (NASDAQ:MSBI) Sees Large Growth in Short Interest

Midland States Bancorp, Inc. (NASDAQ:MSBI) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 492,684 shares, a growth of 22.0% from the January 29th total of 403,923 shares. Based on an average trading volume of 143,502 shares, the short-interest ratio is currently 3.4 days. Approximately 2.4% of the company’s stock are short sold. Approximately 2.4% of the company’s stock are short sold. Based on an average trading volume of 143,502 shares, the short-interest ratio is currently 3.4 days.

Midland States Bancorp Stock Performance

MSBI stock traded down $0.11 during trading on Tuesday, reaching $22.56. The stock had a trading volume of 105,434 shares, compared to its average volume of 164,130. The firm has a market cap of $486.17 million, a PE ratio of 22.34 and a beta of 0.62. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. The stock’s 50 day moving average is $22.56 and its two-hundred day moving average is $19.29. Midland States Bancorp has a 52 week low of $14.24 and a 52 week high of $24.57.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.17). The business had revenue of $85.79 million for the quarter, compared to analysts’ expectations of $74.49 million. Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.41%. As a group, equities analysts anticipate that Midland States Bancorp will post 2.53 earnings per share for the current year.

Midland States Bancorp declared that its board has authorized a stock buyback plan on Monday, November 3rd that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Midland States Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, February 13th. Midland States Bancorp’s dividend payout ratio is 126.73%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MSBI shares. Weiss Ratings restated a “sell (d+)” rating on shares of Midland States Bancorp in a report on Monday, December 29th. Zacks Research cut Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. UBS Group set a $25.50 price objective on Midland States Bancorp in a research report on Monday, January 26th. Wall Street Zen raised Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, Piper Sandler upped their target price on shares of Midland States Bancorp from $23.00 to $25.50 and gave the company a “neutral” rating in a research note on Monday, January 26th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $23.00.

Insider Buying and Selling at Midland States Bancorp

In related news, COO Kyle Owen Mooney sold 2,808 shares of the stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $22.67, for a total transaction of $63,657.36. Following the sale, the chief operating officer directly owned 14,207 shares of the company’s stock, valued at approximately $322,072.69. This represents a 16.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jeremy Andrew Jameson bought 5,598 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was purchased at an average cost of $17.69 per share, with a total value of $99,028.62. Following the completion of the acquisition, the executive vice president directly owned 63,412 shares of the company’s stock, valued at approximately $1,121,758.28. The trade was a 9.68% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 11,098 shares of company stock valued at $197,324. Corporate insiders own 5.27% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co increased its stake in shares of Midland States Bancorp by 33.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 503 shares in the last quarter. Amundi increased its stake in Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after buying an additional 620 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in Midland States Bancorp by 5.3% during the second quarter. Valeo Financial Advisors LLC now owns 19,126 shares of the financial services provider’s stock valued at $331,000 after acquiring an additional 955 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Midland States Bancorp by 2.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 41,792 shares of the financial services provider’s stock valued at $885,000 after acquiring an additional 992 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Midland States Bancorp by 3.4% in the third quarter. Federated Hermes Inc. now owns 32,790 shares of the financial services provider’s stock worth $562,000 after acquiring an additional 1,071 shares during the period. 60.93% of the stock is currently owned by institutional investors.

About Midland States Bancorp

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.