Kyle Owen Mooney Sells 489 Shares of Midland States Bancorp (NASDAQ:MSBI) Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) COO Kyle Owen Mooney sold 489 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $33.16, for a total transaction of $16,215.24. Following the sale, the chief operating officer owned 13,610 shares in the company, valued at approximately $451,307.60. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kyle Owen Mooney also recently made the following trade(s):

• On Tuesday, August 11th, Kyle Owen Mooney sold 1,198 shares of Midland States Bancorp stock. The shares were sold at an average price of $33.51, for a total transaction of $40,144.98.

Midland States Bancorp Price Performance

Shares of NASDAQ:MSBI opened at $32.31 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.78 and a current ratio of 0.78. Midland States Bancorp, Inc. has a 52 week low of $14.24 and a 52 week high of $35.10. The firm has a market cap of $670.43 million, a PE ratio of 20.71 and a beta of 0.66. The firm’s fifty day moving average is $31.57 and its 200-day moving average is $26.87.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $83.74 million during the quarter, compared to the consensus estimate of $80.70 million. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. Sell-side analysts predict that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current year.

Midland States Bancorp announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 6th that authorizes the company to repurchase $45.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Midland States Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 14th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. Midland States Bancorp’s payout ratio is currently 84.62%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MSBI shares. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Piper Sandler boosted their price target on shares of Midland States Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods upped their price objective on shares of Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. DA Davidson upped their price objective on shares of Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Wall Street Zen upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $29.10.

Institutional Investors Weigh In On Midland States Bancorp

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Midland States Bancorp during the 2nd quarter worth approximately $90,950,000. Patriot Financial Partners GP II L.P. bought a new stake in shares of Midland States Bancorp in the 1st quarter valued at $9,783,000. AQR Capital Management LLC lifted its position in shares of Midland States Bancorp by 38.1% during the 2nd 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 during the period. Bank of New York Mellon Corp acquired a new position in shares of Midland States Bancorp during the 2nd quarter valued at $3,941,000. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Midland States Bancorp by 97.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider’s stock worth $5,046,000 after acquiring an additional 117,422 shares in the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

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.