Man Group plc Invests $940,000 in Midland States Bancorp, Inc. $MSBI

Man Group plc acquired a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 30,174 shares of the financial services provider’s stock, valued at approximately $940,000. Man Group plc owned about 0.15% of Midland States Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in MSBI. Legal & General Group Plc bought a new position in Midland States Bancorp during the second quarter valued at about $58,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Midland States Bancorp by 33.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 503 shares during the period. Amundi lifted its position in shares of 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 acquiring an additional 620 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in shares of Midland States Bancorp during the 3rd quarter worth approximately $46,000. Finally, Quadrant Capital Group LLC increased its position in shares of Midland States Bancorp by 302.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 3,457 shares during the period. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Trading Up 0.9%

Shares of MSBI opened at $33.53 on Friday. Midland States Bancorp, Inc. has a 1 year low of $14.24 and a 1 year high of $35.10. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73. The stock has a 50 day simple moving average of $32.26 and a 200-day simple moving average of $27.60. The stock has a market cap of $695.75 million, a PE ratio of 21.49 and a beta of 0.65.

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

Midland States Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.32 annualized dividend and a yield of 3.9%. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.32. Midland States Bancorp’s payout ratio is 84.62%.

Insiders Place Their Bets

In other Midland States Bancorp news, COO Kyle Mooney sold 1,198 shares of Midland States Bancorp stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $33.51, for a total value of $40,144.98. Following the completion of the transaction, the chief operating officer owned 14,099 shares in the company, valued at approximately $472,457.49. The trade was a 7.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Ludwig sold 8,383 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total value of $285,022.00. Following the completion of the transaction, the chief executive officer directly owned 400,971 shares in the company, valued at approximately $13,633,014. This represents a 2.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,070 shares of company stock valued at $341,382 over the last ninety days. Insiders own 8.57% of the company’s stock.

Wall Street Analyst Weigh In

MSBI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on 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. Piper Sandler lifted 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 note on Tuesday, July 28th. DA Davidson boosted their price target on shares of Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Weiss Ratings restated a “hold (c)” rating on shares of Midland States Bancorp in a research note on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.10.

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.