Midland States Bancorp (NASDAQ:MSBI) COO Sells 1,198 Shares of Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) COO Kyle Owen Mooney sold 1,198 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $33.51, for a total value of $40,144.98. Following the transaction, the chief operating officer owned 14,099 shares of the company’s stock, valued at $472,457.49. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Midland States Bancorp Price Performance

MSBI traded down $0.06 during trading hours on Monday, hitting $33.32. The company’s stock had a trading volume of 204,540 shares, compared to its average volume of 163,933. The business’s 50-day moving average price is $31.34 and its 200-day moving average price is $26.66. Midland States Bancorp, Inc. has a 12 month low of $14.24 and a 12 month high of $35.10. The stock has a market cap of $691.39 million, a price-to-earnings ratio of 21.36 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data 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 net margin of 9.40% and a return on equity of 13.32%. The business had revenue of $83.74 million during the quarter, compared to analyst estimates of $80.70 million. Sell-side analysts expect that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. 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. Midland States Bancorp’s payout ratio is 84.62%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MSBI shares. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Piper Sandler boosted their target price on Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. DA Davidson increased their price target on 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 reaffirmed a “hold (c)” rating on shares of Midland States Bancorp in a research note on Friday, July 31st. 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $29.10.

Hedge Funds Weigh In On Midland States Bancorp

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Midland States Bancorp in the second quarter worth about $90,950,000. Patriot Financial Partners GP II L.P. purchased a new stake in Midland States Bancorp in the 1st quarter valued at about $9,783,000. AQR Capital Management LLC grew its stake in Midland States Bancorp by 38.1% in the 2nd quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock worth $9,370,000 after acquiring an additional 149,175 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Midland States Bancorp in the 2nd quarter worth about $3,941,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of 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 during the period. Hedge funds and other institutional investors 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.