Midland States Bancorp, Inc. (NASDAQ:MSBI) Director Purchases $12,324.00 in Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) Director Jeffrey C. Smith purchased 650 shares of Midland States Bancorp stock in a transaction on Tuesday, January 28th. The shares were acquired at an average cost of $18.96 per share, with a total value of $12,324.00. Following the completion of the transaction, the director now directly owns 33,609 shares in the company, valued at $637,226.64. The trade was a 1.97 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Midland States Bancorp Trading Up 2.0 %

MSBI stock opened at $19.67 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. Midland States Bancorp, Inc. has a 52-week low of $18.75 and a 52-week high of $28.10. The company’s 50-day simple moving average is $24.84 and its 200-day simple moving average is $23.86. The firm has a market cap of $420.96 million, a P/E ratio of 8.52 and a beta of 0.76.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported ($2.52) EPS for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. As a group, equities analysts forecast that Midland States Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Midland States Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 6.30%. The ex-dividend date of this dividend was Monday, November 18th. Midland States Bancorp’s payout ratio is presently -118.10%.

Hedge Funds Weigh In On Midland States Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Midland States Bancorp by 2.5% during the third quarter. State Street Corp now owns 587,947 shares of the financial services provider’s stock worth $13,158,000 after purchasing an additional 14,157 shares in the last quarter. Geode Capital Management LLC lifted its stake in Midland States Bancorp by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock valued at $11,460,000 after buying an additional 2,294 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in Midland States Bancorp in the 3rd quarter worth about $5,764,000. JPMorgan Chase & Co. boosted its holdings in Midland States Bancorp by 52.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock worth $2,469,000 after buying an additional 37,889 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Midland States Bancorp by 31.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock worth $1,996,000 after buying an additional 21,416 shares in the last quarter. 60.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MSBI has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their target price on shares of Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating for the company in a report on Monday. StockNews.com downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. DA Davidson reduced their price target on Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday. Finally, Piper Sandler decreased their price target on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating for the company in a report on Tuesday. Five research analysts have rated the stock with a hold rating, According to MarketBeat, Midland States Bancorp presently has a consensus rating of “Hold” and an average target price of $23.50.

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, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.