Short Interest in Midland States Bancorp, Inc. (NASDAQ:MSBI) Declines By 12.8%

Midland States Bancorp, Inc. (NASDAQ:MSBI) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 230,100 shares, a decline of 12.8% from the May 31st total of 264,000 shares. Based on an average trading volume of 60,800 shares, the short-interest ratio is presently 3.8 days. Approximately 1.1% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MSBI. Stephens lowered their price objective on shares of Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 30th. Piper Sandler lowered their price objective on shares of Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating for the company in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $25.63.

Midland States Bancorp Trading Up 1.2 %

MSBI stock traded up $0.27 during trading on Tuesday, reaching $22.92. The company had a trading volume of 31,638 shares, compared to its average volume of 61,094. Midland States Bancorp has a 52 week low of $19.62 and a 52 week high of $28.47. The company has a market cap of $492.32 million, a P/E ratio of 7.70 and a beta of 0.76. The business has a 50 day moving average of $22.74 and a 200 day moving average of $24.39. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.92 and a quick ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). Midland States Bancorp had a return on equity of 11.50% and a net margin of 15.17%. The company had revenue of $122.86 million during the quarter, compared to the consensus estimate of $75.05 million. During the same period in the previous year, the company earned $0.88 earnings per share. As a group, sell-side analysts forecast that Midland States Bancorp will post 2.7 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 17th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend was Thursday, May 16th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 42.18%.

Insider Buying and Selling

In related news, Director Jeffrey M. Mcdonnell bought 2,290 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average cost of $21.80 per share, for a total transaction of $49,922.00. Following the completion of the transaction, the director now owns 24,245 shares of the company’s stock, valued at $528,541. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Midland States Bancorp news, Director Jeffrey M. Mcdonnell purchased 2,290 shares of the stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $21.80 per share, with a total value of $49,922.00. Following the completion of the purchase, the director now directly owns 24,245 shares of the company’s stock, valued at approximately $528,541. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas J. Tucker sold 3,577 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $24.00, for a total transaction of $85,848.00. Following the completion of the sale, the senior vice president now directly owns 32,871 shares of the company’s stock, valued at $788,904. The disclosure for this sale can be found here. 5.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC grew its holdings in Midland States Bancorp by 176.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 909 shares during the period. EntryPoint Capital LLC purchased a new stake in Midland States Bancorp in the first quarter worth about $42,000. AJOVista LLC purchased a new stake in shares of Midland States Bancorp during the fourth quarter valued at approximately $67,000. Comerica Bank grew its holdings in shares of Midland States Bancorp by 950.4% during the first quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock valued at $188,000 after buying an additional 6,757 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Midland States Bancorp by 2,688.1% during the fourth quarter. International Assets Investment Management LLC now owns 7,723 shares of the financial services provider’s stock valued at $213,000 after buying an additional 7,446 shares during the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Company Profile

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.