Midland States Bancorp (NASDAQ:MSBI) EVP Jeremy Andrew Jameson Buys 5,598 Shares

Midland States Bancorp, Inc. (NASDAQ:MSBI) EVP Jeremy Andrew Jameson acquired 5,598 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was acquired at an average price of $17.69 per share, with a total value of $99,028.62. Following the completion of the transaction, the executive vice president directly owned 63,412 shares in the company, valued at $1,121,758.28. This trade represents a 9.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Midland States Bancorp Stock Up 6.1%

MSBI stock traded up $1.15 during mid-day trading on Thursday, hitting $19.94. 239,536 shares of the company were exchanged, compared to its average volume of 134,177. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.85. Midland States Bancorp, Inc. has a 1-year low of $14.24 and a 1-year high of $27.36. The firm’s 50 day simple moving average is $16.32 and its 200 day simple moving average is $17.20. The firm has a market cap of $429.75 million, a P/E ratio of -15.72 and a beta of 0.69.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Wednesday, March 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter. The company had revenue of $70.61 million during the quarter. Midland States Bancorp had a negative net margin of 3.80% and a negative return on equity of 3.63%. On average, sell-side analysts predict that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date was Friday, November 14th. Midland States Bancorp’s payout ratio is -100.79%.

Midland States Bancorp declared that its board has authorized a stock repurchase program on Monday, November 3rd that permits the company to buyback $25.00 million in shares. This buyback authorization permits the financial services provider to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Amundi increased its stake in shares of Midland States Bancorp by 39.4% during the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 620 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in Midland States Bancorp during the third quarter worth about $46,000. Quantbot Technologies LP increased its position in Midland States Bancorp by 162.5% during the first quarter. Quantbot Technologies LP now owns 5,585 shares of the financial services provider’s stock worth $96,000 after buying an additional 3,457 shares during the last quarter. AlphaQuest LLC raised its stake in Midland States Bancorp by 23,655.3% in the second quarter. AlphaQuest LLC now owns 9,027 shares of the financial services provider’s stock valued at $156,000 after buying an additional 8,989 shares during the period. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Midland States Bancorp in the third quarter valued at approximately $184,000. Institutional investors own 60.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, November 24th. Piper Sandler lifted their price objective on shares of Midland States Bancorp from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday. Zacks Research lowered shares of Midland States Bancorp from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 6th. Wall Street Zen raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Midland States Bancorp from $20.00 to $17.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Midland States Bancorp currently has an average rating of “Reduce” and an average target price of $19.50.

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.