Midland States Bancorp (NASDAQ:MSBI) Insider Daniel Edward Casey Purchases 5,000 Shares of Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) insider Daniel Edward Casey purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average price of $17.89 per share, for a total transaction of $89,450.00. Following the acquisition, the insider owned 28,254 shares of the company’s stock, valued at $505,464.06. This trade represents a 21.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Midland States Bancorp Trading Up 0.2%

NASDAQ MSBI traded up $0.04 on Friday, reaching $20.05. The company had a trading volume of 43,534 shares, compared to its average volume of 134,813. The firm has a market cap of $432.08 million, a price-to-earnings ratio of -15.73 and a beta of 0.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.85 and a quick ratio of 0.84. Midland States Bancorp, Inc. has a fifty-two week low of $14.24 and a fifty-two week high of $27.21. The business has a 50 day moving average of $16.37 and a two-hundred day moving average of $17.22.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Wednesday, March 23rd. The financial services provider reported $0.54 EPS for the quarter. Midland States Bancorp had a negative return on equity of 3.63% and a negative net margin of 3.80%.The firm had revenue of $70.61 million for the quarter. Analysts forecast that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp Dividend Announcement

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

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

Analyst Upgrades and Downgrades

MSBI has been the topic of a number of analyst reports. Zacks Research lowered shares of Midland States Bancorp from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 6th. Piper Sandler upped their price target on shares of Midland States Bancorp from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday. Keefe, Bruyette & Woods decreased their price target on Midland States Bancorp from $20.00 to $17.00 and set a “market perform” rating for the company in a report on Monday, November 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, November 24th. Finally, Wall Street Zen upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Midland States Bancorp presently has an average rating of “Reduce” and a consensus target price of $19.50.

Hedge Funds Weigh In On Midland States Bancorp

A number of institutional investors have recently modified their holdings of MSBI. Vanguard Group Inc. lifted its holdings in shares of Midland States Bancorp by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,209,953 shares of the financial services provider’s stock worth $20,714,000 after purchasing an additional 29,439 shares in the last quarter. Geode Capital Management LLC raised its holdings in Midland States Bancorp by 5.2% during the second quarter. Geode Capital Management LLC now owns 605,625 shares of the financial services provider’s stock worth $10,491,000 after buying an additional 29,829 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Midland States Bancorp by 6.0% in the second quarter. American Century Companies Inc. now owns 543,869 shares of the financial services provider’s stock valued at $9,420,000 after buying an additional 30,733 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Midland States Bancorp by 38.1% during the second quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock valued at $9,370,000 after buying an additional 149,175 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in shares of Midland States Bancorp by 6.3% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 303,640 shares of the financial services provider’s stock worth $5,198,000 after acquiring an additional 18,100 shares in the last quarter. 60.93% of the stock is owned by institutional investors and hedge funds.

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.