Sei Investments Co. Grows Stock Position in Midland States Bancorp, Inc. $MSBI

Sei Investments Co. lifted its holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 163.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 38,076 shares of the financial services provider’s stock after buying an additional 23,600 shares during the period. Sei Investments Co.’s holdings in Midland States Bancorp were worth $849,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co grew its position in Midland States Bancorp by 33.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after buying an additional 503 shares during the period. Amundi raised its position in Midland States Bancorp by 39.4% in the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 620 shares during the period. Commonwealth Equity Services LLC raised its position in Midland States Bancorp by 2.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 41,792 shares of the financial services provider’s stock worth $885,000 after acquiring an additional 992 shares during the period. First Trust Advisors LP boosted its stake in shares of Midland States Bancorp by 8.1% during the 2nd quarter. First Trust Advisors LP now owns 14,385 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 1,084 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Midland States Bancorp by 12.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,334 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 1,403 shares during the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Insider Activity at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 8,383 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total value of $285,022.00. Following the completion of the transaction, the chief executive officer owned 400,971 shares of the company’s stock, valued at $13,633,014. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.57% of the stock is owned by insiders.

Midland States Bancorp Stock Up 0.3%

Shares of MSBI stock opened at $33.63 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.78 and a quick ratio of 0.78. Midland States Bancorp, Inc. has a one year low of $14.24 and a one year high of $35.10. The company’s fifty day moving average price is $31.24 and its 200-day moving average price is $26.59. The company has a market capitalization of $697.82 million, a price-to-earnings ratio of 21.56 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, topping 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 company had revenue of $83.74 million during the quarter, compared to the consensus estimate of $80.70 million. Sell-side analysts expect that Midland States Bancorp, Inc. will post 3.4 EPS for the current fiscal year.

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

Midland States Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 14th will be given a $0.33 dividend. The ex-dividend date is Friday, August 14th. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 3.9%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 82.05%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Piper Sandler boosted their price target on Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Wall Street Zen upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Keefe, Bruyette & Woods raised their price objective on Midland States Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Midland States Bancorp in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Midland States Bancorp currently has an average rating of “Hold” and an average price target of $29.10.

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.