Midland States Bancorp (NASDAQ:MSBI) COO Sells $16,215.24 in Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) COO Kyle Owen Mooney sold 489 shares of Midland States Bancorp stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $33.16, for a total transaction of $16,215.24. Following the transaction, the chief operating officer directly owned 13,610 shares in the company, valued at $451,307.60. This represents a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kyle Owen Mooney also recently made the following trade(s):

• On Tuesday, August 11th, Kyle Owen Mooney sold 1,198 shares of Midland States Bancorp stock. The shares were sold at an average price of $33.51, for a total transaction of $40,144.98.

Midland States Bancorp Stock Performance

Shares of MSBI stock opened at $32.53 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. The firm has a 50-day moving average of $31.63 and a 200-day moving average of $26.94. Midland States Bancorp, Inc. has a one year low of $14.24 and a one year high of $35.10. The company has a market cap of $675.00 million, a P/E ratio of 20.85 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly 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. The business had revenue of $83.74 million for the quarter, compared to analysts’ expectations of $80.70 million. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. Equities research analysts forecast that Midland States Bancorp, Inc. will post 3.4 EPS for the current fiscal year.

Midland States Bancorp declared that its board has authorized a share buyback plan on Wednesday, May 6th that authorizes the company to buyback $45.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Midland States Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 14th will be paid 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 dividend on an annualized basis and a yield of 4.1%. Midland States Bancorp’s dividend payout ratio is presently 84.62%.

Hedge Funds Weigh In On Midland States Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of MSBI. BlackRock Inc. bought a new position in shares of Midland States Bancorp during the 2nd quarter valued at about $90,950,000. State Street Corp lifted its position in Midland States Bancorp by 10.1% in the 4th quarter. State Street Corp now owns 682,862 shares of the financial services provider’s stock worth $14,456,000 after buying an additional 62,874 shares during the last quarter. AQR Capital Management LLC boosted its stake in Midland States Bancorp by 38.1% in the second quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock worth $9,370,000 after buying an additional 149,175 shares in the last quarter. Patriot Financial Partners GP II L.P. purchased a new stake in Midland States Bancorp in the first quarter worth approximately $9,783,000. Finally, Rhino Investment Partners Inc grew its position in Midland States Bancorp by 22.5% during the first quarter. Rhino Investment Partners Inc now owns 320,288 shares of the financial services provider’s stock valued at $7,146,000 after acquiring an additional 58,754 shares during the last quarter. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MSBI. Wall Street Zen raised Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. DA Davidson increased their price objective on Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Zacks Research raised Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Piper Sandler raised 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. Finally, Keefe, Bruyette & Woods lifted their price target on Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $29.10.

Midland States Bancorp Company Profile

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.