55,043 Shares in Midland States Bancorp, Inc. $MSBI Acquired by Ieq Capital LLC

Ieq Capital LLC acquired a new position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 55,043 shares of the financial services provider’s stock, valued at approximately $1,714,000.

Other hedge funds have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co raised its position in shares of 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 worth $43,000 after acquiring an additional 503 shares during the last quarter. Amundi boosted its holdings in Midland States Bancorp by 39.4% in the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 620 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Midland States Bancorp in the third quarter worth about $46,000. Quadrant Capital Group LLC increased its position in Midland States Bancorp by 302.7% in the fourth quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 3,457 shares during the period. Finally, Quantbot Technologies LP raised its holdings in Midland States Bancorp by 32.0% during the 2nd quarter. Quantbot Technologies LP now owns 7,372 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 1,787 shares during the last quarter. 60.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MSBI has been the topic of a number of research reports. DA Davidson upped their target price on shares of Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Wall Street Zen cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Piper Sandler increased their price objective on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Midland States Bancorp in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $29.10.

Midland States Bancorp Trading Down 0.2%

NASDAQ MSBI opened at $32.71 on Wednesday. The stock has a 50-day simple moving average of $31.81 and a 200 day simple moving average of $27.14. The company has a market capitalization of $678.73 million, a PE ratio of 20.97 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73. Midland States Bancorp, Inc. has a 12 month low of $14.24 and a 12 month high of $35.10.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $83.74 million for the quarter, compared to analysts’ expectations of $80.70 million. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. Research analysts forecast that Midland States Bancorp, Inc. will post 3.4 EPS for the current year.

Midland States Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 14th. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 4.0%. Midland States Bancorp’s payout ratio is currently 84.62%.

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

Insider Activity at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 8,383 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were 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. The trade was a 2.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Kyle Owen Mooney sold 1,198 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $33.51, for a total transaction of $40,144.98. Following the completion of the sale, the chief operating officer owned 14,099 shares of the company’s stock, valued at approximately $472,457.49. This represents a 7.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 10,070 shares of company stock valued at $341,382 in the last ninety days. Insiders own 8.57% of the company’s stock.

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.