Kyle Owen Mooney Sells 2,400 Shares of Midland States Bancorp (NASDAQ:MSBI) Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) COO Kyle Mooney sold 2,400 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $33.33, for a total value of $79,992.00. Following the transaction, the chief operating officer owned 13,610 shares of the company’s stock, valued at approximately $453,621.30. The trade was a 14.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, August 18th, Kyle Mooney sold 489 shares of Midland States Bancorp stock. The stock was sold at an average price of $33.16, for a total value of $16,215.24.
• On Tuesday, August 11th, Kyle 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 Trading Down 0.4%

MSBI stock traded down $0.14 during trading on Wednesday, hitting $33.10. The company had a trading volume of 10,104 shares, compared to its average volume of 161,005. Midland States Bancorp, Inc. has a 52-week low of $14.24 and a 52-week high of $35.10. The company has a 50 day simple moving average of $32.41 and a 200-day simple moving average of $27.83. The firm has a market capitalization of $686.78 million, a P/E ratio of 21.22 and a beta of 0.65. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.73.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $83.74 million during 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%. As a group, research analysts forecast that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, August 14th. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.32. Midland States Bancorp’s dividend payout ratio (DPR) is 84.62%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. 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 worth $38,000 after acquiring an additional 620 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Midland States Bancorp by 33.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 503 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Midland States Bancorp in the 3rd quarter worth approximately $46,000. Legal & General Group Plc purchased a new stake in Midland States Bancorp during the 2nd quarter worth approximately $58,000. Finally, Quadrant Capital Group LLC increased its stake in Midland States Bancorp by 302.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 3,457 shares in the last quarter. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MSBI has been the topic of several research reports. Keefe, Bruyette & Woods raised their price target on Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. DA Davidson upped their price objective on shares of Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Wall Street Zen cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Piper Sandler raised their target price on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Midland States Bancorp in a report on Friday, July 31st. 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.