Midland States Bancorp (NASDAQ:MSBI) COO Sells $63,657.36 in Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) COO Kyle Owen Mooney sold 2,808 shares of the firm’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $22.67, for a total value of $63,657.36. Following the completion of the transaction, the chief operating officer owned 14,207 shares of the company’s stock, valued at approximately $322,072.69. This represents a 16.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Midland States Bancorp Stock Performance

NASDAQ MSBI opened at $22.85 on Friday. The business has a fifty day moving average of $20.93 and a 200-day moving average of $18.48. Midland States Bancorp, Inc. has a fifty-two week low of $14.24 and a fifty-two week high of $24.57. The stock has a market cap of $492.42 million, a price-to-earnings ratio of 22.62 and a beta of 0.66. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.95.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.17). Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.41%. The business had revenue of $85.79 million during the quarter, compared to analyst estimates of $74.49 million. As a group, analysts predict that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 14th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.28 annualized dividend and a yield of 5.6%. Midland States Bancorp’s dividend payout ratio (DPR) is 126.73%.

Midland States Bancorp announced that its Board of Directors has approved a stock repurchase plan on Monday, November 3rd that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Midland States Bancorp

A number of large investors have recently bought and sold shares of MSBI. Midland Wealth Advisors LLC grew its holdings in shares of Midland States Bancorp by 49.9% during the fourth quarter. Midland Wealth Advisors LLC now owns 21,384 shares of the financial services provider’s stock valued at $453,000 after purchasing an additional 7,114 shares during the last quarter. Smith Moore & CO. acquired a new position in Midland States Bancorp during the 4th quarter valued at approximately $210,000. Daytona Street Capital LLC bought a new position in Midland States Bancorp during the 4th quarter worth $107,000. Nisa Investment Advisors LLC increased its position in Midland States Bancorp by 431.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 13,378 shares of the financial services provider’s stock worth $283,000 after buying an additional 10,863 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Midland States Bancorp by 45.9% in the fourth quarter. SG Americas Securities LLC now owns 12,539 shares of the financial services provider’s stock valued at $265,000 after buying an additional 3,944 shares during the last quarter. Institutional investors own 60.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. DA Davidson upped their target price on Midland States Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 26th. Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Wall Street Zen raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings restated a “sell (d+)” rating on shares of Midland States Bancorp in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Midland States Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Midland States Bancorp currently has an average rating of “Hold” and a consensus price target of $23.00.

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.