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

Sei Investments Co. lifted its stake in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 163.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,076 shares of the financial services provider’s stock after purchasing an additional 23,600 shares during the quarter. Sei Investments Co. owned about 0.18% of Midland States Bancorp worth $849,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co raised its stake 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 last quarter. Amundi raised its position in shares of Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 620 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in Midland States Bancorp in the 3rd quarter worth about $46,000. Quadrant Capital Group LLC boosted its stake in Midland States Bancorp by 302.7% in the 4th 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 in the last quarter. Finally, Quantbot Technologies LP grew its position 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 valued at $128,000 after purchasing an additional 1,787 shares during the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jeffrey G. Ludwig sold 8,383 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total transaction of $285,022.00. Following the transaction, the chief executive officer directly owned 400,971 shares of the company’s stock, valued at $13,633,014. This represents a 2.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.57% of the company’s stock.

Midland States Bancorp Stock Performance

Shares of NASDAQ MSBI opened at $33.63 on Friday. The firm’s 50-day moving average price is $31.24 and its 200-day moving average price is $26.59. Midland States Bancorp, Inc. has a 52-week low of $14.24 and a 52-week high of $35.10. The company has a market cap of $697.82 million, a PE ratio of 21.56 and a beta of 0.66. 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 for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm 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, analysts anticipate that Midland States Bancorp, Inc. will post 3.4 EPS for the current year.

Midland States Bancorp announced that its board has approved a share repurchase plan on Wednesday, May 6th that permits the company to buyback $45.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board 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 given a $0.33 dividend. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a yield of 3.9%. Midland States Bancorp’s payout ratio is presently 82.05%.

Wall Street Analysts Forecast Growth

MSBI has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Midland States Bancorp in a report on Friday, July 31st. Keefe, Bruyette & Woods raised their price target on shares of 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. DA Davidson boosted their price objective on shares of Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Piper Sandler upped their price objective on 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, Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $29.10.

Midland States Bancorp 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.