Midland States Bancorp (NASDAQ:MSBI) COO Kyle Owen Mooney Sells 489 Shares of Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) COO Kyle Owen Mooney sold 489 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $33.16, for a total value of $16,215.24. Following the completion of the sale, the chief operating officer directly owned 13,610 shares in the company, valued at approximately $451,307.60. The trade was a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 value of $40,144.98.

Midland States Bancorp Price Performance

Shares of NASDAQ MSBI traded down $0.13 during midday trading on Tuesday, reaching $33.19. 111,256 shares of the stock traded hands, compared to its average volume of 163,556. The company’s 50 day moving average is $31.43 and its 200 day moving average is $26.73. Midland States Bancorp, Inc. has a one year low of $14.24 and a one year high of $35.10. 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 stock has a market capitalization of $688.69 million, a PE ratio of 21.25 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI) last announced 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 company 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%. On average, equities research analysts anticipate that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current year.

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

Midland States Bancorp Increases Dividend

The firm also recently disclosed 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. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is 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 is 84.62%.

Institutional Investors Weigh In On Midland States Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi raised its stake in shares of 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 period. CANADA LIFE ASSURANCE Co grew its holdings in Midland States Bancorp by 33.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 503 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Midland States Bancorp in the 3rd quarter worth about $46,000. Legal & General Group Plc bought a new stake in Midland States Bancorp in the second quarter worth about $58,000. Finally, Quadrant Capital Group LLC lifted its stake 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 last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Wall Street Analyst Weigh In

MSBI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods increased 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 report on Monday, July 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Midland States Bancorp in a research note on Friday, July 31st. Wall Street Zen upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Zacks Research raised Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Finally, Piper Sandler lifted their target price on Midland States Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $29.10.

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.