Patriot Financial Partners GP II L.P. Buys Shares of 438,500 Midland States Bancorp, Inc. $MSBI

Patriot Financial Partners GP II L.P. bought a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) in the first quarter, Holdings Channel reports. The fund bought 438,500 shares of the financial services provider’s stock, valued at approximately $9,783,000. Midland States Bancorp comprises 2.5% of Patriot Financial Partners GP II L.P.’s portfolio, making the stock its 11th biggest holding.

Several other large investors also recently modified their holdings of the stock. CANADA LIFE ASSURANCE Co raised its holdings in shares of 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 during the period. Amundi grew its holdings in Midland States Bancorp by 39.4% during the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 620 shares during the period. Commonwealth Equity Services LLC increased its position in Midland States Bancorp by 2.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 41,792 shares of the financial services provider’s stock worth $885,000 after buying an additional 992 shares during the last quarter. First Trust Advisors LP increased its position in Midland States Bancorp by 8.1% in the second quarter. First Trust Advisors LP now owns 14,385 shares of the financial services provider’s stock worth $249,000 after buying an additional 1,084 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Midland States Bancorp by 12.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,334 shares of the financial services provider’s stock valued at $262,000 after buying an additional 1,403 shares during the period. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Trading Down 1.8%

Shares of MSBI stock opened at $31.12 on Friday. The stock has a market capitalization of $645.12 million, a price-to-earnings ratio of 26.37 and a beta of 0.66. The company’s fifty day simple moving average is $29.11 and its two-hundred day simple moving average is $25.09. Midland States Bancorp, Inc. has a 1 year low of $14.24 and a 1 year high of $31.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.19. The firm had revenue of $81.10 million during the quarter, compared to analyst estimates of $75.59 million. Midland States Bancorp had a return on equity of 11.55% and a net margin of 7.53%. As a group, analysts anticipate that Midland States Bancorp, Inc. will post 3.17 earnings per share for the current year.

Midland States Bancorp announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 6th that permits the company to repurchase $45.00 million in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 4.1%. Midland States Bancorp’s dividend payout ratio is 108.47%.

Insider Transactions at Midland States Bancorp

In related news, Director Travis Franklin bought 9,400 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was acquired at an average price of $26.49 per share, for a total transaction of $249,006.00. Following the purchase, the director directly owned 9,400 shares in the company, valued at $249,006. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Piper Sandler upped their price target on Midland States Bancorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings raised Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Wall Street Zen downgraded shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Finally, DA Davidson increased their target price on shares of Midland States Bancorp from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.70.

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.