Midland States Bancorp (NASDAQ:MSBI) COO Kyle Owen Mooney Sells 1,198 Shares

Midland States Bancorp, Inc. (NASDAQ:MSBI) COO Kyle Owen Mooney sold 1,198 shares of Midland States Bancorp stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $33.51, for a total transaction of $40,144.98. Following the transaction, the chief operating officer owned 14,099 shares of the company’s stock, valued at $472,457.49. This represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Midland States Bancorp Trading Down 0.2%

NASDAQ:MSBI opened at $33.32 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.78 and a quick ratio of 0.78. Midland States Bancorp, Inc. has a one year low of $14.24 and a one year high of $35.10. The company has a market cap of $691.39 million, a PE ratio of 21.36 and a beta of 0.66. The firm has a 50-day moving average of $31.43 and a 200-day moving average of $26.73.

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, beating the consensus estimate of $0.78 by $0.04. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. The business had revenue of $83.74 million for the quarter, compared to analysts’ expectations of $80.70 million. As a group, equities research analysts expect that Midland States Bancorp, Inc. will post 3.4 EPS for the current fiscal year.

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 given a $0.33 dividend. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 14th. Midland States Bancorp’s payout ratio is presently 84.62%.

Midland States Bancorp declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 6th that allows the company to repurchase $45.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Midland States Bancorp

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Midland States Bancorp in the second quarter worth $90,950,000. Patriot Financial Partners GP II L.P. purchased a new stake in Midland States Bancorp in the first quarter worth $9,783,000. AQR Capital Management LLC lifted its stake in Midland States Bancorp by 38.1% in the second quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock worth $9,370,000 after acquiring an additional 149,175 shares during the period. Bank of New York Mellon Corp purchased a new stake in Midland States Bancorp in the second quarter worth about $3,941,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in Midland States Bancorp by 97.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider’s stock valued at $5,046,000 after acquiring an additional 117,422 shares in the last quarter. Institutional investors own 60.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MSBI shares. DA Davidson increased their target price on shares of Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods boosted their price objective 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. Wall Street Zen raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Zacks Research upgraded shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Finally, Piper Sandler raised their price target 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 analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.