Midland States Bancorp, Inc. (NASDAQ:MSBI) Short Interest Up 35.1% in March

Midland States Bancorp, Inc. (NASDAQ:MSBI) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 603,020 shares, a growth of 35.1% from the February 26th total of 446,225 shares. Based on an average daily trading volume, of 114,615 shares, the days-to-cover ratio is currently 5.3 days. Currently, 3.0% of the shares of the stock are short sold.

Insider Transactions at Midland States Bancorp

In other Midland States Bancorp news, COO Kyle Owen Mooney sold 2,808 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $22.67, for a total value of $63,657.36. Following the sale, the chief operating officer directly owned 14,207 shares in the company, valued at approximately $322,072.69. The trade was a 16.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Midland States Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its holdings in shares of Midland States Bancorp by 34.9% in the fourth quarter. Hsbc Holdings PLC now owns 47,004 shares of the financial services provider’s stock valued at $990,000 after purchasing an additional 12,172 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Midland States Bancorp by 35.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 14,570 shares of the financial services provider’s stock valued at $308,000 after buying an additional 3,837 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Midland States Bancorp by 10.7% during the fourth quarter. Empowered Funds LLC now owns 67,472 shares of the financial services provider’s stock valued at $1,428,000 after buying an additional 6,513 shares in the last quarter. XTX Topco Ltd acquired a new position in Midland States Bancorp during the fourth quarter valued at $471,000. Finally, Susquehanna Portfolio Strategies LLC acquired a new position in Midland States Bancorp during the fourth quarter valued at $203,000. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

Midland States Bancorp Trading Down 0.9%

MSBI traded down $0.20 during trading on Friday, reaching $21.74. The company had a trading volume of 94,520 shares, compared to its average volume of 133,057. The firm’s 50-day simple moving average is $22.47 and its 200 day simple moving average is $19.73. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. The company has a market cap of $466.76 million, a price-to-earnings ratio of 21.52 and a beta of 0.62. Midland States Bancorp has a 12-month low of $14.24 and a 12-month high of $24.57.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.17). Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.47%. The firm had revenue of $85.79 million for the quarter, compared to analysts’ expectations of $74.49 million. Equities research analysts anticipate that Midland States Bancorp will post 2.53 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Friday, February 13th. Midland States Bancorp’s dividend payout ratio is 126.73%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. UBS Group set a $25.50 price objective on shares of Midland States Bancorp in a research note on Monday, January 26th. Keefe, Bruyette & Woods increased their target price on shares of Midland States Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Monday, December 8th. Zacks Research cut shares of Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Wall Street Zen raised Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, DA Davidson increased their price objective 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. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $23.00.

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.