Midland States Bancorp (NASDAQ:MSBI) CEO Jeffrey Ludwig Sells 8,383 Shares

Midland States Bancorp, Inc. (NASDAQ:MSBI) CEO Jeffrey Ludwig sold 8,383 shares of Midland States Bancorp 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Midland States Bancorp Price Performance

Shares of Midland States Bancorp stock traded down $0.48 during trading on Wednesday, hitting $33.62. 254,571 shares of the stock traded hands, compared to its average volume of 163,213. The stock has a market cap of $696.94 million, a price-to-earnings ratio of 21.55 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 0.71. Midland States Bancorp, Inc. has a 52 week low of $14.24 and a 52 week high of $34.35. The firm’s fifty day moving average is $29.82 and its 200-day moving average is $25.64.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $83.74 million during the quarter, compared to the consensus estimate of $80.70 million. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. Research analysts expect that Midland States Bancorp, Inc. will post 3.2 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 15th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, May 15th. Midland States Bancorp’s dividend payout ratio (DPR) is 82.05%.

Midland States Bancorp declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 6th that authorizes the company to buyback $45.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Midland States Bancorp

Institutional investors have recently modified their holdings of the company. Amundi grew 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 worth $38,000 after purchasing an additional 620 shares during the last quarter. Empowered Funds LLC increased its holdings in Midland States Bancorp by 3.5% during the 1st quarter. Empowered Funds LLC now owns 58,504 shares of the financial services provider’s stock valued at $1,002,000 after purchasing an additional 2,004 shares during the period. Jane Street Group LLC bought a new position in Midland States Bancorp during the 1st quarter valued at approximately $354,000. Rhumbline Advisers raised its position in Midland States Bancorp by 5.5% during the 2nd quarter. Rhumbline Advisers now owns 32,343 shares of the financial services provider’s stock valued at $560,000 after purchasing an additional 1,687 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Midland States Bancorp by 18.1% in the 2nd quarter. Hsbc Holdings PLC now owns 33,166 shares of the financial services provider’s stock worth $577,000 after buying an additional 5,075 shares during the period. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MSBI has been the subject of several analyst reports. Weiss Ratings upgraded Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Piper Sandler lifted their price target on Midland States Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Tuesday. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Wall Street Zen lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Midland States Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Midland States Bancorp currently 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.