22,802 Shares in Midland States Bancorp, Inc. $MSBI Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) during the second quarter, HoldingsChannel reports. The firm purchased 22,802 shares of the financial services provider’s stock, valued at approximately $710,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc bought a new position in shares of Midland States Bancorp during the 2nd quarter worth approximately $58,000. CANADA LIFE ASSURANCE Co raised its stake in 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 valued at $43,000 after acquiring an additional 503 shares during the period. Amundi raised its stake in Midland States Bancorp by 39.4% in the 1st 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. CIBC Private Wealth Group LLC acquired a new stake in Midland States Bancorp during the 3rd quarter valued at $46,000. Finally, Quadrant Capital Group LLC lifted its holdings in Midland States Bancorp by 302.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 3,457 shares during the last quarter. Institutional investors own 60.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler lifted their price objective on shares of Midland States Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Midland States Bancorp in a research report on Friday, July 31st. DA Davidson raised their target price on shares of Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods lifted 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, July 27th. Finally, Wall Street Zen lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Midland States Bancorp presently has a consensus rating of “Hold” and an average price target of $29.10.

Midland States Bancorp Stock Performance

NASDAQ:MSBI opened at $33.00 on Monday. The stock has a 50 day simple moving average of $32.03 and a 200 day simple moving average of $27.33. The stock has a market cap of $684.75 million, a P/E ratio of 21.15 and a beta of 0.66. Midland States Bancorp, Inc. has a 1-year low of $14.24 and a 1-year high of $35.10. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data 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 firm had revenue of $83.74 million for the quarter, compared to analysts’ expectations of $80.70 million. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. Research analysts anticipate that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current year.

Midland States Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a dividend of $0.33 per share. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, August 14th. Midland States Bancorp’s dividend payout ratio (DPR) is currently 84.62%.

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

Insider Buying and Selling

In other Midland States Bancorp news, COO Kyle Owen Mooney sold 1,198 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was 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 in the company, valued at $472,457.49. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey G. Ludwig sold 8,383 shares of Midland States Bancorp stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total value of $285,022.00. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Insiders have sold 10,070 shares of company stock worth $341,382 in the last three months. 8.57% of the stock is currently owned by company insiders.

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.