Insider Selling: Midland States Bancorp (NASDAQ:MSBI) COO Sells 2,808 Shares of Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) COO Kyle Owen Mooney sold 2,808 shares of the stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $22.67, for a total value of $63,657.36. Following the sale, the chief operating officer owned 14,207 shares in the company, valued at $322,072.69. The trade was a 16.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Midland States Bancorp Trading Down 0.7%

MSBI stock traded down $0.17 during midday trading on Wednesday, reaching $22.86. The stock had a trading volume of 292,890 shares, compared to its average volume of 200,483. The business has a fifty day simple moving average of $20.48 and a two-hundred day simple moving average of $18.39. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.95. The firm has a market cap of $492.63 million, a price-to-earnings ratio of 22.63 and a beta of 0.66. Midland States Bancorp, Inc. has a twelve month low of $14.24 and a twelve month high of $24.57.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share 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 10.41%. The firm had revenue of $85.79 million during the quarter, compared to analyst estimates of $74.49 million. As a group, research analysts expect that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 14th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.28 annualized dividend and a yield of 5.6%. Midland States Bancorp’s dividend payout ratio is 126.73%.

Midland States Bancorp announced that its board has approved a stock repurchase plan on Monday, November 3rd that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Midland States Bancorp

Hedge funds have recently modified their holdings of the company. Amundi increased its holdings 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 buying an additional 620 shares during the period. CIBC Private Wealth Group LLC purchased a new position in shares of Midland States Bancorp in the 3rd quarter valued at approximately $46,000. Daytona Street Capital LLC bought a new stake in shares of Midland States Bancorp during the 4th quarter valued at $107,000. Quantbot Technologies LP grew its stake in shares of Midland States Bancorp by 32.0% in the 2nd quarter. Quantbot Technologies LP now owns 7,372 shares of the financial services provider’s stock worth $128,000 after buying an additional 1,787 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in Midland States Bancorp by 23,655.3% in the 2nd quarter. AlphaQuest LLC now owns 9,027 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 8,989 shares in the last quarter. Institutional investors own 60.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MSBI shares. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their price objective on Midland States Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Monday, December 8th. UBS Group set a $25.50 price objective on shares of Midland States Bancorp in a research note on Monday. Wall Street Zen raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Midland States Bancorp in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Midland States Bancorp presently has a consensus rating of “Hold” and a consensus price target of $23.00.

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.