LSV Asset Management Sells 38,100 Shares of Midland States Bancorp, Inc. $MSBI

LSV Asset Management lessened its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 10.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 327,089 shares of the financial services provider’s stock after selling 38,100 shares during the period. LSV Asset Management owned approximately 1.52% of Midland States Bancorp worth $5,606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Midland States Bancorp by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 605,625 shares of the financial services provider’s stock valued at $10,491,000 after purchasing an additional 29,829 shares during the period. American Century Companies Inc. increased its position in Midland States Bancorp by 6.0% during the 2nd quarter. American Century Companies Inc. now owns 543,869 shares of the financial services provider’s stock worth $9,420,000 after buying an additional 30,733 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Midland States Bancorp by 38.1% during the second quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock worth $9,370,000 after buying an additional 149,175 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Midland States Bancorp by 10.4% in the second quarter. Prudential Financial Inc. now owns 230,720 shares of the financial services provider’s stock valued at $3,996,000 after acquiring an additional 21,711 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Midland States Bancorp by 9.9% in the second quarter. Bank of America Corp DE now owns 194,353 shares of the financial services provider’s stock valued at $3,366,000 after acquiring an additional 17,565 shares in the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Jeremy Andrew Jameson bought 5,598 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were purchased at an average price of $17.69 per share, for a total transaction of $99,028.62. Following the completion of the transaction, the executive vice president directly owned 63,412 shares of the company’s stock, valued at approximately $1,121,758.28. This represents a 9.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Daniel Edward Casey bought 5,000 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were bought at an average cost of $17.89 per share, for a total transaction of $89,450.00. Following the purchase, the insider owned 28,254 shares of the company’s stock, valued at approximately $505,464.06. The trade was a 21.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 11,098 shares of company stock valued at $197,324. 5.27% of the stock is currently owned by corporate insiders.

Midland States Bancorp Stock Performance

Shares of NASDAQ:MSBI opened at $22.97 on Monday. Midland States Bancorp, Inc. has a 1 year low of $14.24 and a 1 year high of $24.57. The stock has a market capitalization of $495.00 million, a price-to-earnings ratio of 22.74 and a beta of 0.66. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.85 and a quick ratio of 0.84. The company’s 50 day simple moving average is $22.17 and its 200 day simple moving average is $18.86.

Midland States Bancorp (NASDAQ:MSBI) last issued its 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 business had revenue of $85.79 million during the quarter, compared to analyst estimates of $74.49 million. As a group, research analysts predict that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp announced that its Board of Directors has authorized a share repurchase program on Monday, November 3rd that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Midland States Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.28 annualized dividend and a yield of 5.6%. Midland States Bancorp’s payout ratio is presently 126.73%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MSBI. Weiss Ratings reiterated a “sell (d+)” rating on shares of Midland States Bancorp in a research note on Monday, December 29th. UBS Group set a $25.50 price target on shares of Midland States Bancorp in a research report on Monday, January 26th. DA Davidson boosted their price target on Midland States Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, January 26th. Piper Sandler raised their price objective on Midland States Bancorp from $23.00 to $25.50 and gave the stock a “neutral” rating in a research note on Monday, January 26th. Finally, Wall Street Zen raised Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. One investment 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’s stock. Based on data from MarketBeat.com, Midland States Bancorp presently has an average rating of “Hold” and a consensus 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.