Midland States Bancorp, Inc. (NASDAQ:MSBI) Short Interest Up 22.0% in February

Midland States Bancorp, Inc. (NASDAQ:MSBI) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 492,684 shares, a growth of 22.0% from the January 29th total of 403,923 shares. Based on an average daily trading volume, of 143,502 shares, the days-to-cover ratio is presently 3.4 days. Currently, 2.4% of the company’s stock are sold short. Currently, 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 143,502 shares, the days-to-cover ratio is presently 3.4 days.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MSBI shares. Wall Street Zen upgraded shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. DA Davidson upped their price objective on shares of Midland States Bancorp from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 26th. UBS Group set a $25.50 price objective on shares of Midland States Bancorp in a research note on Monday, January 26th. Weiss Ratings reissued a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, December 29th. Finally, Zacks Research downgraded Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Five investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Midland States Bancorp presently has an average rating of “Reduce” and an average price target of $23.00.

Insider Transactions at Midland States Bancorp

In related news, 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 completion of the sale, the chief operating officer directly owned 14,207 shares of the company’s stock, valued at approximately $322,072.69. This represents a 16.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 5.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. 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 increased 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 in the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Midland States Bancorp in the third quarter worth about $46,000. Quadrant Capital Group LLC raised its position in shares of Midland States Bancorp by 302.7% in the fourth 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 period. Finally, Daytona Street Capital LLC bought a new position in Midland States Bancorp in the 4th quarter worth approximately $107,000. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Stock Performance

MSBI traded up $0.06 during midday trading on Wednesday, reaching $22.62. The company had a trading volume of 114,840 shares, compared to its average volume of 119,230. Midland States Bancorp has a 12-month low of $14.24 and a 12-month high of $24.57. The business has a 50-day moving average price of $22.60 and a two-hundred day moving average price of $19.35. The stock has a market cap of $474.79 million, a PE ratio of 22.40 and a beta of 0.62. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.84 and a current ratio of 0.80.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.17). Midland States Bancorp had a return on equity of 10.47% and a net margin of 6.62%.The company had revenue of $85.79 million for the quarter, compared to analysts’ expectations of $74.49 million. On average, sell-side analysts expect that Midland States Bancorp will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were paid a $0.32 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.28 annualized dividend and a dividend yield of 5.7%. Midland States Bancorp’s payout ratio is presently 126.73%.

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.