Midland States Bancorp, Inc. $MSBI Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 15.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 890,800 shares of the financial services provider’s stock after selling 160,022 shares during the period. Dimensional Fund Advisors LP’s holdings in Midland States Bancorp were worth $19,873,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Patriot Financial Partners GP II L.P. purchased a new position in shares of Midland States Bancorp during the 1st quarter worth $9,783,000. Principal Financial Group Inc. acquired a new position in shares of Midland States Bancorp during the 1st quarter valued at about $912,000. Hsbc Holdings PLC grew its holdings in shares of Midland States Bancorp by 5.2% in the first quarter. Hsbc Holdings PLC now owns 49,439 shares of the financial services provider’s stock valued at $1,103,000 after purchasing an additional 2,435 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in shares of Midland States Bancorp in the third quarter valued at about $46,000. Finally, CANADA LIFE ASSURANCE Co increased its position in Midland States Bancorp by 33.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 503 shares during the last quarter. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 8,383 shares of Midland States Bancorp stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total transaction of $285,022.00. Following the completion of the sale, the chief executive officer directly owned 400,971 shares in the company, valued at $13,633,014. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.57% of the stock is currently owned by corporate insiders.

Midland States Bancorp Stock Performance

NASDAQ MSBI opened at $33.76 on Friday. The stock has a market cap of $700.52 million, a PE ratio of 21.64 and a beta of 0.66. 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, Inc. has a twelve month low of $14.24 and a twelve month high of $35.10. The stock has a fifty day simple moving average of $30.68 and a 200-day simple moving average of $26.23.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The firm 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%. Equities analysts anticipate that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current year.

Midland States Bancorp announced that its board has authorized 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Midland States Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 14th will be given a dividend of $0.33 per share. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, August 14th. Midland States Bancorp’s dividend payout ratio (DPR) is 82.05%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MSBI. 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 research note on Monday, July 27th. Wall Street Zen raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. DA Davidson raised their price target on shares of Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Zacks Research upgraded shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Midland States Bancorp in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.10.

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.