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 Midland States Bancorp 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. The trade was a 16.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Midland States Bancorp Stock Performance

Shares of NASDAQ MSBI traded down $0.17 during trading on Wednesday, reaching $22.86. 292,890 shares of the company traded hands, compared to its average volume of 200,483. The firm has a 50 day simple moving average of $20.48 and a 200-day simple moving average of $18.39. Midland States Bancorp, Inc. has a 52-week low of $14.24 and a 52-week high of $24.57. The stock has a market capitalization of $492.63 million, a PE ratio of 22.63 and a beta of 0.66. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.95.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.17). Midland States Bancorp had a return on equity of 10.41% and a net margin of 6.62%.The firm had revenue of $85.79 million during the quarter, compared to the consensus estimate of $74.49 million. Equities research analysts anticipate that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current year.

Midland States Bancorp announced that its board has initiated a stock repurchase program on Monday, November 3rd that allows the company to buyback $25.00 million in shares. This buyback authorization allows the financial services provider to reacquire up to 7.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 14th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.28 dividend on an annualized basis and a yield of 5.6%. Midland States Bancorp’s dividend payout ratio (DPR) is currently 126.73%.

Hedge Funds Weigh In On Midland States Bancorp

Institutional investors have recently made changes to their positions in the company. Amundi increased its holdings in Midland States Bancorp by 39.4% during the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after buying an additional 620 shares during the period. CIBC Private Wealth Group LLC acquired a new stake in Midland States Bancorp in the third quarter worth about $46,000. Daytona Street Capital LLC acquired a new stake in Midland States Bancorp in the 4th quarter worth approximately $107,000. Quantbot Technologies LP lifted its stake in shares of Midland States Bancorp by 32.0% during the second 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 period. Finally, AlphaQuest LLC raised its stake in shares of Midland States Bancorp by 23,655.3% in the second 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 during the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Analyst Upgrades and Downgrades

MSBI has been the topic of a number of research reports. DA Davidson lifted their price target on shares of Midland States Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Monday. Keefe, Bruyette & Woods lifted their target price on Midland States Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Monday, December 8th. Wall Street Zen upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. UBS Group set a $25.50 price objective on Midland States Bancorp in a research note on Monday. Finally, Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock 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.