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

LSV Asset Management reduced its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 10.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 327,089 shares of the financial services provider’s stock after selling 38,100 shares during the quarter. LSV Asset Management’s holdings in Midland States Bancorp were worth $5,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaQuest LLC boosted its position in Midland States Bancorp by 110.7% during the 3rd quarter. AlphaQuest LLC now owns 19,017 shares of the financial services provider’s stock worth $326,000 after buying an additional 9,990 shares during the period. Federated Hermes Inc. increased its position in Midland States Bancorp by 3.4% in the 3rd quarter. Federated Hermes Inc. now owns 32,790 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 1,071 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Midland States Bancorp during the third quarter valued at $232,000. KLP Kapitalforvaltning AS lifted its holdings in shares of Midland States Bancorp by 31.1% during the third quarter. KLP Kapitalforvaltning AS now owns 17,300 shares of the financial services provider’s stock worth $297,000 after purchasing an additional 4,100 shares during the period. Finally, CWM LLC lifted its holdings in shares of Midland States Bancorp by 99.4% during the third quarter. CWM LLC now owns 23,592 shares of the financial services provider’s stock worth $404,000 after purchasing an additional 11,761 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.

Midland States Bancorp Stock Down 0.9%

Shares of Midland States Bancorp stock opened at $22.97 on Monday. The stock’s 50-day moving average is $22.17 and its 200 day moving average is $18.86. Midland States Bancorp, Inc. has a one year low of $14.24 and a one year high of $24.57. The firm has a market cap 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.

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). The business had revenue of $85.79 million during the quarter, compared to the consensus estimate of $74.49 million. Midland States Bancorp had a return on equity of 10.41% and a net margin of 6.62%. Equities research analysts anticipate that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp declared 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 purchase up to 7.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Midland States Bancorp Announces Dividend

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

Insider Buying and Selling

In related news, EVP Jeremy Andrew Jameson acquired 5,598 shares of the company’s stock in a transaction dated 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 acquisition, the executive vice president owned 63,412 shares of the company’s stock, valued at approximately $1,121,758.28. This trade represents a 9.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kyle Owen Mooney sold 2,808 shares of the stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $22.67, for a total transaction of $63,657.36. Following the transaction, the chief operating officer directly owned 14,207 shares in the company, valued at $322,072.69. This trade represents a 16.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders have purchased a total of 11,098 shares of company stock valued at $197,324 over the last ninety days. 5.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. DA Davidson increased their price objective on Midland States Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, January 26th. UBS Group set a $25.50 price target on Midland States Bancorp in a research note on Monday, January 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Midland States Bancorp in a research note on Monday, December 29th. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Finally, Keefe, Bruyette & Woods raised their price target on shares of Midland States Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Midland States Bancorp currently has an average rating of “Hold” and an average 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.