Midland States Bancorp (NASDAQ:MSBI) CEO Jeffrey Ludwig Sells 8,383 Shares

Midland States Bancorp, Inc. (NASDAQ:MSBI) CEO Jeffrey Ludwig sold 8,383 shares of Midland States Bancorp stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total transaction of $285,022.00. Following the completion of the transaction, the chief executive officer owned 400,971 shares in the company, valued at approximately $13,633,014. The trade was a 2.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Midland States Bancorp Stock Performance

NASDAQ MSBI opened at $33.62 on Thursday. The company has a 50-day simple moving average of $29.94 and a two-hundred day simple moving average of $25.73. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. Midland States Bancorp, Inc. has a 12-month low of $14.24 and a 12-month high of $34.35. The firm has a market cap of $696.94 million, a price-to-earnings ratio of 21.55 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%.The firm had revenue of $83.74 million for the quarter, compared to the consensus estimate of $80.70 million. On average, equities analysts forecast that Midland States Bancorp, Inc. will post 3.4 EPS for the current year.

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, May 15th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 82.05%.

Midland States Bancorp declared that its Board of Directors has approved a share buyback program on Wednesday, May 6th that authorizes the company to repurchase $45.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Midland States Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MSBI. Rhino Investment Partners Inc increased its position in Midland States Bancorp by 22.5% during the 1st quarter. Rhino Investment Partners Inc now owns 320,288 shares of the financial services provider’s stock valued at $7,146,000 after purchasing an additional 58,754 shares during the period. Empowered Funds LLC lifted its position in shares of Midland States Bancorp by 43.3% in the 1st quarter. Empowered Funds LLC now owns 96,686 shares of the financial services provider’s stock worth $2,157,000 after purchasing an additional 29,214 shares during the period. Quantinno Capital Management LP lifted its position in shares of Midland States Bancorp by 26.9% in the 1st quarter. Quantinno Capital Management LP now owns 54,635 shares of the financial services provider’s stock worth $1,219,000 after purchasing an additional 11,582 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Midland States Bancorp by 9.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 198,525 shares of the financial services provider’s stock valued at $4,429,000 after purchasing an additional 16,637 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Midland States Bancorp by 163.0% during the 1st quarter. Sei Investments Co. now owns 38,076 shares of the financial services provider’s stock valued at $849,000 after purchasing an additional 23,600 shares in the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MSBI shares. Wall Street Zen lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Keefe, Bruyette & Woods upped their price target on shares of Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a report on Monday. Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Weiss Ratings upgraded shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Finally, Piper Sandler upped their price objective on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $29.10.

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.