Hsbc Holdings PLC Takes $1.82 Million Position in Midland States Bancorp, Inc. $MSBI

Hsbc Holdings PLC bought a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,716 shares of the financial services provider’s stock, valued at approximately $1,820,000. Hsbc Holdings PLC owned approximately 0.28% of Midland States Bancorp at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Amundi lifted its stake in Midland States Bancorp by 39.4% in 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. CANADA LIFE ASSURANCE Co grew its position in shares of Midland States Bancorp by 33.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock worth $43,000 after buying an additional 503 shares during the period. CIBC Private Wealth Group LLC bought a new stake in shares of Midland States Bancorp in the 3rd quarter valued at $46,000. Legal & General Group Plc acquired a new position in shares of Midland States Bancorp during the 2nd quarter valued at $58,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Midland States Bancorp by 302.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 3,457 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.

Midland States Bancorp Price Performance

Midland States Bancorp stock opened at $33.00 on Monday. The firm has a market capitalization of $684.75 million, a price-to-earnings ratio of 21.15 and a beta of 0.66. The firm’s fifty day moving average price is $32.03 and its two-hundred day moving average price is $27.33. Midland States Bancorp, Inc. has a 1-year low of $14.24 and a 1-year high of $35.10. 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 (NASDAQ:MSBI) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $83.74 million for the quarter, compared to analyst estimates of $80.70 million. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. On average, equities research analysts predict that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.0%. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date was Friday, August 14th. Midland States Bancorp’s dividend payout ratio is currently 84.62%.

Midland States Bancorp announced that its Board of Directors has initiated a share buyback program on Wednesday, May 6th that permits the company to repurchase $45.00 million in shares. This repurchase authorization permits 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 believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. 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 report on Tuesday, July 28th. Wall Street Zen lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. DA Davidson upped their price target on Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Midland States Bancorp in a report on Friday, July 31st. Finally, Keefe, Bruyette & Woods raised their price objective on Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $29.10.

Insider Buying and Selling at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 8,383 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total value of $285,022.00. Following the completion of the sale, the chief executive officer owned 400,971 shares in the company, valued at $13,633,014. This represents a 2.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Kyle Owen Mooney sold 1,198 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $33.51, for a total transaction of $40,144.98. Following the completion of the sale, the chief operating officer owned 14,099 shares of the company’s stock, valued at approximately $472,457.49. The trade was a 7.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 10,070 shares of company stock valued at $341,382 in the last quarter. 8.57% of the stock is currently owned by corporate insiders.

Midland States Bancorp 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.