Key Points
- COO Kyle Owen Mooney sold 2,808 shares on Jan. 28 at an average price of $22.67 for $63,657.36, leaving him with 14,207 shares—a 16.5% reduction in his position (SEC filing).
- Midland missed quarterly EPS expectations ($0.53 vs. $0.70) but beat on revenue ($85.79M), and the board has authorized a $25 million share buyback (about 7.3% of shares).
- The company pays a quarterly dividend of $0.32 (annualized yield ~5.6%) but has a high payout ratio (~126.7%), which may raise concerns about dividend sustainability.
Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) COO Kyle Owen Mooney sold 2,808 shares of the stock in a transaction that occurred on 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 approximately $322,072.69. This represents a 16.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Midland States Bancorp Trading Down 0.7%
MSBI stock opened at $22.86 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.95. The company has a market cap of $492.63 million, a price-to-earnings ratio of 22.63 and a beta of 0.66. The business has a fifty day simple moving average of $20.63 and a 200-day simple moving average of $18.42. Midland States Bancorp, Inc. has a 52 week low of $14.24 and a 52 week high of $24.57.
Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.70 by ($0.17). The firm had revenue of $85.79 million for the quarter, compared to analysts' expectations of $74.49 million. Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.41%. On average, equities research analysts expect that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.
Midland States Bancorp announced that its board has initiated a share buyback 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 buy up to 7.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.
Midland States Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 14th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend was Friday, November 14th. Midland States Bancorp's dividend payout ratio is 126.73%.
Institutional Trading of Midland States Bancorp
Several large investors have recently modified their holdings of the business. Amundi increased its position in shares of Midland States Bancorp by 39.4% during the first quarter. Amundi now owns 2,194 shares of the financial services provider's stock worth $38,000 after acquiring an additional 620 shares during the last quarter. Empowered Funds LLC grew its stake in Midland States Bancorp by 3.5% during the 1st quarter. Empowered Funds LLC now owns 58,504 shares of the financial services provider's stock valued at $1,002,000 after purchasing an additional 2,004 shares in the last quarter. Jane Street Group LLC purchased a new stake in Midland States Bancorp during the 1st quarter worth approximately $354,000. Public Employees Retirement System of Ohio raised its position in shares of Midland States Bancorp by 52.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,407 shares of the financial services provider's stock valued at $250,000 after purchasing an additional 4,952 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in shares of Midland States Bancorp by 5.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 19,126 shares of the financial services provider's stock valued at $331,000 after buying an additional 955 shares during the last quarter. 60.93% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on MSBI shares. Wall Street Zen upgraded shares of Midland States Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, January 23rd. Piper Sandler upped their price target on shares of Midland States Bancorp from $23.00 to $25.50 and gave the stock a "neutral" rating in a research report on Monday. Keefe, Bruyette & Woods increased their price target on Midland States Bancorp from $17.00 to $19.00 and gave the company a "market perform" rating in a report on Monday, December 8th. DA Davidson boosted their price objective on Midland States Bancorp from $23.00 to $24.00 and gave the stock a "neutral" rating 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 note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $23.00.
Check Out Our Latest Report on Midland States Bancorp
Midland States Bancorp Company Profile
(
Get Free Report)
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.
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