Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) COO Kyle Owen Mooney sold 1,198 shares of the company's stock in a transaction dated 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 transaction, the chief operating officer owned 14,099 shares in the company, valued at approximately $472,457.49. The trade was a 7.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Midland States Bancorp Stock Performance
Shares of MSBI opened at $33.32 on Tuesday. The business's fifty day simple moving average is $31.43 and its two-hundred day simple moving average is $26.73. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73. The company has a market cap of $691.39 million, a price-to-earnings ratio of 21.36 and a beta of 0.66. Midland States Bancorp, Inc. has a 12 month low of $14.24 and a 12 month high of $35.10.
Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. The firm had revenue of $83.74 million during the quarter, compared to analyst estimates of $80.70 million. Research analysts anticipate that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current fiscal year.
Midland States Bancorp announced that its board has initiated a stock buyback plan on Wednesday, May 6th that authorizes the company to buyback $45.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.
Midland States Bancorp Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 4.0%. This is a boost from Midland States Bancorp's previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 14th. Midland States Bancorp's dividend payout ratio (DPR) is presently 84.62%.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. DA Davidson increased their target price on Midland States Bancorp from $30.00 to $33.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Weiss Ratings restated a "hold (c)" rating on shares of Midland States Bancorp in a report on Friday, July 31st. Wall Street Zen upgraded Midland States Bancorp from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Zacks Research raised shares of Midland States Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 28th. Finally, Piper Sandler upped their target price on Midland States Bancorp from $32.00 to $35.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Midland States Bancorp has an average rating of "Hold" and a consensus target price of $29.10.
Read Our Latest Analysis on MSBI
Institutional Trading of Midland States Bancorp
A number of large investors have recently made changes to their positions in MSBI. Legal & General Group Plc bought a new position in shares of Midland States Bancorp in the second quarter worth about $58,000. CANADA LIFE ASSURANCE Co boosted its position in Midland States Bancorp by 33.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider's stock valued at $43,000 after buying an additional 503 shares during the period. Amundi boosted its position in Midland States Bancorp by 39.4% in the 1st 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 bought a new position in Midland States Bancorp in the 3rd quarter worth about $46,000. Finally, Quadrant Capital Group LLC grew its stake in Midland States Bancorp by 302.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider's stock worth $97,000 after acquiring an additional 3,457 shares in the last quarter. 60.93% of the stock is owned by hedge funds and other institutional investors.
About Midland States Bancorp
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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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