Key Points
- COO Kyle Owen Mooney sold 489 shares of Midland States Bancorp at an average price of $33.16, receiving $16,215.24. The sale reduced his direct holdings by 3.47% to 13,610 shares; he also sold 1,198 shares the prior week.
- Midland States Bancorp reported quarterly EPS of $0.82, exceeding estimates of $0.78, while revenue reached $83.74 million. The company raised its quarterly dividend to $0.33 per share, implying a 4.0% yield, and has a $45 million share-repurchase authorization.
- Analyst sentiment remains mostly cautious, with a consensus “Hold” rating and an average price target of $29.10, below the stock’s $33.14 opening price. Institutional investors and hedge funds own 60.93% of the company.
Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) COO Kyle Owen Mooney sold 489 shares of the company's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $33.16, for a total transaction of $16,215.24. Following the completion of the transaction, the chief operating officer directly owned 13,610 shares of the company's stock, valued at $451,307.60. This represents a 3.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Kyle Owen Mooney also recently made the following trade(s):
- On Tuesday, August 11th, Kyle Owen Mooney sold 1,198 shares of Midland States Bancorp stock. The stock was sold at an average price of $33.51, for a total value of $40,144.98.
Midland States Bancorp Trading Down 0.5%
MSBI stock opened at $33.14 on Wednesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50 day simple moving average of $31.52 and a two-hundred day simple moving average of $26.81. Midland States Bancorp, Inc. has a 1-year low of $14.24 and a 1-year high of $35.10. The company has a market capitalization of $687.65 million, a price-to-earnings ratio of 21.24 and a beta of 0.66.
Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. The company had revenue of $83.74 million during the quarter, compared to analysts' expectations of $80.70 million. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. Research analysts anticipate that Midland States Bancorp, Inc. will post 3.4 EPS for the current fiscal year.
Midland States Bancorp Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 14th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Midland States Bancorp's previous quarterly dividend of $0.32. Midland States Bancorp's dividend payout ratio is 84.62%.
Midland States Bancorp announced that its board has authorized a stock repurchase program on Wednesday, May 6th that allows the company to buyback $45.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the business. Empowered Funds LLC purchased a new position in shares of Midland States Bancorp in the 2nd quarter valued at approximately $2,893,000. Jefferies Financial Group Inc. acquired a new position in Midland States Bancorp during the second quarter valued at $710,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Midland States Bancorp in the second quarter worth about $655,000. Bank of America Corp DE purchased a new stake in Midland States Bancorp in the 2nd quarter worth approximately $3,545,000. Finally, Man Group plc purchased a new stake in Midland States Bancorp during the second quarter worth $940,000. 60.93% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have recently issued reports on MSBI. Wall Street Zen raised Midland States Bancorp from a "hold" rating to a "buy" rating in a research 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. DA Davidson increased their target price on shares of Midland States Bancorp from $30.00 to $33.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Piper Sandler increased their target price on shares of Midland States Bancorp from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Midland States Bancorp in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $29.10.
Check Out Our Latest Analysis on MSBI
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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