Key Points
- COO Kyle Owen Mooney sold 2,400 shares of Midland States Bancorp at an average price of $33.33, generating $79,992. Following the sale, he retained 13,610 shares, a 14.99% reduction in his holdings.
- Midland States Bancorp reported quarterly earnings of $0.82 per share, beating estimates by $0.04, while revenue of $83.74 million also exceeded expectations.
- The company increased its quarterly dividend to $0.33 per share, equivalent to a $1.32 annualized payout and a 4.0% yield. Analysts generally maintain a “Hold” view, with a consensus price target of $31.12.
Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) COO Kyle Mooney sold 2,400 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $33.33, for a total transaction of $79,992.00. Following the sale, the chief operating officer owned 13,610 shares of the company's stock, valued at approximately $453,621.30. The trade was a 14.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Kyle Owen Mooney also recently made the following trade(s):
- On Tuesday, August 18th, Kyle Mooney sold 489 shares of Midland States Bancorp stock. The shares were sold at an average price of $33.16, for a total transaction of $16,215.24.
- On Tuesday, August 11th, Kyle Mooney sold 1,198 shares of Midland States Bancorp stock. The shares were sold at an average price of $33.51, for a total transaction of $40,144.98.
Midland States Bancorp Price Performance
NASDAQ:MSBI opened at $32.89 on Thursday. The firm's fifty day moving average is $32.44 and its two-hundred day moving average is $27.89. The firm has a market cap of $682.47 million, a price-to-earnings ratio of 21.08 and a beta of 0.65. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.78 and a current ratio of 0.78. Midland States Bancorp, Inc. has a one year low of $14.24 and a one year high of $35.10.
Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. The business had revenue of $83.74 million during the quarter, compared to analyst estimates of $80.70 million. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. Research analysts expect that Midland States Bancorp, Inc. will post 3.4 EPS for the current 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 given a dividend of $0.33 per share. This is an increase from Midland States Bancorp's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, August 14th. Midland States Bancorp's dividend payout ratio (DPR) is 84.62%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on MSBI shares. DA Davidson upped their price objective 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. Wall Street Zen lowered shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Keefe, Bruyette & Woods boosted their target price on shares of 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. Piper Sandler increased their price target 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 restated a "hold (c)" rating on shares of Midland States Bancorp in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $31.12.
Check Out Our Latest Analysis on Midland States Bancorp
Hedge Funds Weigh In On Midland States Bancorp
Large investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC purchased a new position in Midland States Bancorp during the second quarter valued at $228,000. HighTower Advisors LLC increased its stake in shares of Midland States Bancorp by 58.1% during the second quarter. HighTower Advisors LLC now owns 19,515 shares of the financial services provider's stock worth $608,000 after purchasing an additional 7,169 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Midland States Bancorp by 650.6% during the 2nd quarter. California State Teachers Retirement System now owns 8,377 shares of the financial services provider's stock worth $269,000 after purchasing an additional 7,261 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Midland States Bancorp by 18.8% during the 2nd quarter. Hsbc Holdings PLC now owns 58,716 shares of the financial services provider's stock worth $1,820,000 after purchasing an additional 9,277 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in Midland States Bancorp in the 2nd quarter valued at about $2,893,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.
About Midland States Bancorp
(
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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