Funderburg R. Robert Jr
recently revealed that they own a 5.1% stake in Midland States Bancorp Inc (NASDAQ:MSBI) in a Schedule 13D disclosure that was filed with the SEC on Monday, March 12th. The investor owns 1,219,762 shares of the stock worth about $39,678,858. The disclosure is available through EDGAR at this link.
MSBI has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Midland States Bancorp from a “sell” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Saturday, January 13th. BidaskClub upgraded shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. Finally, ValuEngine lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, February 2nd.
In other Midland States Bancorp news, EVP Jeffrey S. Mefford sold 3,260 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $31.70, for a total transaction of $103,342.00. Following the sale, the executive vice president now directly owns 21,868 shares in the company, valued at approximately $693,215.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John M. Schultz sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $31.78, for a total transaction of $63,560.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,260 shares of company stock worth $424,162. 14.90% of the stock is owned by company insiders.
Shares of Midland States Bancorp Inc (MSBI) traded up $0.04 during mid-day trading on Monday, hitting $32.53. 10,889 shares of the stock traded hands, compared to its average volume of 65,063. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.06. Midland States Bancorp Inc has a 52-week low of $28.70 and a 52-week high of $36.50. The firm has a market cap of $771.27, a price-to-earnings ratio of 35.32, a P/E/G ratio of 1.82 and a beta of 1.12.
Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.17). The company had revenue of $50.03 million during the quarter, compared to analyst estimates of $54.10 million. Midland States Bancorp had a return on equity of 8.71% and a net margin of 7.56%. analysts forecast that Midland States Bancorp Inc will post 2.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 16th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a yield of 2.71%. Midland States Bancorp’s dividend payout ratio is 95.65%.
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Midland States Bancorp Company Profile
Midland States Bancorp, Inc is a diversified financial holding company. The Company’s banking subsidiary is Midland States Bank (the Bank). The Company’s principal business activity has been lending to and accepting deposits from individuals, businesses, municipalities and other entities. The Company’s segments include Banking, which provides a range of financial products and services to consumers and businesses, including loan products; commercial equipment leasing; mortgage loan sales and servicing; letters of credit; various types of deposit products, including checking, savings and time deposit accounts; merchant services, and corporate treasury management services; Commercial Federal Housing Administration (FHA) Origination and Servicing, which provides for the origination and servicing of government sponsored mortgages for multifamily and healthcare facilities, and Other, which includes the operating results of the Company and its wealth management business unit.
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