Insider Selling: Midland States Bancorp, Inc. (NASDAQ:MSBI) SVP Sells 3,577 Shares of Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) SVP Douglas J. Tucker sold 3,577 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $24.00, for a total transaction of $85,848.00. Following the completion of the sale, the senior vice president now owns 32,871 shares in the company, valued at $788,904. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Midland States Bancorp Trading Down 0.4 %

Midland States Bancorp stock traded down $0.09 during midday trading on Monday, reaching $23.66. The stock had a trading volume of 69,981 shares, compared to its average volume of 61,137. Midland States Bancorp, Inc. has a twelve month low of $18.54 and a twelve month high of $28.47. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $516.97 million, a price-to-earnings ratio of 8.16 and a beta of 0.79. The firm’s fifty day simple moving average is $23.94 and its two-hundred day simple moving average is $24.49.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.56%. The company had revenue of $122.86 million for the quarter, compared to the consensus estimate of $75.05 million. During the same period in the previous year, the business posted $0.88 earnings per share. Equities analysts anticipate that Midland States Bancorp, Inc. will post 2.76 EPS for the current fiscal year.

Midland States Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 16th were issued a dividend of $0.31 per share. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend was Thursday, February 15th. Midland States Bancorp’s payout ratio is currently 42.18%.

Institutional Trading of Midland States Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in Midland States Bancorp by 176.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 909 shares during the last quarter. AJOVista LLC acquired a new position in shares of Midland States Bancorp in the 4th quarter valued at approximately $67,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Midland States Bancorp by 110.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,168 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 3,244 shares during the period. International Assets Investment Management LLC grew its position in shares of Midland States Bancorp by 2,688.1% in the 4th quarter. International Assets Investment Management LLC now owns 7,723 shares of the financial services provider’s stock valued at $213,000 after purchasing an additional 7,446 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of Midland States Bancorp in the 3rd quarter valued at approximately $244,000. 60.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MSBI. Piper Sandler cut their price target on Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating for the company in a report on Tuesday, April 30th. Keefe, Bruyette & Woods decreased their price target on shares of Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating for the company in a research report on Tuesday, April 30th. Finally, Stephens decreased their price objective on shares of Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Midland States Bancorp has a consensus rating of “Hold” and an average price target of $25.63.

About Midland States Bancorp

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.