Midland States Bancorp (NASDAQ:MSBI) COO Kyle Owen Mooney Sells 489 Shares of Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) COO Kyle Owen Mooney sold 489 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $33.16, for a total value of $16,215.24. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 shares were sold at an average price of $33.51, for a total value of $40,144.98.

Midland States Bancorp Stock Down 0.5%

MSBI stock opened at $33.14 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.78 and a current ratio of 0.78. 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, Inc. has a fifty-two week low of $14.24 and a fifty-two week high of $35.10. The stock has a fifty day moving average of $31.52 and a 200-day moving average of $26.81.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The company 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%. As a group, equities research analysts predict that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current year.

Midland States Bancorp announced that its board has initiated a stock repurchase program on Wednesday, May 6th that authorizes the company to buyback $45.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors 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. Shareholders of record on Friday, August 14th will be 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 dividend yield of 4.0%. The ex-dividend date is Friday, August 14th. Midland States Bancorp’s dividend payout ratio (DPR) is currently 84.62%.

Institutional Trading of Midland States Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi grew its stake in shares of Midland States Bancorp by 39.4% in the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 620 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Midland States Bancorp by 3.5% in the first quarter. Empowered Funds LLC now owns 58,504 shares of the financial services provider’s stock worth $1,002,000 after acquiring an additional 2,004 shares during the period. Jane Street Group LLC purchased a new stake in Midland States Bancorp during the 1st quarter valued at $354,000. Rhumbline Advisers increased its position in Midland States Bancorp by 5.5% during the second quarter. Rhumbline Advisers now owns 32,343 shares of the financial services provider’s stock valued at $560,000 after acquiring an additional 1,687 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in shares of Midland States Bancorp by 18.1% in the 2nd quarter. Hsbc Holdings PLC now owns 33,166 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 5,075 shares during the period. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on MSBI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Midland States Bancorp in a research note on Friday, July 31st. Keefe, Bruyette & Woods boosted their target price on Midland States Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Wall Street Zen raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Zacks Research raised Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $29.10.

About Midland States Bancorp

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.