Midland States Bancorp, Inc. (NASDAQ:MSBI) Short Interest Down 19.0% in December

Midland States Bancorp, Inc. (NASDAQ:MSBI) was the target of a large drop in short interest in December. As of December 31st, there was short interest totalling 224,000 shares, a drop of 19.0% from the December 15th total of 276,700 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average trading volume of 77,900 shares, the short-interest ratio is currently 2.9 days.

Insider Transactions at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the transaction, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Large investors have recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in Midland States Bancorp during the 3rd quarter valued at approximately $31,000. Point72 Asset Management L.P. acquired a new stake in Midland States Bancorp in the third quarter valued at $45,000. Quantbot Technologies LP boosted its stake in Midland States Bancorp by 25.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 507 shares during the last quarter. US Bancorp DE grew its holdings in Midland States Bancorp by 141.6% during the 3rd quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 2,229 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Midland States Bancorp in the 3rd quarter worth about $148,000. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Stock Performance

Midland States Bancorp stock opened at $24.32 on Thursday. The stock has a fifty day moving average price of $25.65 and a 200 day moving average price of $23.86. Midland States Bancorp has a 52 week low of $20.54 and a 52 week high of $28.10. The firm has a market capitalization of $520.45 million, a P/E ratio of 10.53 and a beta of 0.76. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.63 by $0.11. The company had revenue of $124.17 million during the quarter, compared to analyst estimates of $72.90 million. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. During the same period in the prior year, the firm posted $0.78 earnings per share. Equities research analysts anticipate that Midland States Bancorp will post 2.16 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s dividend payout ratio is presently 53.68%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MSBI shares. Keefe, Bruyette & Woods raised their price target on Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler raised their price target on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Monday.

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.