Midland States Bancorp (NASDAQ:MSBI) Sets New 52-Week Low – Should You Sell?

Midland States Bancorp, Inc. (NASDAQ:MSBI) shares hit a new 52-week low during mid-day trading on Saturday . The company traded as low as $19.75 and last traded at $20.00, with a volume of 586275 shares. The stock had previously closed at $25.00.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MSBI. Piper Sandler raised their price objective on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday. Finally, Keefe, Bruyette & Woods upped their price objective on Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Midland States Bancorp Stock Down 20.0 %

The firm’s fifty day moving average is $25.24 and its 200-day moving average is $23.92. The stock has a market capitalization of $428 million, a PE ratio of 8.66 and a beta of 0.76. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. On average, equities research analysts predict that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The firm also recently announced 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 6.20%. The ex-dividend date of this dividend was Monday, November 18th. Midland States Bancorp’s dividend payout ratio (DPR) is currently 53.68%.

Insiders Place Their Bets

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Trading of Midland States Bancorp

A number of institutional investors have recently bought and sold shares of MSBI. Quantbot Technologies LP raised its stake in shares of 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 worth $55,000 after buying an additional 507 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Midland States Bancorp during the 3rd quarter valued at about $31,000. R Squared Ltd acquired a new position in Midland States Bancorp during the fourth quarter worth about $39,000. Point72 Asset Management L.P. purchased a new stake in shares of Midland States Bancorp in the third quarter valued at about $45,000. Finally, SG Americas Securities LLC grew its position in shares of Midland States Bancorp by 14.8% in the fourth quarter. SG Americas Securities LLC now owns 16,317 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 2,103 shares during the last quarter. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

Midland States Bancorp Company Profile

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.