Jeffrey Ludwig Sells 8,383 Shares of Midland States Bancorp (NASDAQ:MSBI) Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) CEO Jeffrey Ludwig sold 8,383 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total transaction of $285,022.00. Following the completion of the transaction, the chief executive officer directly owned 400,971 shares of the company’s stock, valued at approximately $13,633,014. The trade was a 2.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Midland States Bancorp Stock Performance

NASDAQ MSBI opened at $33.28 on Friday. The firm’s fifty day moving average price is $30.05 and its two-hundred day moving average price is $25.81. The stock has a market cap of $689.89 million, a PE ratio of 21.33 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 $34.35. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. The company had revenue of $83.74 million during the quarter, compared to the consensus estimate of $80.70 million. On average, equities analysts expect that Midland States Bancorp, Inc. will post 3.4 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 15th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, May 15th. Midland States Bancorp’s dividend payout ratio is presently 82.05%.

Midland States Bancorp declared that its Board of Directors has initiated a share repurchase program on Wednesday, May 6th that permits the company to repurchase $45.00 million in shares. This repurchase authorization permits the financial services provider to reacquire up to 8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently commented on MSBI shares. DA Davidson lifted their price target on Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Weiss Ratings upgraded shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Piper Sandler lifted their target price on shares of Midland States Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Midland States Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.10.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MSBI. Patriot Financial Partners GP II L.P. bought a new stake in Midland States Bancorp in the first quarter valued at $9,783,000. AQR Capital Management LLC boosted its position in shares of Midland States Bancorp by 38.1% during the 2nd quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock worth $9,370,000 after purchasing an additional 149,175 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Midland States Bancorp by 97.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider’s stock valued at $5,046,000 after buying an additional 117,422 shares during the period. Algert Global LLC bought a new stake in Midland States Bancorp in the 3rd quarter valued at about $1,297,000. Finally, Royal Bank of Canada raised its stake in Midland States Bancorp by 8,633.1% during the 4th quarter. Royal Bank of Canada now owns 68,555 shares of the financial services provider’s stock worth $1,451,000 after buying an additional 67,770 shares during the period. 60.93% of the stock is owned by institutional investors.

Midland States Bancorp Company Profile

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.