Man Group plc Takes Position in Midland States Bancorp, Inc. $MSBI

Man Group plc purchased a new stake in Midland States Bancorp, Inc. (NASDAQ:MSBI) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 30,174 shares of the financial services provider’s stock, valued at approximately $940,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amundi lifted its position in Midland States Bancorp by 39.4% during the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 620 shares during the period. Empowered Funds LLC raised its stake in shares of Midland States Bancorp by 3.5% during the first quarter. Empowered Funds LLC now owns 58,504 shares of the financial services provider’s stock worth $1,002,000 after buying an additional 2,004 shares during the last quarter. Jane Street Group LLC acquired a new position in Midland States Bancorp in the first quarter valued at approximately $354,000. Rhumbline Advisers lifted its holdings in Midland States Bancorp by 5.5% in the second quarter. Rhumbline Advisers now owns 32,343 shares of the financial services provider’s stock valued at $560,000 after buying an additional 1,687 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in Midland States Bancorp by 18.1% in the second quarter. Hsbc Holdings PLC now owns 33,166 shares of the financial services provider’s stock valued at $577,000 after acquiring an additional 5,075 shares during the last quarter. 60.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Wall Street Zen cut Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Midland States Bancorp in a report on Friday, July 31st. DA Davidson increased their target price on Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Piper Sandler raised their target price on Midland States Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.10.

Insider Transactions at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey Ludwig sold 8,383 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kyle Mooney sold 1,198 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $33.51, for a total value of $40,144.98. Following the completion of the sale, the chief operating officer owned 14,099 shares of the company’s stock, valued at $472,457.49. This trade represents a 7.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 10,070 shares of company stock valued at $341,382. Insiders own 8.57% of the company’s stock.

Midland States Bancorp Stock Up 0.9%

Shares of NASDAQ:MSBI opened at $33.53 on Friday. The company has a 50 day moving average price of $32.26 and a two-hundred day moving average price of $27.60. 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 $695.75 million, a PE ratio of 21.49 and a beta of 0.65. Midland States Bancorp, Inc. has a 52 week low of $14.24 and a 52 week high of $35.10.

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 for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $80.70 million. Analysts forecast that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current year.

Midland States Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were issued a dividend of $0.33 per share. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, August 14th. Midland States Bancorp’s dividend payout ratio is presently 84.62%.

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.