Midland States Bancorp (NASDAQ:MSBI) Insider Acquires $89,450.00 in Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) insider Daniel Edward Casey acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were bought at an average cost of $17.89 per share, for a total transaction of $89,450.00. Following the transaction, the insider directly owned 28,254 shares of the company’s stock, valued at approximately $505,464.06. This trade represents a 21.50% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Midland States Bancorp Stock Up 6.1%

NASDAQ:MSBI traded up $1.15 during midday trading on Thursday, reaching $19.94. The company had a trading volume of 239,536 shares, compared to its average volume of 134,177. Midland States Bancorp, Inc. has a 12-month low of $14.24 and a 12-month high of $27.36. The firm has a market capitalization of $429.75 million, a price-to-earnings ratio of -15.72 and a beta of 0.69. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. The stock’s fifty day simple moving average is $16.32 and its 200-day simple moving average is $17.20.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Wednesday, March 23rd. The financial services provider reported $0.54 earnings per share for the quarter. The firm had revenue of $70.61 million for the quarter. Midland States Bancorp had a negative net margin of 3.80% and a negative return on equity of 3.63%. On average, sell-side analysts anticipate that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were given a dividend of $0.32 per share. The ex-dividend date was Friday, November 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.4%. Midland States Bancorp’s payout ratio is -100.79%.

Midland States Bancorp declared that its board has approved a stock repurchase program on Monday, November 3rd that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 7.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

MSBI has been the topic of a number of research reports. Stephens upgraded shares of Midland States Bancorp to a “hold” rating in a research report on Thursday, September 11th. Wall Street Zen upgraded shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Piper Sandler lifted their price objective on shares of Midland States Bancorp from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday. Zacks Research downgraded shares of Midland States Bancorp from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Midland States Bancorp in a report on Monday, November 24th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Midland States Bancorp currently has an average rating of “Reduce” and a consensus price target of $19.50.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Amundi boosted its holdings in Midland States Bancorp by 39.4% in 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 in the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Midland States Bancorp by 5.3% in the 2nd quarter. Valeo Financial Advisors LLC now owns 19,126 shares of the financial services provider’s stock valued at $331,000 after buying an additional 955 shares during the period. Federated Hermes Inc. boosted its stake in shares of Midland States Bancorp by 3.4% in the third quarter. Federated Hermes Inc. now owns 32,790 shares of the financial services provider’s stock valued at $562,000 after buying an additional 1,071 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Midland States Bancorp by 8.1% in the second quarter. First Trust Advisors LP now owns 14,385 shares of the financial services provider’s stock valued at $249,000 after buying an additional 1,084 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its holdings in Midland States Bancorp by 5.9% during the second quarter. Campbell & CO Investment Adviser LLC now owns 27,459 shares of the financial services provider’s stock worth $476,000 after acquiring an additional 1,531 shares during the period. 60.93% of the stock is 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.