Woodmont Investment Counsel LLC Buys New Stake in Midland States Bancorp, Inc. $MSBI

Woodmont Investment Counsel LLC acquired a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 27,901 shares of the financial services provider’s stock, valued at approximately $897,000. Woodmont Investment Counsel LLC owned 0.13% of Midland States Bancorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MSBI. BlackRock Inc. acquired a new stake in Midland States Bancorp in the second quarter worth $90,950,000. Patriot Financial Partners GP II L.P. acquired a new position in shares of Midland States Bancorp during the first quarter valued at $9,783,000. Bank of New York Mellon Corp acquired a new position in shares of Midland States Bancorp during the second quarter valued at $3,941,000. Bank of America Corp DE bought a new position in shares of Midland States Bancorp during the second quarter worth about $3,545,000. Finally, Empowered Funds LLC bought a new position in shares of Midland States Bancorp during the second quarter worth about $2,893,000. Institutional investors and hedge funds own 60.93% of the company’s stock.

Insider Transactions at Midland States Bancorp

In other news, COO Kyle Mooney sold 2,400 shares of Midland States Bancorp stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $33.33, for a total transaction of $79,992.00. Following the transaction, the chief operating officer directly owned 13,610 shares in the company, valued at approximately $453,621.30. This trade represents a 14.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 4,087 shares of company stock worth $136,352. Company insiders own 8.57% of the company’s stock.

Midland States Bancorp Stock Performance

Shares of MSBI opened at $32.81 on Monday. The firm has a 50-day moving average price of $32.96 and a 200 day moving average price of $28.18. The firm has a market capitalization of $680.87 million, a PE ratio of 14.45 and a beta of 0.66. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.03. 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 posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. Midland States Bancorp had a net margin of 12.80% and a return on equity of 17.13%. The business had revenue of $86.14 million during the quarter, compared to analysts’ expectations of $83.77 million. On average, sell-side analysts anticipate that Midland States Bancorp, Inc. will post 3.44 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, August 14th. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.32. Midland States Bancorp’s dividend payout ratio is 58.15%.

Wall Street Analysts Forecast Growth

MSBI has been the topic of several recent research reports. Piper Sandler lifted their price objective on shares of Midland States Bancorp from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Monday, October 26th. Weiss Ratings cut shares of Midland States Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, October 27th. DA Davidson raised their price target on shares of Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Stephens lifted their price target on Midland States Bancorp from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 27th. Finally, Wall Street Zen cut Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Six investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $32.50.

Midland States Bancorp Profile

Midland States Bancorp, Inc is a financial holding company headquartered in Effingham, Illinois. Through its principal subsidiary, Midland States Bank, the company provides banking, wealth management and specialty finance services to individuals, families and businesses.

Its banking operations offer deposit accounts, commercial and residential real estate loans, consumer lending, commercial and industrial financing, treasury management and other cash-management services. The company also provides wealth management, trust and investment services, as well as equipment financing and leasing solutions for business customers.

Founded in 1881, Midland States Bank serves communities primarily in Illinois, Wisconsin and Ohio through a network of banking offices and other channels.