Hennessy Advisors Inc. Has $1.83 Million Stock Holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Hennessy Advisors Inc. reduced its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 25.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,000 shares of the financial services provider’s stock after selling 25,000 shares during the period. Hennessy Advisors Inc.’s holdings in Midland States Bancorp were worth $1,830,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new position in shares of Midland States Bancorp during the 3rd quarter worth $31,000. Point72 Asset Management L.P. acquired a new position in Midland States Bancorp during the third quarter worth about $45,000. Quantbot Technologies LP boosted its stake in shares of Midland States Bancorp by 25.8% in the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 507 shares in the last quarter. US Bancorp DE grew its holdings in shares of Midland States Bancorp by 141.6% during the 3rd quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 2,229 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Midland States Bancorp during the 3rd quarter worth approximately $148,000. 60.93% of the stock is currently owned by institutional investors.

Midland States Bancorp Price Performance

Shares of NASDAQ:MSBI opened at $24.61 on Friday. The firm has a market cap of $526.65 million, a PE ratio of 10.65 and a beta of 0.76. Midland States Bancorp, Inc. has a 52 week low of $20.54 and a 52 week high of $28.10. The firm’s fifty day moving average is $25.57 and its 200-day moving average is $23.88. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.63 by $0.11. The firm had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. During the same period in the previous year, the business earned $0.78 EPS. Sell-side analysts predict that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend was Monday, November 18th. Midland States Bancorp’s dividend payout ratio is presently 53.68%.

Insiders Place Their Bets

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the transaction, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.60% of the company’s stock.

Wall Street Analyst Weigh In

MSBI has been the topic of a number of research analyst reports. Piper Sandler boosted their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price objective on Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, StockNews.com raised Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th.

Midland States Bancorp 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.