Midland States Bancorp, Inc. (NASDAQ:MSBI) Director Buys $12,324.00 in Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) Director Jeffrey C. Smith purchased 650 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, January 28th. The shares were bought at an average price of $18.96 per share, for a total transaction of $12,324.00. Following the completion of the transaction, the director now owns 33,609 shares in the company, valued at $637,226.64. The trade was a 1.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Midland States Bancorp Stock Down 3.9 %

Shares of MSBI stock traded down $0.79 during midday trading on Tuesday, reaching $19.28. 281,769 shares of the stock were exchanged, compared to its average volume of 124,525. Midland States Bancorp, Inc. has a 1 year low of $18.75 and a 1 year high of $28.10. The firm has a market cap of $412.59 million, a PE ratio of 8.35 and a beta of 0.76. The company’s 50 day moving average is $25.12 and its two-hundred day moving average is $23.91. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. On average, equities research analysts predict that Midland States Bancorp, Inc. will post 2.16 EPS for the current year.

Midland States Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 6.43%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s dividend payout ratio is presently 53.68%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler decreased their target price on shares of Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday. DA Davidson lowered their price objective on shares of Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods cut their target price on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.50.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Point72 DIFC Ltd purchased a new position in Midland States Bancorp in the 3rd quarter worth approximately $31,000. R Squared Ltd bought a new stake in shares of Midland States Bancorp in the fourth quarter worth about $39,000. Point72 Asset Management L.P. bought a new position in Midland States Bancorp during the third quarter valued at approximately $45,000. Quantbot Technologies LP grew its holdings in Midland States Bancorp by 25.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after buying an additional 507 shares in the last quarter. Finally, US Bancorp DE increased its stake in Midland States Bancorp by 141.6% in the 3rd quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 2,229 shares during the last quarter. 60.93% of the stock is owned by hedge funds and other institutional investors.

About Midland States Bancorp

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.