Midland States Bancorp, Inc. (NASDAQ:MSBI) Short Interest Down 17.8% in August

Midland States Bancorp, Inc. (NASDAQ:MSBI) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 177,300 shares, a decrease of 17.8% from the August 15th total of 215,700 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 108,600 shares, the short-interest ratio is currently 1.6 days.

Wall Street Analyst Weigh In

MSBI has been the topic of several research analyst reports. Piper Sandler boosted their price target on Midland States Bancorp from $24.50 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods dropped their target price on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in shares of Midland States Bancorp by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,371,940 shares of the financial services provider’s stock valued at $37,811,000 after acquiring an additional 37,813 shares in the last quarter. American Century Companies Inc. lifted its holdings in Midland States Bancorp by 16.0% in the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after purchasing an additional 55,555 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Midland States Bancorp by 6.7% in the second quarter. Bank of New York Mellon Corp now owns 165,615 shares of the financial services provider’s stock valued at $3,751,000 after buying an additional 10,354 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Midland States Bancorp by 5.7% in the fourth quarter. Wellington Management Group LLP now owns 132,424 shares of the financial services provider’s stock worth $3,650,000 after buying an additional 7,103 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in Midland States Bancorp during the fourth quarter worth about $3,032,000. 60.93% of the stock is owned by hedge funds and other institutional investors.

Midland States Bancorp Price Performance

NASDAQ:MSBI opened at $22.58 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.10. Midland States Bancorp has a 52 week low of $19.85 and a 52 week high of $28.47. The stock’s 50-day moving average price is $22.78 and its 200-day moving average price is $23.09. The stock has a market capitalization of $485.06 million, a PE ratio of 7.68 and a beta of 0.76.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.52). The business had revenue of $120.95 million during the quarter, compared to analyst estimates of $74.90 million. Midland States Bancorp had a net margin of 12.10% and a return on equity of 9.24%. During the same period in the previous year, the business posted $0.87 earnings per share. As a group, equities analysts expect that Midland States Bancorp will post 1.99 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, August 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.49%. Midland States Bancorp’s dividend payout ratio is currently 42.18%.

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.