Jeffrey C. Smith Purchases 650 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) Director Jeffrey C. Smith purchased 650 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were purchased at an average price of $18.96 per share, for a total transaction of $12,324.00. Following the purchase, the director now owns 33,609 shares of the company’s stock, valued at approximately $637,226.64. This trade represents a 1.97 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Midland States Bancorp Stock Up 2.0 %

Shares of Midland States Bancorp stock opened at $19.67 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. The company has a market cap of $420.96 million, a P/E ratio of 8.52 and a beta of 0.76. The firm’s 50 day moving average price is $24.84 and its 200-day moving average price is $23.86. Midland States Bancorp, Inc. has a 52-week low of $18.75 and a 52-week high of $28.10.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that Midland States Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s dividend payout ratio (DPR) is presently -118.10%.

Institutional Investors Weigh In On Midland States Bancorp

Large investors have recently modified their holdings of the business. State Street Corp raised its position in shares of Midland States Bancorp by 2.5% in the 3rd quarter. State Street Corp now owns 587,947 shares of the financial services provider’s stock valued at $13,158,000 after purchasing an additional 14,157 shares during the last quarter. Geode Capital Management LLC increased its stake in Midland States Bancorp by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock valued at $11,460,000 after purchasing an additional 2,294 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Midland States Bancorp during the third quarter worth $5,764,000. JPMorgan Chase & Co. lifted its stake in shares of Midland States Bancorp by 52.3% during the third quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock worth $2,469,000 after buying an additional 37,889 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Midland States Bancorp by 31.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock valued at $1,996,000 after buying an additional 21,416 shares during the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MSBI. Keefe, Bruyette & Woods cut their target price on shares of Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a research report on Monday. DA Davidson dropped their price objective on shares of Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday. Piper Sandler reduced their price objective on shares of Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, StockNews.com cut Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.50.

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.