Midland States Bancorp, Inc. (NASDAQ:MSBI) CEO Sells $312,703.56 in Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the sale, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at approximately $8,433,286.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Midland States Bancorp Trading Down 0.1 %

NASDAQ MSBI traded down $0.02 during trading on Tuesday, reaching $24.65. 129,722 shares of the stock traded hands, compared to its average volume of 79,009. The firm has a market cap of $527.26 million, a price-to-earnings ratio of 10.73 and a beta of 0.75. The stock’s 50-day moving average price is $22.52 and its 200 day moving average price is $22.74. 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, Inc. has a fifty-two week low of $20.54 and a fifty-two week high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $124.17 million during the quarter, compared to analysts’ expectations of $72.90 million. Midland States Bancorp had a net margin of 12.13% and a return on equity of 9.00%. During the same quarter in the previous year, the company earned $0.78 earnings per share. Analysts predict that Midland States Bancorp, Inc. will post 2 EPS for the current year.

Midland States Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend was Friday, August 16th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Analyst Ratings Changes

A number of research firms recently weighed in on MSBI. Piper Sandler boosted their price target 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. Keefe, Bruyette & Woods decreased their price objective on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, July 29th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. boosted its holdings in shares of Midland States Bancorp by 16.0% in the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after buying an additional 55,555 shares during the period. Bank of New York Mellon Corp boosted its holdings 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 period. Wellington Management Group LLP boosted its holdings 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 valued at $3,650,000 after buying an additional 7,103 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Midland States Bancorp by 7.4% in the first quarter. Russell Investments Group Ltd. now owns 92,589 shares of the financial services provider’s stock valued at $2,327,000 after buying an additional 6,371 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Midland States Bancorp by 69.6% in the second quarter. Acadian Asset Management LLC now owns 74,722 shares of the financial services provider’s stock valued at $1,691,000 after buying an additional 30,677 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.

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.