PDT Partners LLC Acquires New Stake in Midland States Bancorp, Inc. (NASDAQ:MSBI)

PDT Partners LLC acquired a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 13,390 shares of the financial services provider’s stock, valued at approximately $300,000. PDT Partners LLC owned 0.06% of Midland States Bancorp at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MSBI. American Century Companies Inc. boosted its holdings in Midland States Bancorp by 16.0% during the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock worth $9,107,000 after buying an additional 55,555 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Midland States Bancorp by 69.6% during the second quarter. Acadian Asset Management LLC now owns 74,722 shares of the financial services provider’s stock worth $1,691,000 after buying an additional 30,677 shares in the last quarter. Bank of Montreal Can bought a new stake in Midland States Bancorp during the second quarter worth approximately $1,350,000. Hsbc Holdings PLC boosted its holdings in Midland States Bancorp by 9.9% during the second quarter. Hsbc Holdings PLC now owns 28,562 shares of the financial services provider’s stock worth $652,000 after buying an additional 2,562 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Midland States Bancorp by 47.5% during the third quarter. SG Americas Securities LLC now owns 14,214 shares of the financial services provider’s stock worth $318,000 after buying an additional 4,576 shares in the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Piper Sandler raised their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 5.60% of the company’s stock.

Midland States Bancorp Trading Down 1.8 %

Midland States Bancorp stock opened at $26.58 on Wednesday. The company has a 50 day moving average price of $24.60 and a 200 day moving average price of $23.29. Midland States Bancorp, Inc. has a 52 week low of $20.54 and a 52 week high of $28.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market capitalization of $568.81 million, a price-to-earnings ratio of 11.51 and a beta of 0.75.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. The firm had revenue of $124.17 million during the quarter, compared to analyst estimates of $72.90 million. During the same quarter last year, the business posted $0.78 EPS. Research analysts forecast that Midland States Bancorp, Inc. will post 2.16 EPS for the current year.

Midland States Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend was Monday, November 18th. Midland States Bancorp’s dividend payout ratio (DPR) is currently 53.68%.

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.