Point72 Asset Management L.P. Purchases New Shares in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Point72 Asset Management L.P. purchased a new position in Midland States Bancorp, Inc. (NASDAQ:MSBI) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,997 shares of the financial services provider’s stock, valued at approximately $45,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP boosted its holdings in shares of Midland States Bancorp by 25.8% in the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock worth $55,000 after buying an additional 507 shares during the period. Rhumbline Advisers lifted its position in shares of Midland States Bancorp by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider’s stock valued at $761,000 after acquiring an additional 683 shares in the last quarter. US Bancorp DE boosted 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 purchasing an additional 2,229 shares during the period. Wedge Capital Management L L P NC grew its position in Midland States Bancorp by 8.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 28,461 shares of the financial services provider’s stock worth $637,000 after purchasing an additional 2,295 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Midland States Bancorp by 9.9% during the 2nd quarter. Hsbc Holdings PLC now owns 28,562 shares of the financial services provider’s stock valued at $652,000 after purchasing an additional 2,562 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.

Wall Street Analyst Weigh In

MSBI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler raised their price objective on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Finally, StockNews.com downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, November 22nd.

Insider Activity at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the 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 transaction, the chief executive officer now owns 343,935 shares in the company, valued at $8,433,286.20. This represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.

Midland States Bancorp Trading Up 0.2 %

Midland States Bancorp stock opened at $26.45 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. Midland States Bancorp, Inc. has a 12 month low of $20.54 and a 12 month high of $28.47. The company’s fifty day simple moving average is $25.38 and its 200-day simple moving average is $23.50. The stock has a market cap of $566.03 million, a P/E ratio of 11.45 and a beta of 0.75.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. The firm had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. As a group, sell-side analysts forecast that Midland States Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 4.69%. Midland States Bancorp’s dividend payout ratio is currently 53.68%.

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.