Midland States Bancorp, Inc. (NASDAQ:MSBI) Short Interest Up 35.1% in March

Midland States Bancorp, Inc. (NASDAQ:MSBI) was the target of a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 603,020 shares, a growth of 35.1% from the February 26th total of 446,225 shares. Currently, 3.0% of the shares of the company are sold short. Based on an average daily volume of 114,615 shares, the days-to-cover ratio is currently 5.3 days.

Analyst Ratings Changes

A number of research firms have issued reports on MSBI. Zacks Research cut Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Midland States Bancorp in a report on Monday, December 29th. DA Davidson lifted their price objective on shares of Midland States Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 26th. Keefe, Bruyette & Woods boosted their target price on shares of Midland States Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Monday, December 8th. Finally, Wall Street Zen upgraded shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $23.00.

Midland States Bancorp Stock Performance

Shares of NASDAQ:MSBI traded down $0.20 on Friday, hitting $21.74. The company’s stock had a trading volume of 94,520 shares, compared to its average volume of 133,057. Midland States Bancorp has a 12 month low of $14.24 and a 12 month high of $24.57. The company has a market capitalization of $466.76 million, a price-to-earnings ratio of 21.52 and a beta of 0.62. The stock’s 50-day moving average is $22.47 and its two-hundred day moving average is $19.73. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.17). The company had revenue of $85.79 million for the quarter, compared to the consensus estimate of $74.49 million. Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.47%. On average, equities research analysts forecast that Midland States Bancorp will post 2.53 EPS for the current year.

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date was Friday, February 13th. Midland States Bancorp’s payout ratio is 126.73%.

Insider Activity

In related news, COO Kyle Owen Mooney sold 2,808 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $22.67, for a total value of $63,657.36. Following the sale, the chief operating officer owned 14,207 shares of the company’s stock, valued at approximately $322,072.69. This trade represents a 16.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 5.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi raised its holdings in Midland States Bancorp by 39.4% during the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 620 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Midland States Bancorp by 33.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 503 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in Midland States Bancorp during the 3rd quarter valued at $46,000. Quadrant Capital Group LLC increased its position in shares of Midland States Bancorp by 302.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock valued at $97,000 after purchasing an additional 3,457 shares during the period. Finally, Daytona Street Capital LLC bought a new stake in shares of Midland States Bancorp in the 4th quarter worth $107,000. 60.93% of the stock is currently owned by institutional investors.

About Midland States Bancorp

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.