LSV Asset Management Cuts Holdings in Midland States Bancorp, Inc. $MSBI

LSV Asset Management reduced its position in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 9.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 296,089 shares of the financial services provider’s stock after selling 31,000 shares during the period. LSV Asset Management’s holdings in Midland States Bancorp were worth $6,268,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MSBI. Amundi raised its position in shares of Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after buying an additional 620 shares during the period. CIBC Private Wealth Group LLC purchased a new position in Midland States Bancorp in the third quarter valued at about $46,000. Daytona Street Capital LLC purchased a new position in Midland States Bancorp in the fourth quarter valued at about $107,000. Quantbot Technologies LP raised its position in Midland States Bancorp by 32.0% in the second quarter. Quantbot Technologies LP now owns 7,372 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 1,787 shares during the period. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Midland States Bancorp in the third quarter valued at about $184,000. 60.93% of the stock is owned by hedge funds and other institutional investors.

Midland States Bancorp Stock Up 1.8%

Shares of Midland States Bancorp stock opened at $28.14 on Wednesday. The business has a 50-day moving average of $24.50 and a 200-day moving average of $22.11. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The company has a market capitalization of $583.34 million, a PE ratio of 23.85 and a beta of 0.66. Midland States Bancorp, Inc. has a 1-year low of $14.24 and a 1-year high of $28.53.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.19. The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $75.59 million. Midland States Bancorp had a return on equity of 11.55% and a net margin of 7.53%. As a group, equities analysts forecast that Midland States Bancorp, Inc. will post 3.17 EPS for the current fiscal year.

Midland States Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 15th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, May 15th. This represents a $1.28 annualized dividend and a dividend yield of 4.5%. Midland States Bancorp’s dividend payout ratio (DPR) is currently 108.47%.

Midland States Bancorp announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 6th that allows the company to buyback $45.00 million in shares. This buyback authorization allows the financial services provider to purchase up to 8% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

MSBI has been the topic of several research reports. DA Davidson raised their price objective on Midland States Bancorp from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings raised Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Zacks Research raised Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Wall Street Zen lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Piper Sandler raised their price objective on Midland States Bancorp from $25.50 to $28.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $23.90.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, Director Travis Franklin bought 9,400 shares of the stock in a transaction dated Tuesday, May 5th. The stock was bought at an average cost of $26.49 per share, for a total transaction of $249,006.00. Following the completion of the purchase, the director directly owned 9,400 shares of the company’s stock, valued at approximately $249,006. The trade was a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.57% of the stock is owned by corporate insiders.

Midland States Bancorp Profile

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.