Midland States Bancorp, Inc. $MSBI Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its stake in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 15.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 890,800 shares of the financial services provider’s stock after selling 160,022 shares during the period. Dimensional Fund Advisors LP owned about 4.30% of Midland States Bancorp worth $19,873,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of 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. Amundi boosted 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 buying an additional 620 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Midland States Bancorp during the third quarter worth $46,000. Quadrant Capital Group LLC grew its position in Midland States Bancorp by 302.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock valued at $97,000 after buying an additional 3,457 shares during the period. Finally, Quantbot Technologies LP grew its position in Midland States Bancorp by 32.0% during the second quarter. Quantbot Technologies LP now owns 7,372 shares of the financial services provider’s stock valued at $128,000 after buying an additional 1,787 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.

Wall Street Analysts Forecast Growth

MSBI has been the subject of a number of recent analyst reports. Piper Sandler lifted their price objective on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods upped their price target on Midland States Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Midland States Bancorp in a report on Friday, July 31st. Wall Street Zen raised Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $29.10.

Insider Activity at Midland States Bancorp

In related news, CEO Jeffrey G. Ludwig sold 8,383 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total value of $285,022.00. Following the completion of the transaction, the chief executive officer directly owned 400,971 shares of the company’s stock, valued at approximately $13,633,014. This represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.57% of the company’s stock.

Midland States Bancorp Trading Down 1.4%

Shares of Midland States Bancorp stock opened at $33.76 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73. Midland States Bancorp, Inc. has a twelve month low of $14.24 and a twelve month high of $35.10. The firm has a market capitalization of $700.52 million, a PE ratio of 21.64 and a beta of 0.66. The firm’s 50-day moving average price is $30.68 and its 200 day moving average price is $26.23.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%.The company had revenue of $83.74 million during the quarter, compared to analyst estimates of $80.70 million. On average, sell-side analysts predict that Midland States Bancorp, Inc. will post 3.4 EPS for the current fiscal year.

Midland States Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 14th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, August 14th. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 3.9%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 82.05%.

Midland States Bancorp declared that its board has authorized a stock buyback program on Wednesday, May 6th that allows the company to repurchase $45.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Midland States Bancorp Company 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.