Hennessy Advisors Inc. Has $1.83 Million Holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Hennessy Advisors Inc. decreased its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 25.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,000 shares of the financial services provider’s stock after selling 25,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.35% of Midland States Bancorp worth $1,830,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MSBI. Jacobs Levy Equity Management Inc. increased its holdings in Midland States Bancorp by 31.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock worth $1,996,000 after purchasing an additional 21,416 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Midland States Bancorp by 51.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,370 shares of the financial services provider’s stock worth $657,000 after buying an additional 9,953 shares in the last quarter. Barclays PLC raised its position in Midland States Bancorp by 55.2% in the 3rd quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock valued at $1,463,000 after buying an additional 23,242 shares during the last quarter. American Century Companies Inc. lifted its stake in Midland States Bancorp by 16.0% in the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after acquiring an additional 55,555 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Midland States Bancorp by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock worth $11,460,000 after acquiring an additional 2,294 shares during the last quarter. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value 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 approximately $8,433,286.20. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.60% of the company’s stock.

Midland States Bancorp Price Performance

NASDAQ:MSBI opened at $24.61 on Friday. The firm’s fifty day moving average price is $25.57 and its two-hundred day moving average price is $23.88. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $526.65 million, a P/E ratio of 10.65 and a beta of 0.76. Midland States Bancorp, Inc. has a one year low of $20.54 and a one year high of $28.10.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $72.90 million. During the same period in the prior year, the firm earned $0.78 EPS. Equities analysts expect that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a $0.31 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.24 annualized dividend and a yield of 5.04%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Analysts Set New Price Targets

A number of analysts have recently commented on MSBI shares. StockNews.com raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods upped their price objective on Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler upped their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th.

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.