Insider Selling: Midland States Bancorp (NASDAQ:MSBI) COO Sells $40,144.98 in Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) COO Kyle Owen Mooney sold 1,198 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $33.51, for a total transaction of $40,144.98. Following the completion of the sale, the chief operating officer directly owned 14,099 shares in the company, valued at $472,457.49. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Kyle Owen Mooney also recently made the following trade(s):

• On Tuesday, August 18th, Kyle Owen Mooney sold 489 shares of Midland States Bancorp stock. The shares were sold at an average price of $33.16, for a total value of $16,215.24.

Midland States Bancorp Trading Down 2.5%

MSBI opened at $32.31 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50 day moving average price is $31.57 and its 200-day moving average price is $26.87. Midland States Bancorp, Inc. has a one year low of $14.24 and a one year high of $35.10. The stock has a market cap of $670.43 million, a price-to-earnings ratio of 20.71 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $83.74 million during the quarter, compared to analyst estimates of $80.70 million. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. On average, equities analysts forecast that Midland States Bancorp, Inc. will post 3.4 EPS for the current year.

Midland States Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 14th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.1%. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, August 14th. Midland States Bancorp’s dividend payout ratio is 84.62%.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on MSBI shares. DA Davidson raised their price target on shares of Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Piper Sandler boosted their price objective on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Keefe, Bruyette & Woods upped their target price on shares of Midland States Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Midland States Bancorp in a research report on Friday, July 31st. Finally, Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $29.10.

Hedge Funds Weigh In On Midland States Bancorp

Several institutional investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co lifted its holdings in Midland States Bancorp by 33.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock worth $43,000 after buying an additional 503 shares during the period. Amundi increased its holdings 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 valued at $38,000 after acquiring an additional 620 shares during the period. Commonwealth Equity Services LLC raised its position in shares of Midland States Bancorp by 2.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 41,792 shares of the financial services provider’s stock worth $885,000 after acquiring an additional 992 shares in the last quarter. First Trust Advisors LP raised its position in shares of Midland States Bancorp by 8.1% in the 2nd quarter. First Trust Advisors LP now owns 14,385 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 1,084 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Midland States Bancorp by 12.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,334 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 1,403 shares during the last quarter. 60.93% of the stock is owned by hedge funds and other 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.