Jefferies Financial Group Inc. Takes $710,000 Position in Midland States Bancorp, Inc. $MSBI

Jefferies Financial Group Inc. purchased a new stake in Midland States Bancorp, Inc. (NASDAQ:MSBI) during the second quarter, according to its most recent filing with the SEC. The firm purchased 22,802 shares of the financial services provider’s stock, valued at approximately $710,000. Jefferies Financial Group Inc. owned 0.11% of Midland States Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in Midland States Bancorp in the second quarter valued at approximately $90,950,000. Patriot Financial Partners GP II L.P. bought a new position in shares of Midland States Bancorp during the first quarter worth $9,783,000. AQR Capital Management LLC grew its holdings in shares of Midland States Bancorp by 38.1% in the 2nd quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock valued at $9,370,000 after buying an additional 149,175 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Midland States Bancorp in the 2nd quarter valued at $3,941,000. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Midland States Bancorp by 97.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider’s stock valued at $5,046,000 after buying an additional 117,422 shares in the last quarter. Institutional investors own 60.93% of the company’s stock.

Insider Activity

In related news, COO Kyle Owen Mooney sold 1,198 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer directly owned 14,099 shares of the company’s stock, valued at approximately $472,457.49. This represents a 7.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey G. Ludwig sold 8,383 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were 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 owned 400,971 shares of the company’s stock, valued at approximately $13,633,014. This represents a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,070 shares of company stock worth $341,382 in the last quarter. 8.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MSBI shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Midland States Bancorp in a research note on Friday, July 31st. Wall Street Zen downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. DA Davidson boosted their price objective on Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods boosted their price target on Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Finally, Piper Sandler boosted their target price on Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.10.

Midland States Bancorp Price Performance

Midland States Bancorp stock opened at $33.00 on Monday. 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 1-year low of $14.24 and a 1-year high of $35.10. The company has a fifty day simple moving average of $32.03 and a 200 day simple moving average of $27.33. The company has a market cap of $684.75 million, a P/E ratio of 21.15 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 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. The firm had revenue of $83.74 million for the quarter, compared to analysts’ expectations of $80.70 million. Research analysts anticipate that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current fiscal year.

Midland States Bancorp declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 6th that permits the company to repurchase $45.00 million in shares. This repurchase authorization permits the financial services provider to buy up to 8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Midland States Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were issued a dividend of $0.33 per share. The ex-dividend date was Friday, August 14th. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 4.0%. Midland States Bancorp’s dividend payout ratio is currently 84.62%.

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.