Jeffrey C. Smith Acquires 650 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) Director Jeffrey C. Smith bought 650 shares of the stock in a transaction on Tuesday, January 28th. The shares were purchased at an average price of $18.96 per share, with a total value of $12,324.00. Following the acquisition, the director now owns 33,609 shares in the company, valued at approximately $637,226.64. This represents a 1.97 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Midland States Bancorp Stock Performance

NASDAQ:MSBI traded down $0.79 during trading hours on Tuesday, reaching $19.28. The stock had a trading volume of 281,769 shares, compared to its average volume of 124,525. The stock has a market cap of $412.59 million, a P/E ratio of 8.35 and a beta of 0.76. The stock has a 50 day simple moving average of $25.12 and a 200 day simple moving average of $23.91. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. Midland States Bancorp, Inc. has a 12-month low of $18.75 and a 12-month high of $28.10.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. On average, research analysts forecast that Midland States Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 6.43%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s payout ratio is 53.68%.

Institutional Investors Weigh In On Midland States Bancorp

Several large investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in Midland States Bancorp in the 3rd quarter worth about $31,000. R Squared Ltd bought a new position in shares of Midland States Bancorp in the fourth quarter worth approximately $39,000. Point72 Asset Management L.P. purchased a new stake in Midland States Bancorp in the third quarter valued at approximately $45,000. Quantbot Technologies LP lifted its position in Midland States Bancorp by 25.8% during the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 507 shares during the last quarter. Finally, US Bancorp DE lifted its position in Midland States Bancorp by 141.6% during the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 2,229 shares during the last quarter. Institutional investors own 60.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on MSBI. Keefe, Bruyette & Woods cut their price objective on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating for the company in a report on Monday. DA Davidson decreased their price target on Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday. Piper Sandler cut their target price on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, StockNews.com cut Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Midland States Bancorp currently has a consensus rating of “Hold” and an average target price of $23.50.

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.