Jeffrey S. Mefford Sells 1,600 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) Stock

Midland States Bancorp, Inc. (NASDAQ:MSBIGet Rating) President Jeffrey S. Mefford sold 1,600 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $28.11, for a total transaction of $44,976.00. Following the transaction, the president now owns 26,375 shares in the company, valued at approximately $741,401.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Midland States Bancorp Stock Down 3.0 %

MSBI opened at $26.71 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.74. Midland States Bancorp, Inc. has a 1-year low of $23.48 and a 1-year high of $30.60. The company has a market capitalization of $589.49 million, a PE ratio of 6.76 and a beta of 0.93. The firm’s 50 day simple moving average is $25.60 and its two-hundred day simple moving average is $25.84.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 21st. Shareholders of record on Monday, November 14th will be given a $0.29 dividend. The ex-dividend date is Thursday, November 10th. This represents a $1.16 annualized dividend and a yield of 4.34%. Midland States Bancorp’s payout ratio is presently 29.37%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MSBI shares. StockNews.com started coverage on shares of Midland States Bancorp in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. DA Davidson increased their price objective on shares of Midland States Bancorp to $29.00 in a research report on Thursday, October 27th. Stephens lowered their price objective on shares of Midland States Bancorp from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, October 24th. Piper Sandler lowered their price objective on shares of Midland States Bancorp to $27.00 in a research report on Thursday, September 29th. Finally, Raymond James started coverage on shares of Midland States Bancorp in a research report on Thursday, September 1st. They issued a “market perform” rating on the stock.

Institutional Trading of Midland States Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Midland States Bancorp by 1.1% in the third quarter. Victory Capital Management Inc. now owns 35,145 shares of the financial services provider’s stock worth $828,000 after purchasing an additional 390 shares in the last quarter. Strs Ohio increased its stake in shares of Midland States Bancorp by 1.9% in the third quarter. Strs Ohio now owns 26,400 shares of the financial services provider’s stock worth $622,000 after purchasing an additional 500 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Midland States Bancorp by 36.5% in the first quarter. Great West Life Assurance Co. Can now owns 2,063 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 552 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Midland States Bancorp by 10.4% in the second quarter. Legal & General Group Plc now owns 7,161 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 672 shares in the last quarter. Finally, Quantbot Technologies LP increased its stake in shares of Midland States Bancorp by 86.7% in the second quarter. Quantbot Technologies LP now owns 1,680 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 780 shares in the last quarter. 61.87% of the stock is owned by hedge funds and other institutional investors.

About Midland States Bancorp

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Midland States Bancorp, Inc is a bank holding company engaged in the provision of commercial and consumer banking products and services. It operates through the following segments: Banking, Wealth Management, and Other. The Banking segment offers financial products and services such as loans, mortgage loan sales and servicing, letters of credit, deposit products, merchant services, and corporate treasury management services.

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Insider Buying and Selling by Quarter for Midland States Bancorp (NASDAQ:MSBI)

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