Midland States Bancorp, Inc. (NASDAQ:MSBI) Short Interest Update

Midland States Bancorp, Inc. (NASDAQ:MSBI) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 224,000 shares, a decrease of 19.0% from the December 15th total of 276,700 shares. Based on an average daily volume of 77,900 shares, the short-interest ratio is currently 2.9 days. Approximately 1.1% of the shares of the company are short sold.

Analysts Set New Price Targets

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

Midland States Bancorp Price Performance

Midland States Bancorp stock traded up $0.37 during midday trading on Friday, hitting $24.61. The company’s stock had a trading volume of 70,022 shares, compared to its average volume of 59,912. Midland States Bancorp has a 12 month low of $20.54 and a 12 month high of $28.10. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $526.65 million, a PE ratio of 10.65 and a beta of 0.76. The stock’s 50-day moving average price is $25.57 and its 200-day moving average price is $23.87.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The business had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. During the same period in the previous year, the firm earned $0.78 EPS. Analysts anticipate that Midland States Bancorp will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.04%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Insiders Place Their Bets

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the transaction, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at approximately $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Midland States Bancorp

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

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.