Midland States Bancorp, Inc. (NASDAQ:MSBI – Get Rating)’s stock price reached a new 52-week low on Thursday after Piper Sandler lowered their price target on the stock to $27.00. The company traded as low as $23.52 and last traded at $23.74, with a volume of 225 shares trading hands. The stock had previously closed at $24.33.
A number of other equities research analysts have also commented on MSBI. Raymond James started coverage on Midland States Bancorp in a research report on Thursday, September 1st. They set a “market perform” rating for the company. Stephens raised their price objective on Midland States Bancorp to $32.00 in a research report on Tuesday, August 23rd.
Insider Activity
In other news, President Jeffrey S. Mefford sold 1,600 shares of Midland States Bancorp stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $26.51, for a total transaction of $42,416.00. Following the completion of the sale, the president now directly owns 27,975 shares in the company, valued at approximately $741,617.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, President Jeffrey S. Mefford sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $26.51, for a total value of $42,416.00. Following the transaction, the president now directly owns 27,975 shares of the company’s stock, valued at approximately $741,617.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jerry L. Mcdaniel acquired 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The stock was bought at an average cost of $25.00 per share, for a total transaction of $1,000,000.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at approximately $500,000. The disclosure for this purchase can be found here. 5.80% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC raised its stake in shares of Midland States Bancorp by 1,195.7% in the 1st quarter. Lindbrook Capital LLC now owns 894 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 825 shares in the last quarter. Swiss National Bank raised its stake in shares of Midland States Bancorp by 5.5% in the 1st quarter. Swiss National Bank now owns 49,500 shares of the financial services provider’s stock valued at $1,429,000 after acquiring an additional 2,600 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Midland States Bancorp by 23.4% in the 1st quarter. Assenagon Asset Management S.A. now owns 79,320 shares of the financial services provider’s stock valued at $2,289,000 after acquiring an additional 15,031 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in Midland States Bancorp in the 1st quarter worth approximately $286,000. Finally, Acadian Asset Management LLC increased its position in Midland States Bancorp by 102.0% in the 1st quarter. Acadian Asset Management LLC now owns 51,559 shares of the financial services provider’s stock worth $1,486,000 after buying an additional 26,036 shares during the period. 61.87% of the stock is owned by institutional investors.
Midland States Bancorp Trading Down 2.9 %
The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.95 and a current ratio of 0.95. The company has a 50-day simple moving average of $26.16 and a 200 day simple moving average of $26.33. The company has a market capitalization of $521.51 million, a P/E ratio of 6.27 and a beta of 0.90.
Midland States Bancorp (NASDAQ:MSBI – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The company had revenue of $75.95 million for the quarter, compared to the consensus estimate of $75.80 million. Midland States Bancorp had a return on equity of 13.53% and a net margin of 26.75%. During the same period in the previous year, the business posted $0.86 EPS. Sell-side analysts expect that Midland States Bancorp, Inc. will post 3.86 earnings per share for the current year.
Midland States Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 19th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 4.91%. The ex-dividend date of this dividend was Thursday, August 18th. Midland States Bancorp’s dividend payout ratio is currently 30.77%.
Midland States Bancorp Company Profile
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 accepts various deposits, such as checking, savings, money market, and sweep accounts, as well as certificates of deposits.