Short Interest in Midland States Bancorp, Inc. (NASDAQ:MSBI) Drops By 12.8%

Midland States Bancorp, Inc. (NASDAQ:MSBI) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totalling 230,100 shares, a decrease of 12.8% from the May 31st total of 264,000 shares. Based on an average trading volume of 60,800 shares, the short-interest ratio is currently 3.8 days. Approximately 1.1% of the shares of the company are short sold.

Insider Buying and Selling at Midland States Bancorp

In related news, Director Jeffrey M. Mcdonnell bought 2,290 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was acquired at an average cost of $21.80 per share, with a total value of $49,922.00. Following the acquisition, the director now owns 24,245 shares in the company, valued at approximately $528,541. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Donald J. Spring sold 1,197 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $22.00, for a total value of $26,334.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,015 shares of the company’s stock, valued at approximately $264,330. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey M. Mcdonnell bought 2,290 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was bought at an average cost of $21.80 per share, with a total value of $49,922.00. Following the completion of the acquisition, the director now owns 24,245 shares in the company, valued at approximately $528,541. The disclosure for this purchase can be found here. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its stake in Midland States Bancorp by 27.5% during the 3rd quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock worth $5,147,000 after buying an additional 54,090 shares during the period. American Century Companies Inc. raised its stake in Midland States Bancorp by 11.3% during the 3rd quarter. American Century Companies Inc. now owns 239,352 shares of the financial services provider’s stock worth $4,916,000 after buying an additional 24,320 shares during the period. Vanguard Group Inc. raised its stake in Midland States Bancorp by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,110,782 shares of the financial services provider’s stock worth $22,815,000 after buying an additional 7,132 shares during the period. International Assets Investment Management LLC raised its stake in Midland States Bancorp by 2,688.1% during the 4th quarter. International Assets Investment Management LLC now owns 7,723 shares of the financial services provider’s stock worth $213,000 after buying an additional 7,446 shares during the period. Finally, Federated Hermes Inc. raised its stake in Midland States Bancorp by 55.0% during the 4th quarter. Federated Hermes Inc. now owns 40,277 shares of the financial services provider’s stock worth $1,110,000 after buying an additional 14,286 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Stephens decreased their price target on Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods decreased their price objective on Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 30th. Finally, Piper Sandler decreased their price objective on Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $25.63.

Midland States Bancorp Stock Up 2.1 %

Shares of MSBI opened at $22.65 on Friday. The firm has a market capitalization of $486.52 million, a price-to-earnings ratio of 7.70 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.92. The business’s fifty day moving average price is $22.76 and its two-hundred day moving average price is $24.43. Midland States Bancorp has a 52 week low of $19.61 and a 52 week high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). The company had revenue of $122.86 million during the quarter, compared to analyst estimates of $75.05 million. Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.50%. During the same period last year, the company earned $0.88 EPS. On average, analysts predict that Midland States Bancorp will post 2.7 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend was Thursday, May 16th. Midland States Bancorp’s dividend payout ratio (DPR) is currently 42.18%.

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.