Fmr LLC Raises Stake in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Fmr LLC increased its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 13.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,999 shares of the financial services provider’s stock after purchasing an additional 2,669 shares during the period. Fmr LLC owned 0.10% of Midland States Bancorp worth $492,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quantbot Technologies LP lifted its holdings in Midland States Bancorp by 25.8% in the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 507 shares in the last quarter. Quest Partners LLC bought a new position in shares of Midland States Bancorp in the 3rd quarter valued at about $148,000. Thrivent Financial for Lutherans increased its position in shares of Midland States Bancorp by 4.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 71,667 shares of the financial services provider’s stock valued at $1,604,000 after purchasing an additional 3,027 shares during the last quarter. Empowered Funds LLC raised its holdings in Midland States Bancorp by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 73,651 shares of the financial services provider’s stock valued at $1,648,000 after buying an additional 3,752 shares during the period. Finally, Summit Global Investments purchased a new stake in Midland States Bancorp during the 3rd quarter valued at $251,000. 60.93% of the stock is currently owned by institutional investors.

Insider Activity at Midland States Bancorp

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

Midland States Bancorp Stock Performance

Shares of Midland States Bancorp stock opened at $24.57 on Thursday. Midland States Bancorp, Inc. has a 52 week low of $20.54 and a 52 week high of $28.47. The company has a market capitalization of $525.82 million, a PE ratio of 10.64 and a beta of 0.75. The stock’s fifty day moving average is $25.56 and its two-hundred day moving average is $23.56. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly 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. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. The firm had revenue of $124.17 million for the quarter, compared to analysts’ expectations of $72.90 million. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, analysts expect that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s dividend payout ratio is presently 53.68%.

Wall Street Analysts Forecast Growth

MSBI has been the topic of a number of analyst reports. StockNews.com cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods upped their price target on shares of Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler increased their price objective on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th.

Midland States Bancorp 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 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.