State Street Corp Acquires 14,157 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

State Street Corp raised its holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 587,947 shares of the financial services provider’s stock after purchasing an additional 14,157 shares during the period. State Street Corp owned 2.75% of Midland States Bancorp worth $13,158,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd purchased a new position in Midland States Bancorp in the 3rd quarter valued at approximately $31,000. Point72 Asset Management L.P. purchased a new stake in shares of Midland States Bancorp during the third quarter worth $45,000. Quantbot Technologies LP boosted its holdings in shares of Midland States Bancorp by 25.8% in the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 507 shares during the period. US Bancorp DE grew its position in shares of Midland States Bancorp by 141.6% in the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 2,229 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Midland States Bancorp during the 3rd quarter valued at $148,000. Institutional investors own 60.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MSBI. StockNews.com downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. 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 report on Wednesday, December 4th. Finally, Piper Sandler upped their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th.

Midland States Bancorp Price Performance

Midland States Bancorp stock opened at $24.60 on Thursday. The stock has a market cap of $526.46 million, a price-to-earnings ratio of 10.65 and a beta of 0.75. 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 business has a 50-day simple moving average of $25.76 and a 200 day simple moving average of $23.64. Midland States Bancorp, Inc. has a 52 week low of $20.54 and a 52 week high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $124.17 million during the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. During the same quarter last year, the company posted $0.78 EPS. On average, research analysts forecast that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

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

Insider Transactions at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the sale, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

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 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.