Midland States Bancorp (NASDAQ:MSBI) Sets New 1-Year Low – Here’s Why

Midland States Bancorp, Inc. (NASDAQ:MSBI)’s stock price hit a new 52-week low during mid-day trading on Saturday . The stock traded as low as $19.75 and last traded at $20.00, with a volume of 586275 shares trading hands. The stock had previously closed at $25.00.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted 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 report on Wednesday, December 4th. StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday. Finally, Piper Sandler upped their target price on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th.

Midland States Bancorp Trading Down 20.0 %

The company has a market capitalization of $428 million, a PE ratio of 8.66 and a beta of 0.76. The company has a 50 day simple moving average of $25.24 and a 200 day simple moving average of $23.92. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. Analysts anticipate that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date of this dividend was Monday, November 18th. Midland States Bancorp’s dividend payout ratio is currently 53.68%.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp 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 transaction, the chief executive officer now 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 filing with the SEC, which is available through this link. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Midland States Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MSBI. Quantbot Technologies LP grew its holdings in Midland States Bancorp by 25.8% during the 3rd 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 in the last quarter. Point72 DIFC Ltd purchased a new position in Midland States Bancorp in the third quarter valued at $31,000. R Squared Ltd acquired a new stake in Midland States Bancorp in the fourth quarter valued at $39,000. Point72 Asset Management L.P. purchased a new stake in Midland States Bancorp during the 3rd quarter worth about $45,000. Finally, SG Americas Securities LLC boosted its position in shares of Midland States Bancorp by 14.8% during the 4th quarter. SG Americas Securities LLC now owns 16,317 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 2,103 shares in the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

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.