Jeffrey C. Smith Buys 650 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) Director Jeffrey C. Smith purchased 650 shares of Midland States Bancorp stock in a transaction dated Tuesday, January 28th. The stock was bought at an average price of $18.96 per share, with a total value of $12,324.00. Following the acquisition, the director now directly owns 33,609 shares of the company’s stock, valued at approximately $637,226.64. This trade represents a 1.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Midland States Bancorp Price Performance

Shares of NASDAQ MSBI opened at $19.28 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The business has a 50-day moving average of $24.98 and a 200-day moving average of $23.88. The stock has a market capitalization of $412.59 million, a price-to-earnings ratio of 8.35 and a beta of 0.76. Midland States Bancorp, Inc. has a fifty-two week low of $18.75 and a fifty-two week high of $28.10.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. As a group, sell-side analysts predict that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a dividend of $0.31 per share. The ex-dividend date was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 6.43%. Midland States Bancorp’s payout ratio is 53.68%.

Institutional Trading of Midland States Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Midland States Bancorp in the 3rd quarter valued at about $5,764,000. Bank of Montreal Can bought a new position in Midland States Bancorp during the second quarter worth about $1,350,000. JPMorgan Chase & Co. grew its holdings in Midland States Bancorp by 52.3% during the third quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock worth $2,469,000 after purchasing an additional 37,889 shares during the period. Barclays PLC increased its position in Midland States Bancorp by 55.2% during the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock worth $1,463,000 after buying an additional 23,242 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Midland States Bancorp by 31.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock valued at $1,996,000 after buying an additional 21,416 shares during the period. 60.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MSBI. StockNews.com lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. DA Davidson reduced their price objective on Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday. Piper Sandler dropped their target price on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Keefe, Bruyette & Woods cut their target price on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a research note on Monday. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.50.

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.