Hsbc Holdings PLC Purchases New Holdings in Midland States Bancorp, Inc. $MSBI

Hsbc Holdings PLC purchased a new position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) during the second quarter, Holdings Channel reports. The institutional investor purchased 58,716 shares of the financial services provider’s stock, valued at approximately $1,820,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Midland States Bancorp in the 2nd quarter valued at $90,950,000. State Street Corp boosted its holdings in shares of Midland States Bancorp by 10.1% in the 4th quarter. State Street Corp now owns 682,862 shares of the financial services provider’s stock worth $14,456,000 after buying an additional 62,874 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Midland States Bancorp by 38.1% in the 2nd quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock worth $9,370,000 after buying an additional 149,175 shares during the last quarter. Patriot Financial Partners GP II L.P. bought a new position in Midland States Bancorp during the first quarter valued at about $9,783,000. Finally, Rhino Investment Partners Inc increased its holdings in Midland States Bancorp by 22.5% during the first quarter. Rhino Investment Partners Inc now owns 320,288 shares of the financial services provider’s stock worth $7,146,000 after buying an additional 58,754 shares during the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Insider Buying and Selling

In other Midland States Bancorp news, COO Kyle Owen Mooney sold 1,198 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $33.51, for a total transaction of $40,144.98. Following the sale, the chief operating officer owned 14,099 shares in the company, valued at $472,457.49. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey G. Ludwig sold 8,383 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total value of $285,022.00. Following the completion of the transaction, the chief executive officer directly owned 400,971 shares of the company’s stock, valued at $13,633,014. The trade was a 2.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,070 shares of company stock valued at $341,382 over the last quarter. 8.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on MSBI. Wall Street Zen lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. DA Davidson increased their target price on shares of Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods raised their price target on shares of Midland States Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Piper Sandler lifted their price target on shares of Midland States Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Midland States Bancorp in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.10.

Midland States Bancorp Stock Performance

Shares of Midland States Bancorp stock opened at $33.00 on Monday. The stock has a market capitalization of $684.75 million, a P/E ratio of 21.15 and a beta of 0.66. Midland States Bancorp, Inc. has a 52-week low of $14.24 and a 52-week high of $35.10. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50-day simple moving average is $32.03 and its 200 day simple moving average is $27.33.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $83.74 million during the quarter, compared to analyst estimates of $80.70 million. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. As a group, research analysts anticipate that Midland States Bancorp, Inc. will post 3.4 EPS for the current year.

Midland States Bancorp declared that its board has authorized a share buyback plan on Wednesday, May 6th that authorizes the company to buyback $45.00 million in shares. This buyback authorization authorizes the financial services provider to buy up to 8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Midland States Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were issued a $0.33 dividend. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.32 annualized dividend and a yield of 4.0%. Midland States Bancorp’s payout ratio is 84.62%.

About Midland States Bancorp

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.