Kyle Owen Mooney Sells 2,400 Shares of Midland States Bancorp (NASDAQ:MSBI) Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) COO Kyle Mooney sold 2,400 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $33.33, for a total value of $79,992.00. Following the completion of the sale, the chief operating officer directly owned 13,610 shares in the company, valued at $453,621.30. This trade represents a 14.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kyle Owen Mooney also recently made the following trade(s):

• On Tuesday, August 18th, Kyle Mooney sold 489 shares of Midland States Bancorp stock. The stock was sold at an average price of $33.16, for a total value of $16,215.24.
• On Tuesday, August 11th, Kyle Mooney sold 1,198 shares of Midland States Bancorp stock. The stock was sold at an average price of $33.51, for a total transaction of $40,144.98.

Midland States Bancorp Price Performance

Shares of NASDAQ MSBI opened at $33.31 on Friday. The stock has a market cap of $691.18 million, a price-to-earnings ratio of 21.35 and a beta of 0.65. Midland States Bancorp, Inc. has a 52 week low of $14.24 and a 52 week high of $35.10. The company’s 50-day moving average price is $32.50 and its 200 day moving average price is $27.96. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73.

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

Midland States Bancorp Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen cut Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. DA Davidson increased their price objective on Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Midland States Bancorp in a research report on Friday, July 31st. Keefe, Bruyette & Woods boosted their target price on shares of Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Finally, Piper Sandler upped their target price on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $31.12.

Institutional Investors Weigh In On Midland States Bancorp

Hedge funds have recently modified their holdings of the stock. Amundi raised its stake in Midland States Bancorp by 39.4% during the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 620 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Midland States Bancorp by 33.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after buying an additional 503 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in shares of Midland States Bancorp during the 3rd quarter valued at $46,000. Legal & General Group Plc acquired a new stake in shares of Midland States Bancorp during the 2nd quarter worth $58,000. Finally, Quadrant Capital Group LLC raised its position in shares of Midland States Bancorp by 302.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock worth $97,000 after buying an additional 3,457 shares during the period. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Company Profile

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.