Midland States Bancorp (NASDAQ:MSBI) Director Acquires $249,006.00 in Stock

Midland States Bancorp, Inc. (NASDAQ:MSBI) Director Travis Franklin acquired 9,400 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was acquired at an average cost of $26.49 per share, for a total transaction of $249,006.00. Following the completion of the purchase, the director directly owned 9,400 shares of the company’s stock, valued at approximately $249,006. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Midland States Bancorp Stock Down 0.1%

Midland States Bancorp stock opened at $28.31 on Friday. Midland States Bancorp, Inc. has a 1-year low of $14.24 and a 1-year high of $28.53. The firm has a market capitalization of $586.87 million, a price-to-earnings ratio of 23.99 and a beta of 0.66. The firm’s fifty day moving average price is $23.06 and its two-hundred day moving average price is $21.10. The company has a current ratio of 0.78, a quick ratio of 0.80 and a debt-to-equity ratio of 0.71.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.55%. The firm had revenue of $81.10 million for the quarter, compared to analyst estimates of $75.59 million. On average, equities research analysts predict that Midland States Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

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

Midland States Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, May 15th. Midland States Bancorp’s dividend payout ratio (DPR) is 108.47%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co lifted its position in shares of Midland States Bancorp by 33.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 503 shares in the last quarter. Amundi increased its holdings 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 buying an additional 620 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in Midland States Bancorp during the third quarter worth about $46,000. Quadrant Capital Group LLC increased its holdings in Midland States Bancorp by 302.7% during the fourth 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 last quarter. Finally, Daytona Street Capital LLC purchased a new stake in Midland States Bancorp during the fourth quarter worth about $107,000. 60.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MSBI has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings raised shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday. UBS Group set a $25.50 price target on shares of Midland States Bancorp in a research report on Monday, January 26th. Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Finally, DA Davidson raised their price target on shares of Midland States Bancorp from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. One 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, Midland States Bancorp has an average rating of “Hold” and a consensus price target of $23.90.

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.