Midland States Bancorp, Inc. (NASDAQ:MSBI) Short Interest Update
by Scott Moore · The Cerbat GemMidland States Bancorp, Inc. (NASDAQ:MSBI – Get Free Report) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 603,020 shares, an increase of 35.1% from the February 26th total of 446,225 shares. Approximately 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 114,615 shares, the short-interest ratio is presently 5.3 days.
Insiders Place Their Bets
In other news, COO Kyle Owen Mooney sold 2,808 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $22.67, for a total transaction of $63,657.36. Following the completion of the sale, the chief operating officer owned 14,207 shares of the company’s stock, valued at approximately $322,072.69. This trade represents a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.27% of the company’s stock.
Hedge Funds Weigh In On Midland States Bancorp
Several large investors have recently bought and sold shares of the business. Creative Planning grew its holdings in Midland States Bancorp by 155.7% during the 2nd quarter. Creative Planning now owns 53,091 shares of the financial services provider’s stock worth $920,000 after acquiring an additional 32,329 shares during the period. Geode Capital Management LLC lifted its stake in shares of Midland States Bancorp by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 605,625 shares of the financial services provider’s stock valued at $10,491,000 after purchasing an additional 29,829 shares during the period. American Century Companies Inc. boosted its position in shares of Midland States Bancorp by 6.0% in the 2nd quarter. American Century Companies Inc. now owns 543,869 shares of the financial services provider’s stock worth $9,420,000 after purchasing an additional 30,733 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Midland States Bancorp by 10.4% in the 2nd quarter. Prudential Financial Inc. now owns 230,720 shares of the financial services provider’s stock worth $3,996,000 after purchasing an additional 21,711 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Midland States Bancorp by 34.9% during the fourth quarter. Hsbc Holdings PLC now owns 47,004 shares of the financial services provider’s stock worth $990,000 after purchasing an additional 12,172 shares during the period. 60.93% of the stock is currently owned by institutional investors and hedge funds.
Midland States Bancorp Trading Up 0.7%
Shares of NASDAQ MSBI traded up $0.16 during midday trading on Monday, hitting $21.90. The stock had a trading volume of 97,163 shares, compared to its average volume of 153,751. The firm has a market cap of $470.19 million, a P/E ratio of 21.68 and a beta of 0.62. Midland States Bancorp has a fifty-two week low of $14.24 and a fifty-two week high of $24.57. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The company’s 50-day simple moving average is $22.47 and its 200 day simple moving average is $19.73.
Midland States Bancorp (NASDAQ:MSBI – Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.17). The firm had revenue of $85.79 million for the quarter, compared to analyst estimates of $74.49 million. Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.47%. Research analysts anticipate that Midland States Bancorp will post 2.53 EPS for the current year.
Midland States Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were given a dividend of $0.32 per share. The ex-dividend date was Friday, February 13th. This represents a $1.28 annualized dividend and a dividend yield of 5.8%. Midland States Bancorp’s payout ratio is currently 126.73%.
Analyst Upgrades and Downgrades
MSBI has been the topic of a number of research analyst reports. Zacks Research lowered Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Piper Sandler boosted their price objective on Midland States Bancorp from $23.00 to $25.50 and gave the stock a “neutral” rating in a research note on Monday, January 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Midland States Bancorp in a report on Friday. DA Davidson lifted their price target on Midland States Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, January 26th. Finally, UBS Group set a $25.50 price target on shares of Midland States Bancorp in a research report on Monday, January 26th. Five analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Midland States Bancorp has an average rating of “Reduce” and an average price target of $23.00.
View Our Latest Research Report on MSBI
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.