Martingale Asset Management L P Buys New Shares in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Martingale Asset Management L P bought a new stake in Midland States Bancorp, Inc. (NASDAQ:MSBIGet Rating) during the second quarter, HoldingsChannel reports. The firm bought 12,415 shares of the financial services provider’s stock, valued at approximately $299,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MSBI. Captrust Financial Advisors increased its position in Midland States Bancorp by 98.5% during the first quarter. Captrust Financial Advisors now owns 1,574 shares of the financial services provider’s stock worth $45,000 after buying an additional 781 shares during the last quarter. Great West Life Assurance Co. Can increased its position in Midland States Bancorp by 36.5% during the first quarter. Great West Life Assurance Co. Can now owns 2,063 shares of the financial services provider’s stock worth $62,000 after buying an additional 552 shares during the last quarter. Lazard Asset Management LLC increased its position in Midland States Bancorp by 95.5% during the first quarter. Lazard Asset Management LLC now owns 2,078 shares of the financial services provider’s stock worth $59,000 after buying an additional 1,015 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in Midland States Bancorp during the first quarter worth approximately $61,000. Finally, Amalgamated Bank acquired a new position in Midland States Bancorp during the first quarter worth approximately $74,000. Institutional investors and hedge funds own 61.87% of the company’s stock.

Midland States Bancorp Trading Down 1.5 %

Shares of MSBI stock opened at $26.44 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.87. The stock has a market cap of $585.62 million, a P/E ratio of 6.69 and a beta of 0.93. The stock has a 50 day simple moving average of $26.09 and a 200 day simple moving average of $25.83. Midland States Bancorp, Inc. has a 1 year low of $23.48 and a 1 year high of $30.60.

Midland States Bancorp (NASDAQ:MSBIGet Rating) last issued its quarterly earnings results on Thursday, October 20th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.03. The business had revenue of $79.85 million during the quarter, compared to analysts’ expectations of $78.85 million. Midland States Bancorp had a return on equity of 14.30% and a net margin of 26.21%. On average, research analysts predict that Midland States Bancorp, Inc. will post 3.9 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 21st. Investors of record on Monday, November 14th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 4.39%. The ex-dividend date was Thursday, November 10th. Midland States Bancorp’s dividend payout ratio (DPR) is currently 29.37%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MSBI. DA Davidson upped their target price on Midland States Bancorp to $29.00 in a research report on Thursday, October 27th. Raymond James began coverage on Midland States Bancorp in a research report on Thursday, September 1st. They issued a “market perform” rating on the stock. Piper Sandler decreased their target price on Midland States Bancorp to $27.00 in a research report on Thursday, September 29th. Stephens decreased their target price on Midland States Bancorp from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Monday, October 24th. Finally, StockNews.com raised Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, November 17th.

Insider Activity at Midland States Bancorp

In related news, President Jeffrey S. Mefford sold 1,600 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $23.84, for a total value of $38,144.00. Following the completion of the sale, the president now directly owns 26,375 shares in the company, valued at $628,780. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders sold 4,800 shares of company stock worth $123,936. Company insiders own 5.80% of the company’s stock.

Midland States Bancorp Profile

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Midland States Bancorp, Inc is a bank holding company engaged in the provision of commercial and consumer banking products and services. It operates through the following segments: Banking, Wealth Management, and Other. The Banking segment offers financial products and services such as loans, mortgage loan sales and servicing, letters of credit, deposit products, merchant services, and corporate treasury management services.

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Institutional Ownership by Quarter for Midland States Bancorp (NASDAQ:MSBI)

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