Insider Selling: Midland States Bancorp Inc (MSBI) CFO Sells 3,308 Shares of Stock

Midland States Bancorp Inc (NASDAQ:MSBI) CFO Stephen A. Erickson sold 3,308 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $24.55, for a total value of $81,211.40. Following the transaction, the chief financial officer now owns 14,261 shares in the company, valued at $350,107.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

NASDAQ MSBI traded up $0.10 on Friday, hitting $24.49. The company’s stock had a trading volume of 48,665 shares, compared to its average volume of 53,384. Midland States Bancorp Inc has a 52-week low of $19.56 and a 52-week high of $36.06. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $588.98 million, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 1.32 and a beta of 1.34.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, January 24th. The financial services provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.03. Midland States Bancorp had a return on equity of 9.76% and a net margin of 13.33%. The business had revenue of $69.71 million during the quarter, compared to analysts’ expectations of $64.50 million. Sell-side analysts predict that Midland States Bancorp Inc will post 2.66 earnings per share for the current year.



The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 22nd. Shareholders of record on Friday, February 15th were issued a $0.2425 dividend. The ex-dividend date was Thursday, February 14th. This represents a $0.97 annualized dividend and a yield of 3.96%. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.22. Midland States Bancorp’s dividend payout ratio (DPR) is 47.55%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in Midland States Bancorp by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 234,973 shares of the financial services provider’s stock worth $5,249,000 after buying an additional 33,494 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Midland States Bancorp by 25.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 559,834 shares of the financial services provider’s stock worth $12,507,000 after buying an additional 114,165 shares during the period. Millennium Management LLC purchased a new stake in Midland States Bancorp in the 4th quarter worth approximately $523,000. Metropolitan Life Insurance Co. NY lifted its holdings in Midland States Bancorp by 356.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,086 shares of the financial services provider’s stock worth $158,000 after buying an additional 5,534 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Midland States Bancorp by 6.5% in the 4th quarter. Bank of America Corp DE now owns 303,969 shares of the financial services provider’s stock worth $6,791,000 after buying an additional 18,511 shares during the period. Institutional investors and hedge funds own 47.11% of the company’s stock.

Several equities analysts have recently commented on MSBI shares. Zacks Investment Research lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, November 17th. Stephens restated a “buy” rating and set a $27.00 price target on shares of Midland States Bancorp in a research report on Wednesday, December 19th. Finally, BidaskClub upgraded Midland States Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 25th.

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About Midland States Bancorp

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Commercial FHA Origination and Servicing, Wealth Management, and Other segments.

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