Midland States Bancorp, Inc. (NASDAQ:MSBI) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. cut its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 13.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,000 shares of the financial services provider’s stock after selling 15,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in Midland States Bancorp were worth $2,387,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MSBI. Quadrant Capital Group LLC boosted its position in Midland States Bancorp by 176.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock valued at $39,000 after buying an additional 909 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Midland States Bancorp by 9.0% in the first quarter. Los Angeles Capital Management LLC now owns 18,575 shares of the financial services provider’s stock worth $467,000 after buying an additional 1,532 shares during the last quarter. Wedge Capital Management L L P NC grew its holdings in Midland States Bancorp by 9.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 19,274 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 1,740 shares during the period. AJOVista LLC purchased a new position in Midland States Bancorp during the fourth quarter valued at approximately $67,000. Finally, Russell Investments Group Ltd. raised its position in Midland States Bancorp by 7.1% during the fourth quarter. Russell Investments Group Ltd. now owns 86,218 shares of the financial services provider’s stock valued at $2,376,000 after acquiring an additional 5,724 shares in the last quarter. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Trading Up 2.3 %

Shares of Midland States Bancorp stock traded up $0.50 on Friday, reaching $22.68. The company had a trading volume of 21,725 shares, compared to its average volume of 59,988. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.91 and a current ratio of 0.92. The firm’s 50 day moving average price is $22.78 and its two-hundred day moving average price is $24.45. Midland States Bancorp, Inc. has a 52-week low of $19.61 and a 52-week high of $28.47. The firm has a market cap of $487.17 million, a PE ratio of 7.54 and a beta of 0.78.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.18). Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.50%. The company had revenue of $122.86 million during the quarter, compared to analyst estimates of $75.05 million. During the same quarter in the previous year, the business posted $0.88 earnings per share. Sell-side analysts predict that Midland States Bancorp, Inc. will post 2.7 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.24 annualized dividend and a dividend yield of 5.47%. Midland States Bancorp’s dividend payout ratio is currently 42.18%.

Wall Street Analysts Forecast Growth

MSBI has been the subject of several recent research reports. Keefe, Bruyette & Woods cut their target price on shares of Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating for the company in a report on Tuesday, April 30th. Stephens decreased their target price on shares of Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. Finally, Piper Sandler dropped their price target on Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.63.

Insider Activity

In related news, SVP Douglas J. Tucker sold 3,577 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $24.00, for a total transaction of $85,848.00. Following the completion of the sale, the senior vice president now directly owns 32,871 shares of the company’s stock, valued at $788,904. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jeffrey M. Mcdonnell purchased 2,290 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was acquired at an average price of $21.80 per share, for a total transaction of $49,922.00. Following the acquisition, the director now directly owns 24,245 shares of the company’s stock, valued at approximately $528,541. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Douglas J. Tucker sold 3,577 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $24.00, for a total transaction of $85,848.00. Following the completion of the transaction, the senior vice president now directly owns 32,871 shares of the company’s stock, valued at $788,904. The disclosure for this sale can be found here. Company insiders own 5.60% of the company’s stock.

Midland States Bancorp Company Profile

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, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.