1,997 Shares in Midland States Bancorp, Inc. (NASDAQ:MSBI) Purchased by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new position in Midland States Bancorp, Inc. (NASDAQ:MSBI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,997 shares of the financial services provider’s stock, valued at approximately $45,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quantbot Technologies LP lifted its holdings in shares of Midland States Bancorp by 25.8% in the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 507 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Midland States Bancorp by 141.6% during the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 2,229 shares during the period. Quest Partners LLC bought a new position in shares of Midland States Bancorp during the third quarter worth about $148,000. Comerica Bank grew its position in shares of Midland States Bancorp by 950.4% during the first quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 6,757 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in Midland States Bancorp in the 3rd quarter valued at about $216,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the sale, the chief executive officer now directly owns 343,935 shares in the company, valued at approximately $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. StockNews.com cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Piper Sandler increased their price objective on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods lifted their target price on Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th.

Midland States Bancorp Trading Up 0.2 %

Shares of NASDAQ:MSBI opened at $26.45 on Friday. The company has a 50 day moving average of $25.38 and a 200-day moving average of $23.50. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The firm has a market cap of $566.03 million, a P/E ratio of 11.45 and a beta of 0.75. Midland States Bancorp, Inc. has a twelve month low of $20.54 and a twelve month high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. The firm had revenue of $124.17 million during the quarter, compared to the consensus estimate of $72.90 million. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, analysts anticipate that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a dividend of $0.31 per share. The ex-dividend date was Monday, November 18th. This represents a $1.24 annualized dividend and a yield of 4.69%. Midland States Bancorp’s dividend payout ratio is currently 53.68%.

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, 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.