Midland States Bancorp (MSBI) Sets New 1-Year Low at $23.05

Midland States Bancorp Inc (NASDAQ:MSBI) reached a new 52-week low during trading on Thursday . The stock traded as low as $23.05 and last traded at $23.20, with a volume of 1521 shares changing hands. The stock had previously closed at $23.69.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, November 17th. ValuEngine downgraded shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Finally, BidaskClub downgraded shares of Midland States Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, October 4th.

The firm has a market capitalization of $556.11 million, a PE ratio of 11.67, a PEG ratio of 1.37 and a beta of 1.33. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.34.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Friday, October 26th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Midland States Bancorp had a net margin of 9.27% and a return on equity of 9.01%. The firm had revenue of $63.35 million for the quarter, compared to the consensus estimate of $66.90 million. As a group, analysts anticipate that Midland States Bancorp Inc will post 2.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 26th. Stockholders of record on Monday, November 19th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Friday, November 16th. Midland States Bancorp’s payout ratio is 44.22%.

In related news, SVP Sharon A. Schaubert sold 12,338 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $34.04, for a total value of $419,985.52. Following the sale, the senior vice president now directly owns 25,007 shares of the company’s stock, valued at $851,238.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jeffrey A. Brunoehler sold 2,822 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $32.03, for a total transaction of $90,388.66. Following the completion of the sale, the senior vice president now directly owns 31,584 shares in the company, valued at $1,011,635.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,160 shares of company stock worth $1,162,974. Insiders own 14.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Swiss National Bank raised its stake in Midland States Bancorp by 15.5% in the second quarter. Swiss National Bank now owns 28,300 shares of the financial services provider’s stock valued at $970,000 after purchasing an additional 3,800 shares in the last quarter. Associated Banc Corp purchased a new stake in Midland States Bancorp in the third quarter valued at approximately $331,000. BlackRock Inc. raised its stake in Midland States Bancorp by 30.1% in the second quarter. BlackRock Inc. now owns 1,334,886 shares of the financial services provider’s stock valued at $45,733,000 after purchasing an additional 308,568 shares in the last quarter. Zebra Capital Management LLC purchased a new stake in Midland States Bancorp in the second quarter valued at approximately $235,000. Finally, Bank of New York Mellon Corp raised its stake in Midland States Bancorp by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 470,008 shares of the financial services provider’s stock valued at $16,101,000 after purchasing an additional 5,392 shares in the last quarter. 44.97% of the stock is currently owned by institutional investors and hedge funds.

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Midland States Bancorp Company Profile (NASDAQ:MSBI)

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides banking and financial products and services to individuals, businesses, municipalities, and other entities. The company's deposit products include checking, savings, money market, and sweep accounts, as well as certificates of deposits, noninterest-bearing and interest-bearing demand deposits, and time deposits.

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