Short Interest in Midland States Bancorp, Inc. (NASDAQ:MSBI) Declines By 18.9%

Midland States Bancorp, Inc. (NASDAQ:MSBI) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 159,100 shares, a drop of 18.9% from the July 15th total of 196,100 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily trading volume, of 103,300 shares, the days-to-cover ratio is presently 1.5 days.

Insider Activity at Midland States Bancorp

In other news, CAO Donald J. Spring sold 1,197 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $22.00, for a total value of $26,334.00. Following the sale, the chief accounting officer now owns 12,015 shares of the company’s stock, valued at $264,330. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CAO Donald J. Spring sold 1,197 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $22.00, for a total transaction of $26,334.00. Following the sale, the chief accounting officer now owns 12,015 shares in the company, valued at $264,330. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey M. Mcdonnell purchased 2,290 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was bought at an average price of $21.80 per share, with a total value of $49,922.00. Following the completion of the purchase, the director now owns 24,245 shares of the company’s stock, valued at $528,541. The disclosure for this purchase can be found here. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC increased its position in Midland States Bancorp by 176.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 909 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Midland States Bancorp in the first quarter valued at approximately $42,000. AJOVista LLC acquired a new stake in shares of Midland States Bancorp in the fourth quarter valued at approximately $67,000. Comerica Bank boosted its stake in shares of Midland States Bancorp by 950.4% in the first quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock valued at $188,000 after buying an additional 6,757 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Midland States Bancorp by 2,688.1% in the 4th quarter. International Assets Investment Management LLC now owns 7,723 shares of the financial services provider’s stock valued at $213,000 after acquiring an additional 7,446 shares in the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

Midland States Bancorp Stock Performance

Shares of NASDAQ MSBI traded up $0.53 during mid-day trading on Thursday, reaching $21.68. 49,869 shares of the company were exchanged, compared to its average volume of 79,118. The stock has a market capitalization of $465.73 million, a P/E ratio of 7.19 and a beta of 0.76. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.59. The company’s 50-day simple moving average is $22.68 and its 200-day simple moving average is $23.53. Midland States Bancorp has a twelve month low of $19.85 and a twelve month high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.52). Midland States Bancorp had a return on equity of 9.25% and a net margin of 12.10%. The company had revenue of $120.95 million for the quarter, compared to analyst estimates of $74.90 million. During the same quarter last year, the business earned $0.87 earnings per share. As a group, research analysts predict that Midland States Bancorp will post 2.34 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 16th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 5.72%. The ex-dividend date of this dividend is Friday, August 16th. Midland States Bancorp’s dividend payout ratio is 42.18%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Stephens lowered their price objective 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. Keefe, Bruyette & Woods dropped their price objective on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday, July 29th. Finally, Piper Sandler raised their price objective on Midland States Bancorp from $24.50 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th.

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.