Midland States Bancorp, Inc. (NASDAQ:MSBI) Short Interest Down 19.0% in December

Midland States Bancorp, Inc. (NASDAQ:MSBI) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 224,000 shares, a decrease of 19.0% from the December 15th total of 276,700 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 77,900 shares, the days-to-cover ratio is currently 2.9 days.

Insider Transactions at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the sale, the chief executive officer now directly owns 343,935 shares in the company, valued at approximately $8,433,286.20. This represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. lifted its position in shares of Midland States Bancorp by 31.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock valued at $1,996,000 after acquiring an additional 21,416 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Midland States Bancorp by 51.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,370 shares of the financial services provider’s stock valued at $657,000 after purchasing an additional 9,953 shares in the last quarter. Barclays PLC lifted its holdings in shares of Midland States Bancorp by 55.2% in the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock valued at $1,463,000 after purchasing an additional 23,242 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Midland States Bancorp by 16.0% in the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after purchasing an additional 55,555 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Midland States Bancorp by 0.5% in the third quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock valued at $11,460,000 after purchasing an additional 2,294 shares in the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MSBI shares. Piper Sandler increased their price target on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Keefe, Bruyette & Woods increased their price objective on Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Midland States Bancorp Stock Performance

Shares of MSBI stock opened at $24.24 on Friday. Midland States Bancorp has a 12-month low of $20.54 and a 12-month high of $28.10. The firm has a market capitalization of $518.74 million, a price-to-earnings ratio of 10.49 and a beta of 0.76. The business has a 50 day simple moving average of $25.60 and a 200 day simple moving average of $23.86. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $124.17 million during the quarter, compared to analyst estimates of $72.90 million. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. During the same period last year, the company posted $0.78 EPS. On average, equities research analysts anticipate that Midland States Bancorp will post 2.16 EPS for the current year.

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were given a dividend of $0.31 per share. The ex-dividend date was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.12%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

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.