Hennessy Advisors Inc. Has $1.83 Million Stock Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Hennessy Advisors Inc. lowered its stake in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,000 shares of the financial services provider's stock after selling 25,000 shares during the period. Hennessy Advisors Inc. owned 0.35% of Midland States Bancorp worth $1,830,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MSBI. JPMorgan Chase & Co. lifted its stake in shares of Midland States Bancorp by 52.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider's stock valued at $2,469,000 after purchasing an additional 37,889 shares during the period. Barclays PLC boosted its holdings in Midland States Bancorp by 55.2% during the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider's stock worth $1,463,000 after buying an additional 23,242 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Midland States Bancorp by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider's stock worth $11,460,000 after buying an additional 2,294 shares during the period. Jane Street Group LLC increased its stake in shares of Midland States Bancorp by 15.5% in the 3rd quarter. Jane Street Group LLC now owns 24,534 shares of the financial services provider's stock valued at $549,000 after acquiring an additional 3,300 shares during the last quarter. Finally, State Street Corp raised its position in shares of Midland States Bancorp by 2.5% in the 3rd quarter. State Street Corp now owns 587,947 shares of the financial services provider's stock valued at $13,158,000 after acquiring an additional 14,157 shares during the period. Institutional investors and hedge funds own 60.93% of the company's stock.

Insiders Place Their Bets

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm's stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total value of $312,703.56. Following the sale, the chief executive officer now directly owns 343,935 shares of the company's stock, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.60% of the company's stock.

Midland States Bancorp Stock Performance

MSBI stock traded up $0.37 during midday trading on Friday, reaching $24.61. 70,022 shares of the company were exchanged, compared to its average volume of 59,912. Midland States Bancorp, Inc. has a one year low of $20.54 and a one year high of $28.10. The firm has a market capitalization of $526.65 million, a price-to-earnings ratio of 10.65 and a beta of 0.76. The business has a 50-day moving average price of $25.57 and a two-hundred day moving average price of $23.89. 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 - Get Free Report) last announced its 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. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. The company had revenue of $124.17 million during the quarter, compared to analysts' expectations of $72.90 million. During the same quarter in the previous year, the business posted $0.78 earnings per share. Equities research analysts forecast that Midland States Bancorp, Inc. will post 2.16 EPS for the current year.

Midland States Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors 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 annualized dividend and a yield of 5.04%. Midland States Bancorp's dividend payout ratio is 53.68%.

Analysts Set New Price Targets

MSBI has been the subject of a number of research reports. Piper Sandler increased their target price on Midland States Bancorp from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods increased their price objective on shares of Midland States Bancorp from $24.00 to $28.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Finally, StockNews.com raised shares of Midland States Bancorp from a "hold" rating to a "buy" rating in a research report on Monday, January 13th.

Midland States Bancorp 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.