Midland States Bancorp, Inc. (NASDAQ:MSBI) Sees Large Drop in Short Interest

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 224,000 shares, a decline of 19.0% from the December 15th total of 276,700 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average trading volume of 77,900 shares, the short-interest ratio is presently 2.9 days.

Insider Buying and Selling

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company's stock in a transaction 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 sale, the chief executive officer now owns 343,935 shares of the company's stock, valued at $8,433,286.20. This represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Midland States Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in Midland States Bancorp by 2.1% during the second quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider's stock worth $761,000 after buying an additional 683 shares in the last quarter. American Century Companies Inc. lifted its stake in Midland States Bancorp by 16.0% during the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider's stock worth $9,107,000 after purchasing an additional 55,555 shares during the period. Hsbc Holdings PLC lifted its holdings in Midland States Bancorp by 9.9% during the 2nd quarter. Hsbc Holdings PLC now owns 28,562 shares of the financial services provider's stock valued at $652,000 after purchasing an additional 2,562 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Midland States Bancorp by 6.1% in the second quarter. Thrivent Financial for Lutherans now owns 68,640 shares of the financial services provider's stock worth $1,554,000 after purchasing an additional 3,976 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in Midland States Bancorp during the 2nd quarter worth $1,350,000. 60.93% of the stock is owned by institutional investors.

Midland States Bancorp Stock Performance

NASDAQ MSBI traded down $0.34 on Thursday, hitting $23.98. 31,666 shares of the company's stock were exchanged, compared to its average volume of 70,610. The firm has a market cap of $513.26 million, a price-to-earnings ratio of 10.38 and a beta of 0.76. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The firm's 50-day moving average price is $25.65 and its two-hundred day moving average price is $23.86. Midland States Bancorp has a fifty-two week low of $20.54 and a fifty-two week high of $28.10.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $124.17 million during the quarter, compared to analyst estimates of $72.90 million. During the same quarter in the prior year, the business posted $0.78 earnings per share. On average, research analysts expect that Midland States Bancorp will post 2.16 EPS for the current year.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 5.17%. The ex-dividend date was Monday, November 18th. Midland States Bancorp's dividend payout ratio (DPR) is presently 53.68%.

Analyst Ratings Changes

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

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.