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

Midland States Bancorp, Inc. (NASDAQ:MSBI) was the target of 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. Based on an average daily volume of 77,900 shares, the short-interest ratio is currently 2.9 days. Approximately 1.1% of the company’s shares are sold short.

Analyst Ratings Changes

A number of research firms have issued reports on MSBI. StockNews.com raised Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Monday. Piper Sandler boosted their price target on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods boosted their price target on 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.

Insider Activity

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total value of $312,703.56. Following the completion of the sale, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new position in shares of Midland States Bancorp in the third quarter worth about $31,000. Point72 Asset Management L.P. acquired a new stake in Midland States Bancorp during the third quarter valued at approximately $45,000. Quantbot Technologies LP raised its stake in Midland States Bancorp by 25.8% during the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after buying an additional 507 shares in the last quarter. US Bancorp DE raised its stake in Midland States Bancorp by 141.6% during the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after buying an additional 2,229 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Midland States Bancorp during the third quarter valued at approximately $148,000. Institutional investors and hedge funds own 60.93% of the company’s stock.

Midland States Bancorp Price Performance

Shares of NASDAQ MSBI opened at $24.24 on Friday. Midland States Bancorp has a 1-year low of $20.54 and a 1-year high of $28.10. The business has a 50-day moving average of $25.60 and a 200-day 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. The company has a market capitalization of $518.74 million, a price-to-earnings ratio of 10.49 and a beta of 0.76.

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

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 5.12%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s dividend payout ratio (DPR) is 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.