Bank of America Corp DE cut its position in shares of Midland States Bancorp Inc (NASDAQ:MSBI) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,970 shares of the financial services provider’s stock after selling 2,641 shares during the quarter. Bank of America Corp DE owned about 1.10% of Midland States Bancorp worth $8,907,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MSBI. BlackRock Inc. boosted its holdings in Midland States Bancorp by 30.1% in the second quarter. BlackRock Inc. now owns 1,334,886 shares of the financial services provider’s stock worth $45,733,000 after acquiring an additional 308,568 shares in the last quarter. FMR LLC increased its position in Midland States Bancorp by 25.2% during the second quarter. FMR LLC now owns 1,060,253 shares of the financial services provider’s stock valued at $36,324,000 after acquiring an additional 213,320 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Midland States Bancorp by 51.4% during the second quarter. Dimensional Fund Advisors LP now owns 343,521 shares of the financial services provider’s stock valued at $11,769,000 after acquiring an additional 116,594 shares during the last quarter. Wells Fargo & Company MN increased its position in Midland States Bancorp by 60.4% during the second quarter. Wells Fargo & Company MN now owns 219,882 shares of the financial services provider’s stock valued at $7,533,000 after acquiring an additional 82,798 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Midland States Bancorp by 73.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 69,861 shares of the financial services provider’s stock valued at $2,205,000 after acquiring an additional 29,536 shares during the last quarter. Institutional investors own 45.42% of the company’s stock.
MSBI traded down $0.18 during midday trading on Friday, reaching $26.57. The company had a trading volume of 36,649 shares, compared to its average volume of 57,729. The stock has a market cap of $633.31 million, a price-to-earnings ratio of 13.35, a PEG ratio of 1.56 and a beta of 1.36. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 1.39. Midland States Bancorp Inc has a 1 year low of $23.27 and a 1 year high of $36.06.
Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Friday, October 26th. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. The firm had revenue of $63.35 million during the quarter, compared to analyst estimates of $66.90 million. Midland States Bancorp had a return on equity of 9.23% and a net margin of 9.27%. On average, equities analysts anticipate that Midland States Bancorp Inc will post 2.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 26th. Investors of record on Monday, November 19th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Friday, November 16th. Midland States Bancorp’s payout ratio is presently 44.22%.
In other news, SVP Sharon A. Schaubert sold 12,338 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $34.04, for a total value of $419,985.52. Following the completion of the sale, the senior vice president now directly owns 25,007 shares of the company’s stock, valued at approximately $851,238.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John M. Schultz sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $34.58, for a total value of $69,160.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,160 shares of company stock valued at $837,794. 14.90% of the stock is owned by corporate insiders.
MSBI has been the subject of a number of research reports. Zacks Investment Research upgraded Midland States Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Wednesday. BidaskClub cut Midland States Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Finally, ValuEngine cut Midland States Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 12th.
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Midland States Bancorp Company Profile
Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides banking and financial products and services to individuals, businesses, municipalities, and other entities. The company's deposit products include checking, savings, money market, and sweep accounts, as well as certificates of deposits, noninterest-bearing and interest-bearing demand deposits, and time deposits.
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