Midland States Bancorp (NASDAQ:MSBI) Share Price Passes Below Fifty Day Moving Average of $22.80

Midland States Bancorp, Inc. (NASDAQ:MSBI)’s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $22.80 and traded as low as $21.83. Midland States Bancorp shares last traded at $22.19, with a volume of 62,526 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Midland States Bancorp from $24.50 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods reduced their target price on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th.

Midland States Bancorp Price Performance

The stock’s 50-day moving average price is $22.80 and its 200-day moving average price is $23.16. The company has a market capitalization of $474.64 million, a price-to-earnings ratio of 7.55 and a beta of 0.76. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.10.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.52). Midland States Bancorp had a return on equity of 9.24% and a net margin of 12.10%. The company had revenue of $120.95 million for the quarter, compared to analyst estimates of $74.90 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. Equities research analysts anticipate that Midland States Bancorp, Inc. will post 1.99 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.24 annualized dividend and a yield of 5.59%. Midland States Bancorp’s dividend payout ratio is currently 42.18%.

Insider Activity at Midland States Bancorp

In other Midland States Bancorp news, Director Jeffrey M. Mcdonnell acquired 2,290 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $21.80 per share, for a total transaction of $49,922.00. Following the completion of the acquisition, the director now directly owns 24,245 shares of the company’s stock, valued at approximately $528,541. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Midland States Bancorp

Large investors have recently bought and sold shares of the business. Rhumbline Advisers increased its stake in Midland States Bancorp by 2.1% in the second quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider’s stock valued at $761,000 after purchasing an additional 683 shares in the last quarter. Quadrant Capital Group LLC increased its stake in Midland States Bancorp by 176.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 909 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Midland States Bancorp by 9.0% in the first quarter. Los Angeles Capital Management LLC now owns 18,575 shares of the financial services provider’s stock valued at $467,000 after purchasing an additional 1,532 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Midland States Bancorp in the first quarter valued at approximately $42,000. Finally, Hsbc Holdings PLC increased its stake in Midland States Bancorp by 9.9% in the second 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 in the last quarter. 60.93% of the stock is currently owned by institutional investors and hedge funds.

About Midland States Bancorp

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.