PDT Partners LLC Takes $300,000 Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

PDT Partners LLC purchased a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 13,390 shares of the financial services provider’s stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quantbot Technologies LP raised its holdings in shares of Midland States Bancorp by 25.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 507 shares in the last quarter. US Bancorp DE raised its holdings in shares of Midland States Bancorp by 141.6% during the 3rd quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 2,229 shares in the last quarter. Quest Partners LLC bought a new position in shares of Midland States Bancorp during the 3rd quarter valued at $148,000. Comerica Bank raised its holdings in Midland States Bancorp by 950.4% in the 1st quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 6,757 shares during the period. Finally, SG Americas Securities LLC bought a new position in Midland States Bancorp in the 2nd quarter worth $218,000. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Stock Performance

NASDAQ:MSBI opened at $26.58 on Wednesday. The firm’s 50-day moving average is $24.60 and its 200-day moving average is $23.29. Midland States Bancorp, Inc. has a 52-week low of $20.54 and a 52-week high of $28.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $568.81 million, a price-to-earnings ratio of 11.51 and a beta of 0.75.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (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 company had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. During the same quarter in the previous year, the firm posted $0.78 EPS. Equities research analysts anticipate that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 4.67%. Midland States Bancorp’s payout ratio is 53.68%.

Insider Transactions at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the transaction, the chief executive officer now owns 343,935 shares in the company, valued at approximately $8,433,286.20. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

MSBI has been the topic of several recent analyst reports. StockNews.com downgraded shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Piper Sandler lifted their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th.

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.