Short Interest in Midland States Bancorp, Inc. (NASDAQ:MSBI) Drops By 12.8%

Midland States Bancorp, Inc. (NASDAQ:MSBI) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 230,100 shares, a decrease of 12.8% from the May 31st total of 264,000 shares. Currently, 1.1% of the company’s stock are short sold. Based on an average daily volume of 60,800 shares, the days-to-cover ratio is presently 3.8 days.

Midland States Bancorp Stock Up 2.1 %

Shares of Midland States Bancorp stock opened at $22.65 on Friday. The company has a market cap of $486.52 million, a price-to-earnings ratio of 7.70 and a beta of 0.78. The company’s 50 day moving average is $22.76 and its 200 day moving average is $24.43. Midland States Bancorp has a twelve month low of $19.61 and a twelve month high of $28.47. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.59.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). The company had revenue of $122.86 million for the quarter, compared to the consensus estimate of $75.05 million. Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.50%. During the same quarter last year, the company earned $0.88 EPS. Research analysts anticipate that Midland States Bancorp will post 2.7 EPS for the current year.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 17th were given a $0.31 dividend. The ex-dividend date was Thursday, May 16th. This represents a $1.24 annualized dividend and a yield of 5.47%. Midland States Bancorp’s payout ratio is presently 42.18%.

Insiders Place Their Bets

In other Midland States Bancorp news, CAO Donald J. Spring sold 1,197 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $22.00, for a total value of $26,334.00. Following the sale, the chief accounting officer now owns 12,015 shares in the company, valued at $264,330. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Donald J. Spring sold 1,197 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $22.00, for a total value of $26,334.00. Following the transaction, the chief accounting officer now owns 12,015 shares in the company, valued at $264,330. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Douglas J. Tucker sold 3,577 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $24.00, for a total transaction of $85,848.00. Following the completion of the transaction, the senior vice president now owns 32,871 shares in the company, valued at approximately $788,904. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in Midland States Bancorp by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,371,940 shares of the financial services provider’s stock worth $37,811,000 after acquiring an additional 37,813 shares during the period. Vanguard Group Inc. raised its position in Midland States Bancorp by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,110,782 shares of the financial services provider’s stock worth $22,815,000 after acquiring an additional 7,132 shares during the period. AQR Capital Management LLC raised its position in Midland States Bancorp by 27.5% in the third quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock worth $5,147,000 after acquiring an additional 54,090 shares during the period. American Century Companies Inc. raised its position in Midland States Bancorp by 11.3% in the third quarter. American Century Companies Inc. now owns 239,352 shares of the financial services provider’s stock worth $4,916,000 after acquiring an additional 24,320 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Midland States Bancorp by 5.7% in the fourth quarter. Wellington Management Group LLP now owns 132,424 shares of the financial services provider’s stock worth $3,650,000 after purchasing an additional 7,103 shares in the last quarter. 60.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MSBI has been the topic of several analyst reports. Piper Sandler dropped their target price on shares of Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods dropped their target price on shares of Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 30th. Finally, Stephens lowered their price objective on shares of Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.63.

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.