Wellington Management Group LLP Grows Stock Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Wellington Management Group LLP increased its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 5.7% in the 4th quarter, Holdings Channel reports. The firm owned 132,424 shares of the financial services provider’s stock after purchasing an additional 7,103 shares during the period. Wellington Management Group LLP’s holdings in Midland States Bancorp were worth $3,650,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its holdings in shares of Midland States Bancorp by 176.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 909 shares during the last quarter. AJOVista LLC purchased a new stake in Midland States Bancorp in the 4th quarter valued at $67,000. International Assets Investment Management LLC increased its stake in shares of Midland States Bancorp by 2,688.1% in the 4th quarter. International Assets Investment Management LLC now owns 7,723 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 7,446 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Midland States Bancorp during the 4th quarter worth $318,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Midland States Bancorp during the 4th quarter valued at about $470,000. 60.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler reduced 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. Stephens decreased their price objective on Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods cut their target price on Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating for the company in a research note on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.63.

Midland States Bancorp Trading Up 2.1 %

Shares of MSBI stock opened at $22.65 on Monday. Midland States Bancorp, Inc. has a 1-year low of $19.61 and a 1-year high of $28.47. The firm has a market cap of $486.57 million, a PE ratio of 7.70 and a beta of 0.78. The company has a 50-day moving average of $22.76 and a two-hundred day moving average of $24.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.92 and a quick ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last posted 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 analysts’ expectations of $75.05 million. Midland States Bancorp had a return on equity of 11.50% and a net margin of 15.17%. During the same period in the previous year, the business posted $0.88 EPS. On average, analysts predict that Midland States Bancorp, Inc. will post 2.7 EPS for the current year.

Midland States Bancorp Announces Dividend

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

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.