Wedge Capital Management L L P NC Sells 2,433 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Wedge Capital Management L L P NC lessened its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,028 shares of the financial services provider’s stock after selling 2,433 shares during the period. Wedge Capital Management L L P NC’s holdings in Midland States Bancorp were worth $635,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MSBI. Point72 DIFC Ltd acquired a new stake in shares of Midland States Bancorp during the 3rd quarter worth $31,000. Point72 Asset Management L.P. acquired a new stake in Midland States Bancorp during the third quarter worth about $45,000. Quantbot Technologies LP increased its holdings in Midland States Bancorp by 25.8% in the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after buying an additional 507 shares during the period. US Bancorp DE lifted 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 worth $85,000 after acquiring an additional 2,229 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Midland States Bancorp during the 3rd quarter worth approximately $148,000. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Stock Performance

Shares of Midland States Bancorp stock opened at $24.90 on Wednesday. The company’s 50 day moving average price is $25.51 and its two-hundred day moving average price is $23.90. The firm has a market capitalization of $532.88 million, a P/E ratio of 10.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. Midland States Bancorp, Inc. has a fifty-two week low of $20.54 and a fifty-two week high of $28.10.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The business had revenue of $124.17 million for the quarter, compared to analyst estimates of $72.90 million. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. During the same quarter in the previous year, the company posted $0.78 EPS. On average, equities analysts forecast that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.31 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 4.98%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Analyst Upgrades and Downgrades

MSBI has been the subject of several research analyst reports. Piper Sandler boosted their price objective on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price target on Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th.

Insider Buying and Selling

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the transaction, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is owned by corporate insiders.

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.