Thrivent Financial for Lutherans raised its position in Midland States Bancorp, Inc. (NASDAQ:MSBI – Free Report) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,667 shares of the financial services provider’s stock after buying an additional 3,027 shares during the period. Thrivent Financial for Lutherans’ holdings in Midland States Bancorp were worth $1,604,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Comerica Bank grew its stake in Midland States Bancorp by 950.4% during the 1st quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock valued at $188,000 after purchasing an additional 6,757 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Midland States Bancorp during the second quarter worth approximately $218,000. Bank of New York Mellon Corp increased its stake in shares of Midland States Bancorp by 6.7% in the second quarter. Bank of New York Mellon Corp now owns 165,615 shares of the financial services provider’s stock worth $3,751,000 after buying an additional 10,354 shares during the last quarter. Rhumbline Advisers raised its holdings 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 acquiring an additional 683 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Midland States Bancorp by 69.6% during the 2nd quarter. Acadian Asset Management LLC now owns 74,722 shares of the financial services provider’s stock worth $1,691,000 after acquiring an additional 30,677 shares in the last quarter. 60.93% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the sale, the chief executive officer now directly owns 343,935 shares in the company, 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 SEC, which is available through this hyperlink. 5.60% of the stock is owned by company insiders.
Midland States Bancorp Stock Down 0.7 %
Shares of NASDAQ:MSBI opened at $26.85 on Friday. Midland States Bancorp, Inc. has a 1-year low of $20.54 and a 1-year high of $28.47. The company’s fifty day moving average is $24.42 and its two-hundred day moving average is $23.25. 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 stock has a market capitalization of $574.59 million, a price-to-earnings ratio of 11.62 and a beta of 0.74.
Midland States Bancorp (NASDAQ:MSBI – Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share 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 firm had revenue of $124.17 million for the quarter, compared to analyst estimates of $72.90 million. During the same quarter in the prior year, the business earned $0.78 earnings per share. Equities analysts anticipate that Midland States Bancorp, Inc. will post 2.16 EPS for the current year.
Midland States Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 4.62%. Midland States Bancorp’s dividend payout ratio is currently 53.68%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Piper Sandler boosted their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, November 22nd.
Read Our Latest Report on MSBI
Midland States Bancorp Profile
(Free Report)
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.
Further Reading
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