Midland States Bancorp (NASDAQ:MSBI) Reports Quarterly Results
Midland States Bancorp (NASDAQ:MSBI) released its quarterly results on Thursday. The financial services provider reported earnings per share of $1.02 for the quarter, beating the consensus estimate of $0.87 by $0.15, MarketWatch Earnings reports. Midland States Bancorp had a return on equity of 10.98% and a net margin of 22.05%. During the same period of the previous year, the company posted EPS of $0.54.
Shares of NASDAQ MSBI traded at $0.80 during trading hours on Friday, hitting $27.37. 91,606 shares of the stock traded in hands, compared to its average volume of 92,311. The company has a market capitalization of $602.58 million, a P/E ratio of 9.41 and a beta of 1.04 . The company has a quick ratio of 0.98, a current ratio of 0.98 and a leverage ratio of 0.96. Midland States Bancorp has a 52-week low of $18.02 and a 52-week high of $30.32. The company’s 50-day simple moving average is $25.45 and its two-hundred-day simple moving average is $25.23.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 29. Investors of record on Monday, November 22 received a dividend of $0.28 per share. The ex-dividend date was Friday, November 19. This represents a dividend of $1.12 on an annualized basis and a dividend yield of 4.09%. Midland States Bancorp’s dividend payout ratio is 38.49%.
In other Midland States Bancorp news, SVP Jeffrey A. Brunoehler sold 1,362 shares of Midland States Bancorp in a trade that took place on Tuesday, November 9. The stock was sold at an average price of $25.53, for a total value of $34,771.86. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, Chairman Jeffrey S. Mefford sold 12,179 shares of Midland States Bancorp in a trade that took place on Tuesday, December 28. The stock was sold at an average price of $25.14, for a total value of $306,180.06. The disclosure of this sale can be found here. Insiders sold a total of 14,055 shares of the company worth $353,997 over the past ninety days. Insiders hold 5.80% of the shares of the company.
Several hedge funds have recently changed their holdings to MSBI. Morgan Stanley increased its position in shares of Midland States Bancorp by 839.1% in the second quarter. Morgan Stanley now owns 44,061 shares of the financial services provider worth $1,159,000 after buying 39,369 additional shares in the last quarter. Royal Bank of Canada increased its position in shares of Midland States Bancorp by 14.9% in the third quarter. Royal Bank of Canada now owns 8,716 shares of the financial services provider worth $216,000 after buying 1,129 more shares in the last quarter. Citadel Advisors LLC increased its position in shares of Midland States Bancorp by 9.2% in the third quarter. Citadel Advisors LLC now owns 100,479 shares of the financial services provider worth $2,485,000 after buying 8,506 additional shares in the last quarter. Millennium Management LLC increased its position in shares of Midland States Bancorp by 58.8% in the third quarter. Millennium Management LLC now owns 68,962 shares of the financial services provider worth $1,705,000 after purchasing an additional 25,531 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in shares of Midland States Bancorp by 110.4% during the third quarter. BNP Paribas Arbitrage SA now owns 6,879 shares of the financial services provider valued at $170,000 after buying an additional 3,610 shares last quarter. Hedge funds and other institutional investors hold 58.09% of the company’s shares.
MSBI has been the subject of several recent analyst reports. Stephens downgraded Midland States Bancorp from an “overweight” rating to an “equal weight” rating and set a price target of $28.00 for the stock. in a report on Wednesday, October 13. Zacks Investment Research upgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a Wednesday, January 5, report. Finally, TheStreet upgraded Midland States Bancorp from a “c+” rating to a “b-” rating in a Monday, October 18 report.
Midland States Bancorp Company Profile
Midland States Bancorp, Inc is a bank holding company that provides commercial and consumer banking products and services. It operates through the following segments: Banking, Wealth Management and Others. The Bank segment offers financial products and services, such as loans, mortgage sales and services, letters of credit, deposit products, merchant services and corporate cash management services.
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