40,863 Shares in Midland States Bancorp, Inc. $MSBI Acquired by Principal Financial Group Inc.

Key Points

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Principal Financial Group Inc. bought a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 40,863 shares of the financial services provider's stock, valued at approximately $912,000. Principal Financial Group Inc. owned 0.19% of Midland States Bancorp at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Midland States Bancorp by 10.1% during the 4th quarter. State Street Corp now owns 682,862 shares of the financial services provider's stock worth $14,456,000 after acquiring an additional 62,874 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Midland States Bancorp by 38.1% during the 2nd quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider's stock valued at $9,370,000 after acquiring an additional 149,175 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Midland States Bancorp by 97.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider's stock worth $5,046,000 after purchasing an additional 117,422 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Midland States Bancorp by 9.0% in the 3rd quarter. Bank of America Corp DE now owns 211,795 shares of the financial services provider's stock worth $3,630,000 after purchasing an additional 17,442 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Midland States Bancorp by 10.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 174,098 shares of the financial services provider's stock worth $3,686,000 after purchasing an additional 16,301 shares during the period. 60.93% of the stock is currently owned by institutional investors.

Midland States Bancorp Price Performance

NASDAQ:MSBI opened at $33.67 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The business's 50-day simple moving average is $30.17 and its two-hundred day simple moving average is $25.86. The stock has a market cap of $697.98 million, a PE ratio of 21.58 and a beta of 0.66. Midland States Bancorp, Inc. has a 52 week low of $14.24 and a 52 week high of $34.35.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.78 by $0.04. The business had revenue of $83.74 million for the quarter, compared to the consensus estimate of $80.70 million. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. As a group, analysts forecast that Midland States Bancorp, Inc. will post 3.4 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 3.8%. Midland States Bancorp's payout ratio is currently 82.05%.

Midland States Bancorp declared that its board has authorized a stock buyback plan on Wednesday, May 6th that authorizes the company to buyback $45.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

MSBI has been the subject of several recent research reports. DA Davidson boosted their price target on Midland States Bancorp from $30.00 to $33.00 and gave the company a "neutral" rating in a report on Monday. Wall Street Zen raised Midland States Bancorp from a "hold" rating to a "buy" rating in a research note on Saturday. Weiss Ratings raised Midland States Bancorp from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, May 4th. Zacks Research upgraded Midland States Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 28th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Midland States Bancorp from $28.00 to $31.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.10.

Insider Buying and Selling

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 8,383 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total value of $285,022.00. Following the completion of the transaction, the chief executive officer directly owned 400,971 shares in the company, valued at $13,633,014. This represents a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Travis Franklin acquired 9,400 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were bought at an average cost of $26.49 per share, with a total value of $249,006.00. Following the completion of the acquisition, the director owned 9,400 shares in the company, valued at approximately $249,006. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 8.57% of the stock is currently owned by insiders.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company's offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.

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