Kyle Owen Mooney Sells 1,198 Shares of Midland States Bancorp (NASDAQ:MSBI) Stock

Key Points

• COO Kyle Owen Mooney sold 1,198 Midland States Bancorp shares at an average price of $33.51, generating approximately $40,145. He retained 14,099 shares after reducing his ownership by 7.83%.
• Midland States Bancorp reported quarterly EPS of $0.82, exceeding the $0.78 analyst consensus, while revenue of $83.74 million also topped estimates. The company raised its quarterly dividend to $0.33 per share, yielding about 4%, and authorized a $45 million share-repurchase program.
• Despite recent analyst price-target increases and some upgrades, the stock carries a consensus “Hold” rating with a $29.10 target price. Shares recently traded near $33.32, close to their one-year high of $35.10.

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) COO Kyle Owen Mooney sold 1,198 shares of Midland States Bancorp stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $33.51, for a total value of $40,144.98. Following the completion of the sale, the chief operating officer owned 14,099 shares of the company's stock, valued at $472,457.49. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Midland States Bancorp Stock Performance

Shares of MSBI traded down $0.06 during mid-day trading on Monday, hitting $33.32. 204,540 shares of the company traded hands, compared to its average volume of 163,933. The stock has a market cap of $691.39 million, a price-to-earnings ratio of 21.36 and a beta of 0.66. The stock has a 50-day moving average price of $31.34 and a two-hundred day moving average price of $26.66. Midland States Bancorp, Inc. has a 1 year low of $14.24 and a 1 year high of $35.10. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.78 and a current ratio of 0.78.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. The business had revenue of $83.74 million during the quarter, compared to analyst estimates of $80.70 million. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. Equities analysts anticipate that Midland States Bancorp, Inc. will post 3.4 earnings per share for the current year.

Midland States Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 14th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Friday, August 14th. This is a positive change from Midland States Bancorp's previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. Midland States Bancorp's payout ratio is 84.62%.

Midland States Bancorp declared that its board has initiated a share repurchase program on Wednesday, May 6th that allows the company to repurchase $45.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Hedge Funds Weigh In On Midland States Bancorp

Several large investors have recently made changes to their positions in the business. Amundi increased its holdings in Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 620 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Midland States Bancorp by 33.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 503 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Midland States Bancorp in the third quarter worth about $46,000. Legal & General Group Plc bought a new stake in shares of Midland States Bancorp in the second quarter worth about $58,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Midland States Bancorp by 302.7% in the fourth quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider's stock worth $97,000 after buying an additional 3,457 shares in the last quarter. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. DA Davidson upped their price objective on Midland States Bancorp from $30.00 to $33.00 and gave the stock a "neutral" rating in a research note on Monday, July 27th. Piper Sandler upped their price target on Midland States Bancorp from $32.00 to $35.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Wall Street Zen raised Midland States Bancorp from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Zacks Research upgraded Midland States Bancorp from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Midland States Bancorp in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $29.10.

About Midland States Bancorp

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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