Kyle Owen Mooney Sells 489 Shares of Midland States Bancorp (NASDAQ:MSBI) Stock

Key Points

• COO Kyle Owen Mooney sold 489 Midland States Bancorp shares for $16,215 at an average price of $33.16, reducing his direct holdings by 3.47% to 13,610 shares. He also sold 1,198 shares the prior week.
• Midland States Bancorp reported quarterly EPS of $0.82, beating estimates of $0.78, while revenue of $83.74 million exceeded expectations. The stock traded near $33.19, close to its 52-week high of $35.10.
• The company raised its quarterly dividend to $0.33 per share, producing a 4.0% yield, and authorized a $45 million share buyback covering up to 8% of outstanding shares. Analysts maintain a consensus “Hold” rating with a $29.10 price target.

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) COO Kyle Owen Mooney sold 489 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $33.16, for a total transaction of $16,215.24. Following the sale, the chief operating officer directly owned 13,610 shares of the company's stock, valued at $451,307.60. The trade was a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kyle Owen Mooney also recently made the following trade(s):

• On Tuesday, August 11th, Kyle Owen Mooney sold 1,198 shares of Midland States Bancorp stock. The stock was sold at an average price of $33.51, for a total transaction of $40,144.98.

Midland States Bancorp Stock Performance

NASDAQ MSBI traded down $0.13 during trading hours on Tuesday, hitting $33.19. 111,256 shares of the company's stock traded hands, compared to its average volume of 163,556. The business's fifty day moving average price is $31.43 and its two-hundred day moving average price is $26.73. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $688.69 million, a P/E ratio of 21.25 and a beta of 0.66. Midland States Bancorp, Inc. has a 52 week low of $14.24 and a 52 week high of $35.10.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 EPS 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 analysts' expectations of $80.70 million. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. Equities research analysts predict that Midland States Bancorp, Inc. will post 3.4 EPS for the current year.

Midland States Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.33 per share. This is a boost from Midland States Bancorp's previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, August 14th. Midland States Bancorp's dividend payout ratio is presently 84.62%.

Midland States Bancorp announced that its board has initiated 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 buy 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.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MSBI shares. Piper Sandler lifted their price target on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a "neutral" rating in a report on Tuesday, July 28th. Keefe, Bruyette & Woods lifted their target price on shares of Midland States Bancorp from $28.00 to $31.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Weiss Ratings restated a "hold (c)" rating on shares of Midland States Bancorp in a research report on Friday, July 31st. 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. Finally, Zacks Research upgraded Midland States Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Midland States Bancorp has a consensus rating of "Hold" and a consensus price target of $29.10.

Hedge Funds Weigh In On Midland States Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Patriot Financial Partners GP II L.P. purchased a new stake in Midland States Bancorp in the 1st quarter worth $9,783,000. Principal Financial Group Inc. purchased a new position in shares of Midland States Bancorp during the first quarter valued at about $912,000. Rhino Investment Partners Inc grew its position in shares of Midland States Bancorp by 22.5% during the first quarter. Rhino Investment Partners Inc now owns 320,288 shares of the financial services provider's stock valued at $7,146,000 after purchasing an additional 58,754 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Midland States Bancorp by 43.3% in the first quarter. Empowered Funds LLC now owns 96,686 shares of the financial services provider's stock worth $2,157,000 after purchasing an additional 29,214 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Midland States Bancorp by 163.0% in the first quarter. Sei Investments Co. now owns 38,076 shares of the financial services provider's stock worth $849,000 after buying an additional 23,600 shares in the last quarter. Institutional investors own 60.93% of the company's stock.

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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