Travis Franklin Buys 9,400 Shares of Midland States Bancorp (NASDAQ:MSBI) Stock

Key Points

• Director Travis Franklin bought 9,400 shares on May 5 at an average price of $26.49 per share for about $249,006, a transaction disclosed in an SEC filing.
• Midland beat expectations in the quarter with EPS of $0.79 vs. $0.60 expected and revenue of $81.1M versus $75.6M consensus.
• The company declared a quarterly dividend of $0.32 (annualized $1.28, ~4.6% yield) despite a payout ratio around 108%, and analysts hold a consensus "Hold" rating with an average target of $23.90 while some firms raised targets to the $26–$28 range.

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) Director Travis Franklin bought 9,400 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was 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 $249,006. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Midland States Bancorp Price Performance

Shares of MSBI traded up $0.71 during mid-day trading on Wednesday, reaching $27.79. The company had a trading volume of 216,385 shares, compared to its average volume of 157,704. Midland States Bancorp, Inc. has a twelve month low of $14.24 and a twelve month high of $28.38. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.80. The company's 50-day moving average is $22.84 and its 200-day moving average is $20.92. The company has a market capitalization of $576.09 million, a P/E ratio of 23.55 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its earnings results on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.19. Midland States Bancorp had a return on equity of 11.55% and a net margin of 7.53%.The business had revenue of $81.10 million during the quarter, compared to analysts' expectations of $75.59 million. On average, equities analysts anticipate that Midland States Bancorp, Inc. will post 3.17 EPS for the current year.

Midland States Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.6%. Midland States Bancorp's dividend payout ratio is presently 108.47%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler increased their target price on Midland States Bancorp from $25.50 to $28.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. UBS Group set a $25.50 target price on Midland States Bancorp in a report on Monday, January 26th. Wall Street Zen raised Midland States Bancorp from a "sell" rating to a "hold" rating in a report on Friday, January 23rd. Weiss Ratings raised Midland States Bancorp from a "sell (d+)" rating to a "hold (c)" rating in a report on Monday. Finally, DA Davidson raised their price target on Midland States Bancorp from $23.00 to $26.00 and gave the company a "neutral" rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Midland States Bancorp presently has a consensus rating of "Hold" and an average target price of $23.90.

Institutional Investors Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co increased its holdings in Midland States Bancorp by 33.1% during the 4th 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. Amundi increased its holdings in Midland States Bancorp by 39.4% during the 1st quarter. Amundi now owns 2,194 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 620 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Midland States Bancorp during the 3rd quarter valued at $46,000. Quadrant Capital Group LLC increased its stake in shares of Midland States Bancorp by 302.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider's stock valued at $97,000 after buying an additional 3,457 shares during the period. Finally, Daytona Street Capital LLC acquired a new stake in shares of Midland States Bancorp in the 4th quarter valued at $107,000. 60.93% of the stock is owned by institutional investors and hedge funds.

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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