Endeavour Capital Advisors Inc. raised its stake in shares of Midland States Bancorp Inc (NASDAQ:MSBI) by 24.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 866,792 shares of the financial services provider’s stock after purchasing an additional 168,905 shares during the quarter. Midland States Bancorp accounts for 11.4% of Endeavour Capital Advisors Inc.’s portfolio, making the stock its largest holding. Endeavour Capital Advisors Inc. owned approximately 4.53% of Midland States Bancorp worth $28,153,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Midland States Bancorp during the third quarter valued at approximately $184,000. Voya Investment Management LLC acquired a new stake in Midland States Bancorp during the second quarter valued at approximately $225,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Midland States Bancorp during the third quarter valued at approximately $294,000. California Public Employees Retirement System acquired a new stake in Midland States Bancorp during the second quarter valued at approximately $311,000. Finally, Prudential Financial Inc. acquired a new stake in Midland States Bancorp during the third quarter valued at approximately $329,000. 38.43% of the stock is currently owned by institutional investors.
Midland States Bancorp Inc (NASDAQ:MSBI) opened at $32.49 on Monday. Midland States Bancorp Inc has a one year low of $28.70 and a one year high of $36.50. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.42. The stock has a market cap of $771.27, a P/E ratio of 16.33, a PEG ratio of 1.82 and a beta of 1.12.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 16th were paid a $0.22 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.71%. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.20. Midland States Bancorp’s payout ratio is 95.65%.
In other news, Director John M. Schultz sold 2,000 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $33.85, for a total value of $67,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeffrey S. Mefford sold 3,260 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $31.70, for a total transaction of $103,342.00. Following the completion of the transaction, the executive vice president now owns 21,868 shares of the company’s stock, valued at approximately $693,215.60. The disclosure for this sale can be found here. Insiders sold 13,260 shares of company stock valued at $424,162 in the last quarter. 14.90% of the stock is currently owned by corporate insiders.
MSBI has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, December 7th. Zacks Investment Research upgraded shares of Midland States Bancorp from a “sell” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Saturday, January 13th. Finally, ValuEngine cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd.
Midland States Bancorp Profile
Midland States Bancorp, Inc is a diversified financial holding company. The Company’s banking subsidiary is Midland States Bank (the Bank). The Company’s principal business activity has been lending to and accepting deposits from individuals, businesses, municipalities and other entities. The Company’s segments include Banking, which provides a range of financial products and services to consumers and businesses, including loan products; commercial equipment leasing; mortgage loan sales and servicing; letters of credit; various types of deposit products, including checking, savings and time deposit accounts; merchant services, and corporate treasury management services; Commercial Federal Housing Administration (FHA) Origination and Servicing, which provides for the origination and servicing of government sponsored mortgages for multifamily and healthcare facilities, and Other, which includes the operating results of the Company and its wealth management business unit.
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