Midland States Bancorp Inc (MSBI) Position Lessened by Hennessy Advisors Inc.

Hennessy Advisors Inc. lessened its holdings in Midland States Bancorp Inc (NASDAQ:MSBI) by 28.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,000 shares of the financial services provider’s stock after selling 35,000 shares during the period. Hennessy Advisors Inc. owned 0.38% of Midland States Bancorp worth $2,889,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MSBI. BlackRock Inc. raised its position in shares of Midland States Bancorp by 30.1% in the second quarter. BlackRock Inc. now owns 1,334,886 shares of the financial services provider’s stock worth $45,733,000 after buying an additional 308,568 shares in the last quarter. FMR LLC raised its position in shares of Midland States Bancorp by 25.2% in the second quarter. FMR LLC now owns 1,060,253 shares of the financial services provider’s stock worth $36,324,000 after buying an additional 213,320 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Midland States Bancorp by 51.4% in the second quarter. Dimensional Fund Advisors LP now owns 343,521 shares of the financial services provider’s stock worth $11,769,000 after buying an additional 116,594 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Midland States Bancorp by 60.4% in the second quarter. Wells Fargo & Company MN now owns 219,882 shares of the financial services provider’s stock worth $7,533,000 after buying an additional 82,798 shares in the last quarter. Finally, Northern Trust Corp raised its position in Midland States Bancorp by 42.4% during the second quarter. Northern Trust Corp now owns 230,361 shares of the financial services provider’s stock valued at $7,892,000 after purchasing an additional 68,578 shares in the last quarter. Institutional investors own 45.60% of the company’s stock.

In other news, SVP Jeffrey A. Brunoehler sold 2,822 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $32.03, for a total transaction of $90,388.66. Following the transaction, the senior vice president now directly owns 31,584 shares of the company’s stock, valued at $1,011,635.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Sharon A. Schaubert sold 12,338 shares of the firm’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $34.04, for a total value of $419,985.52. Following the transaction, the senior vice president now directly owns 25,007 shares in the company, valued at $851,238.28. The disclosure for this sale can be found here. Insiders have sold 27,160 shares of company stock worth $917,374 in the last 90 days. Company insiders own 9.20% of the company’s stock.

A number of research firms have weighed in on MSBI. BidaskClub upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, June 20th. Zacks Investment Research upgraded Midland States Bancorp from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Friday, June 22nd. Finally, ValuEngine downgraded Midland States Bancorp from a “hold” rating to a “sell” rating in a research report on Friday.

NASDAQ MSBI opened at $28.94 on Friday. Midland States Bancorp Inc has a twelve month low of $28.46 and a twelve month high of $36.50. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 1.39. The stock has a market cap of $759.98 million, a price-to-earnings ratio of 14.54, a PEG ratio of 1.89 and a beta of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.03. Midland States Bancorp had a return on equity of 8.50% and a net margin of 7.33%. The business had revenue of $64.23 million for the quarter, compared to the consensus estimate of $65.80 million. On average, analysts predict that Midland States Bancorp Inc will post 2.42 EPS for the current fiscal year.

About Midland States Bancorp

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides banking and financial products and services to individuals, businesses, municipalities, and other entities. The company's deposit products include checking, savings, money market, and sweep accounts, as well as certificates of deposits, noninterest-bearing and interest-bearing demand deposits, and time deposits.

Further Reading: What is a Fiduciary?

Institutional Ownership by Quarter for Midland States Bancorp (NASDAQ:MSBI)

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