Midland States Bancorp, Inc. $MSBI Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its stake in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 67.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,663 shares of the financial services provider’s stock after selling 31,031 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Midland States Bancorp were worth $251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of Midland States Bancorp by 38.1% during the second quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock valued at $9,370,000 after purchasing an additional 149,175 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Midland States Bancorp during the 2nd quarter worth about $1,006,000. Jump Financial LLC lifted its stake in Midland States Bancorp by 272.5% during the second quarter. Jump Financial LLC now owns 55,500 shares of the financial services provider’s stock valued at $961,000 after buying an additional 40,600 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Midland States Bancorp during the second quarter valued at about $693,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Midland States Bancorp by 33.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 133,194 shares of the financial services provider’s stock worth $2,307,000 after buying an additional 33,532 shares during the period. 60.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Midland States Bancorp news, EVP Jeremy Andrew Jameson purchased 5,598 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were bought at an average price of $17.69 per share, for a total transaction of $99,028.62. Following the purchase, the executive vice president directly owned 63,412 shares in the company, valued at $1,121,758.28. This trade represents a 9.68% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Kyle Owen Mooney sold 2,808 shares of Midland States Bancorp stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $22.67, for a total transaction of $63,657.36. Following the completion of the sale, the chief operating officer directly owned 14,207 shares of the company’s stock, valued at approximately $322,072.69. The trade was a 16.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have bought 11,098 shares of company stock worth $197,324. Insiders own 5.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MSBI. Keefe, Bruyette & Woods boosted their price target on shares of Midland States Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Monday, December 8th. Piper Sandler boosted their target price on shares of Midland States Bancorp from $23.00 to $25.50 and gave the company a “neutral” rating in a research note on Monday, January 26th. DA Davidson increased their target price on Midland States Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, January 26th. Wall Street Zen upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, UBS Group set a $25.50 price objective on Midland States Bancorp in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $23.00.

Midland States Bancorp Trading Up 0.2%

Midland States Bancorp stock opened at $23.16 on Thursday. Midland States Bancorp, Inc. has a 12 month low of $14.24 and a 12 month high of $24.57. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market cap of $499.10 million, a P/E ratio of 22.93 and a beta of 0.66. The company’s fifty day simple moving average is $22.34 and its 200-day simple moving average is $18.97.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.17). Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.41%. The firm had revenue of $85.79 million for the quarter, compared to analyst estimates of $74.49 million. As a group, sell-side analysts forecast that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp announced that its Board of Directors has authorized a share repurchase program on Monday, November 3rd that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Midland States Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 13th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.28 annualized dividend and a dividend yield of 5.5%. Midland States Bancorp’s payout ratio is presently 126.73%.

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.