Charles Schwab Investment Management Inc. Reduces Holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Charles Schwab Investment Management Inc. decreased its position in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 4.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 188,009 shares of the financial services provider’s stock after selling 8,241 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Midland States Bancorp were worth $4,208,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. US Bancorp DE lifted its holdings in Midland States Bancorp by 141.6% during the 3rd quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after buying an additional 2,229 shares in the last quarter. Quest Partners LLC acquired a new position in Midland States Bancorp in the third quarter valued at $148,000. Comerica Bank increased its stake in Midland States Bancorp by 950.4% in the first quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock valued at $188,000 after purchasing an additional 6,757 shares during the period. SG Americas Securities LLC acquired a new position in Midland States Bancorp in the second quarter valued at $218,000. Finally, Squarepoint Ops LLC acquired a new position in Midland States Bancorp in the second quarter valued at $248,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the transaction, the chief executive officer now directly owns 343,935 shares in the company, valued at approximately $8,433,286.20. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MSBI has been the topic of several analyst reports. Piper Sandler lifted their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. StockNews.com downgraded shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Keefe, Bruyette & Woods upped their price target on shares of Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th.

Midland States Bancorp Trading Up 0.2 %

NASDAQ:MSBI opened at $26.45 on Friday. The business’s 50-day moving average is $25.38 and its two-hundred day moving average is $23.50. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. Midland States Bancorp, Inc. has a 12 month low of $20.54 and a 12 month high of $28.47. The firm has a market capitalization of $566.03 million, a PE ratio of 11.45 and a beta of 0.75.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.11. The firm had revenue of $124.17 million during the quarter, compared to analyst estimates of $72.90 million. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. During the same period in the previous year, the company earned $0.78 earnings per share. Research analysts predict that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend was Monday, November 18th. Midland States Bancorp’s dividend payout ratio is currently 53.68%.

Midland States Bancorp Profile

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.