Empowered Funds LLC Purchases 3,752 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Empowered Funds LLC boosted its position in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,651 shares of the financial services provider’s stock after acquiring an additional 3,752 shares during the period. Empowered Funds LLC owned 0.34% of Midland States Bancorp worth $1,648,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. EntryPoint Capital LLC acquired a new position in shares of Midland States Bancorp in the 1st quarter valued at $42,000. US Bancorp DE lifted its stake in Midland States Bancorp by 141.6% in the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 2,229 shares during the last quarter. Comerica Bank grew its position in shares of Midland States Bancorp by 950.4% in the 1st quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock valued at $188,000 after acquiring an additional 6,757 shares during the period. SG Americas Securities LLC acquired a new position in shares of Midland States Bancorp during the 2nd quarter worth about $218,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Midland States Bancorp in the 2nd quarter valued at about $248,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the transaction, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is owned by company insiders.

Analyst Ratings Changes

MSBI has been the topic of several research analyst reports. StockNews.com upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Piper Sandler raised their price target on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th.

Midland States Bancorp Stock Performance

NASDAQ:MSBI opened at $26.80 on Friday. The stock has a 50 day simple moving average of $23.78 and a 200 day simple moving average of $23.08. The stock has a market cap of $573.52 million, a P/E ratio of 11.70 and a beta of 0.74. Midland States Bancorp, Inc. has a 1-year low of $20.54 and a 1-year high of $28.47. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79.

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

Midland States Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 4.63%. Midland States Bancorp’s dividend payout ratio is presently 53.68%.

About Midland States Bancorp

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.