Wedge Capital Management L L P NC Sells 2,433 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Wedge Capital Management L L P NC trimmed its position in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,028 shares of the financial services provider’s stock after selling 2,433 shares during the period. Wedge Capital Management L L P NC owned approximately 0.12% of Midland States Bancorp worth $635,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Rhumbline Advisers lifted its stake in Midland States Bancorp by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider’s stock valued at $761,000 after acquiring an additional 683 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in Midland States Bancorp by 9.9% during the second quarter. Hsbc Holdings PLC now owns 28,562 shares of the financial services provider’s stock worth $652,000 after purchasing an additional 2,562 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Midland States Bancorp by 6.1% in the second quarter. Thrivent Financial for Lutherans now owns 68,640 shares of the financial services provider’s stock valued at $1,554,000 after purchasing an additional 3,976 shares in the last quarter. Bank of Montreal Can acquired a new stake in Midland States Bancorp in the 2nd quarter valued at $1,350,000. Finally, Squarepoint Ops LLC bought a new stake in Midland States Bancorp during the 2nd quarter worth about $248,000. 60.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 343,935 shares in the company, 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 is available at this hyperlink. Company insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on MSBI shares. Keefe, Bruyette & Woods lifted their target price on Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler upped their price objective on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Finally, StockNews.com raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th.

Midland States Bancorp Price Performance

Shares of NASDAQ MSBI opened at $24.90 on Wednesday. Midland States Bancorp, Inc. has a twelve month low of $20.54 and a twelve month high of $28.10. The company has a market cap of $532.88 million, a PE ratio of 10.78 and a beta of 0.76. The business’s 50 day moving average price is $25.51 and its two-hundred day moving average price is $23.90. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79.

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

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a $0.31 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.24 annualized dividend and a yield of 4.98%. Midland States Bancorp’s dividend payout ratio is currently 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.