American Century Companies Inc. Purchases 24,919 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

American Century Companies Inc. increased its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBIGet Rating) by 30.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,371 shares of the financial services provider’s stock after buying an additional 24,919 shares during the period. American Century Companies Inc. owned 0.49% of Midland States Bancorp worth $3,099,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MSBI. Hillsdale Investment Management Inc. acquired a new position in Midland States Bancorp during the 1st quarter worth about $4,934,000. Accurate Wealth Management LLC acquired a new position in Midland States Bancorp during the 1st quarter valued at about $2,052,000. BNP Paribas Arbitrage SA lifted its position in Midland States Bancorp by 384.5% during the 4th quarter. BNP Paribas Arbitrage SA now owns 33,330 shares of the financial services provider’s stock valued at $826,000 after purchasing an additional 26,451 shares during the period. Acadian Asset Management LLC acquired a new position in Midland States Bancorp during the 4th quarter valued at about $632,000. Finally, GSA Capital Partners LLP lifted its position in Midland States Bancorp by 87.5% during the 4th quarter. GSA Capital Partners LLP now owns 34,754 shares of the financial services provider’s stock valued at $862,000 after purchasing an additional 16,218 shares during the period. Institutional investors and hedge funds own 61.87% of the company’s stock.

Midland States Bancorp Stock Performance

Shares of NASDAQ:MSBI opened at $24.66 on Wednesday. The company has a market capitalization of $544.17 million, a price-to-earnings ratio of 6.60 and a beta of 0.90. The firm’s 50 day simple moving average is $25.97 and its 200 day simple moving average is $26.91. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.95 and a quick ratio of 0.95. Midland States Bancorp, Inc. has a fifty-two week low of $22.50 and a fifty-two week high of $30.60.

Midland States Bancorp (NASDAQ:MSBIGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $75.95 million for the quarter, compared to the consensus estimate of $75.80 million. Midland States Bancorp had a net margin of 26.75% and a return on equity of 13.53%. During the same period last year, the company posted $0.86 EPS. As a group, sell-side analysts forecast that Midland States Bancorp, Inc. will post 3.81 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 19th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.16 dividend on an annualized basis and a yield of 4.70%. Midland States Bancorp’s payout ratio is 30.77%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Stephens upped their target price on shares of Midland States Bancorp to $32.00 in a research report on Tuesday, August 23rd. Raymond James assumed coverage on shares of Midland States Bancorp in a research report on Thursday, September 1st. They set a “market perform” rating on the stock. Finally, StockNews.com downgraded shares of Midland States Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 22nd.

Insider Buying and Selling

In related news, President Jeffrey S. Mefford sold 1,600 shares of the stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $25.51, for a total transaction of $40,816.00. Following the completion of the sale, the president now directly owns 26,375 shares of the company’s stock, valued at approximately $672,826.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, President Jeffrey S. Mefford sold 1,600 shares of the stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $25.51, for a total transaction of $40,816.00. Following the completion of the sale, the president now directly owns 26,375 shares of the company’s stock, valued at approximately $672,826.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jerry L. Mcdaniel bought 40,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were acquired at an average cost of $25.00 per share, with a total value of $1,000,000.00. Following the completion of the purchase, the director now owns 20,000 shares in the company, valued at approximately $500,000. The disclosure for this purchase can be found here. In the last three months, insiders sold 4,800 shares of company stock valued at $121,792. 5.80% of the stock is owned by corporate insiders.

About Midland States Bancorp

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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 accepts various deposits, such as checking, savings, money market, and sweep accounts, as well as certificates of deposits.

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

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