Charles Schwab Investment Management Inc. Sells 8,241 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Charles Schwab Investment Management Inc. cut its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 188,009 shares of the financial services provider’s stock after selling 8,241 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.88% of Midland States Bancorp worth $4,208,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Rhumbline Advisers increased its position in shares of Midland States Bancorp by 2.1% during the second quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider’s stock worth $761,000 after acquiring an additional 683 shares during the period. US Bancorp DE increased its position in shares of Midland States Bancorp by 141.6% during the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 2,229 shares during the period. Wedge Capital Management L L P NC increased its position in shares of Midland States Bancorp by 8.8% during the third quarter. Wedge Capital Management L L P NC now owns 28,461 shares of the financial services provider’s stock worth $637,000 after acquiring an additional 2,295 shares during the period. Hsbc Holdings PLC increased its position in shares of 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 acquiring an additional 2,562 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in Midland States Bancorp by 4.4% during the third quarter. Thrivent Financial for Lutherans now owns 71,667 shares of the financial services provider’s stock valued at $1,604,000 after buying an additional 3,027 shares during the period. 60.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the sale, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

MSBI has been the topic of several research reports. Keefe, Bruyette & Woods lifted their price objective 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. StockNews.com lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Piper Sandler lifted their price objective 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.

Midland States Bancorp Trading Up 0.2 %

NASDAQ MSBI opened at $26.45 on Friday. The company has a market capitalization of $566.03 million, a PE ratio of 11.45 and a beta of 0.75. The company has a fifty day moving average of $25.38 and a 200 day moving average of $23.50. Midland States Bancorp, Inc. has a 1 year low of $20.54 and a 1 year high of $28.47. 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 (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. The business had revenue of $124.17 million during the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Research analysts forecast that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.69%. 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.