American Century Companies Inc. Raises Holdings in Midland States Bancorp, Inc. $MSBI

American Century Companies Inc. boosted its holdings in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 543,869 shares of the financial services provider’s stock after acquiring an additional 30,733 shares during the quarter. American Century Companies Inc. owned about 2.53% of Midland States Bancorp worth $9,420,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Midland States Bancorp by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,209,953 shares of the financial services provider’s stock worth $20,714,000 after purchasing an additional 29,439 shares during the period. Geode Capital Management LLC lifted its position in Midland States Bancorp by 5.2% in the second quarter. Geode Capital Management LLC now owns 605,625 shares of the financial services provider’s stock valued at $10,491,000 after buying an additional 29,829 shares during the last quarter. AQR Capital Management LLC boosted its stake in Midland States Bancorp by 100.7% during the first quarter. AQR Capital Management LLC now owns 391,822 shares of the financial services provider’s stock worth $6,708,000 after buying an additional 196,555 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of Midland States Bancorp by 6.3% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 303,640 shares of the financial services provider’s stock valued at $5,198,000 after acquiring an additional 18,100 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Midland States Bancorp during the first quarter valued at about $2,886,000. Institutional investors and hedge funds own 60.93% of the company’s stock.

Insider Transactions at Midland States Bancorp

In other Midland States Bancorp news, EVP Jeremy Andrew Jameson bought 5,598 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average price of $17.69 per share, with a total value of $99,028.62. Following the transaction, the executive vice president owned 63,412 shares of the company’s stock, valued at approximately $1,121,758.28. The trade was a 9.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel Edward Casey bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were acquired at an average price of $17.89 per share, with a total value of $89,450.00. Following the purchase, the insider owned 28,254 shares of the company’s stock, valued at $505,464.06. The trade was a 21.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 11,098 shares of company stock worth $197,324. Company insiders own 5.27% of the company’s stock.

Midland States Bancorp Trading Up 6.5%

NASDAQ MSBI opened at $20.01 on Friday. Midland States Bancorp, Inc. has a 52 week low of $14.24 and a 52 week high of $27.36. The firm has a 50 day moving average of $16.37 and a two-hundred day moving average of $17.22. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $431.22 million, a PE ratio of -15.76 and a beta of 0.69.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Wednesday, March 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter. The business had revenue of $70.61 million during the quarter. Midland States Bancorp had a negative net margin of 3.80% and a negative return on equity of 3.63%. As a group, research analysts expect that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp declared that its board has approved a share buyback plan on Monday, November 3rd that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Midland States Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, November 14th. Midland States Bancorp’s dividend payout ratio is currently -100.79%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MSBI. Piper Sandler upped their price objective on shares of Midland States Bancorp from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday. Zacks Research cut Midland States Bancorp from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, November 24th. Stephens raised Midland States Bancorp to a “hold” rating in a research note on Thursday, September 11th. Finally, Wall Street Zen upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Midland States Bancorp presently has an average rating of “Reduce” and a consensus price target of $19.50.

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.