Thrivent Financial for Lutherans Decreases Stock Holdings in Midland States Bancorp, Inc. $MSBI

Thrivent Financial for Lutherans lessened its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 67.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,663 shares of the financial services provider’s stock after selling 31,031 shares during the period. Thrivent Financial for Lutherans owned 0.07% of Midland States Bancorp worth $251,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. AQR Capital Management LLC increased its holdings in Midland States Bancorp by 38.1% in the 2nd quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock valued at $9,370,000 after purchasing an additional 149,175 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Midland States Bancorp in the 2nd quarter valued at about $1,006,000. Jump Financial LLC raised its holdings in Midland States Bancorp by 272.5% during the second quarter. Jump Financial LLC now owns 55,500 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 40,600 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Midland States Bancorp in the second quarter valued at $693,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Midland States Bancorp by 33.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 133,194 shares of the financial services provider’s stock worth $2,307,000 after buying an additional 33,532 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Piper Sandler lifted their target price on Midland States Bancorp from $23.00 to $25.50 and gave the company a “neutral” rating in a research note on Monday, January 26th. Wall Street Zen upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. DA Davidson upped their target price on Midland States Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, January 26th. UBS Group set a $25.50 price objective on Midland States Bancorp in a report on Monday, January 26th. Finally, Keefe, Bruyette & Woods increased their target price on Midland States Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Monday, December 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Midland States Bancorp presently has a consensus rating of “Hold” and a consensus target price of $23.00.

Insider Buying and Selling

In other news, COO Kyle Owen Mooney sold 2,808 shares of the stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $22.67, for a total value of $63,657.36. Following the completion of the transaction, the chief operating officer directly owned 14,207 shares in the company, valued at $322,072.69. This trade represents a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel Edward Casey acquired 5,000 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was purchased at an average cost of $17.89 per share, for a total transaction of $89,450.00. Following the purchase, the insider directly owned 28,254 shares in the company, valued at approximately $505,464.06. This represents a 21.50% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 11,098 shares of company stock valued at $197,324 in the last quarter. Company insiders own 5.27% of the company’s stock.

Midland States Bancorp Stock Up 0.2%

MSBI stock opened at $23.16 on Thursday. Midland States Bancorp, Inc. has a twelve month low of $14.24 and a twelve month high of $24.57. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $499.10 million, a P/E ratio of 22.93 and a beta of 0.66. The firm has a 50 day simple moving average of $22.34 and a 200-day simple moving average of $18.97.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.17). The company had revenue of $85.79 million during the quarter, compared to analyst estimates of $74.49 million. Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.41%. On average, equities research analysts predict that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 13th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, February 13th. This represents a $1.28 annualized dividend and a dividend yield of 5.5%. Midland States Bancorp’s dividend payout ratio is currently 126.73%.

Midland States Bancorp declared that its board has initiated a stock buyback program on Monday, November 3rd that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

About Midland States Bancorp

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.