Schwab Charles Investment Management Inc. lifted its position in shares of Midland States Bancorp Inc (NASDAQ:MSBI) by 73.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,861 shares of the financial services provider’s stock after purchasing an additional 29,536 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Midland States Bancorp were worth $2,205,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. MetLife Investment Advisors LLC purchased a new stake in shares of Midland States Bancorp during the fourth quarter worth about $244,000. Alliancebernstein L.P. boosted its holdings in shares of Midland States Bancorp by 60.6% during the fourth quarter. Alliancebernstein L.P. now owns 17,340 shares of the financial services provider’s stock worth $563,000 after purchasing an additional 6,540 shares during the period. Monarch Partners Asset Management LLC boosted its holdings in shares of Midland States Bancorp by 55.8% during the first quarter. Monarch Partners Asset Management LLC now owns 32,779 shares of the financial services provider’s stock worth $1,035,000 after purchasing an additional 11,740 shares during the period. State of Wisconsin Investment Board purchased a new stake in shares of Midland States Bancorp during the first quarter worth about $3,472,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Midland States Bancorp by 33.8% during the fourth quarter. Wells Fargo & Company MN now owns 127,076 shares of the financial services provider’s stock worth $4,127,000 after purchasing an additional 32,129 shares during the period. Institutional investors own 40.30% of the company’s stock.
In related news, Director R. Robert Funderburg, Jr. sold 85,592 shares of the stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $32.61, for a total value of $2,791,155.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John M. Schultz sold 2,000 shares of the stock in a transaction dated Friday, June 15th. The stock was sold at an average price of $34.18, for a total transaction of $68,360.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,762 shares of company stock valued at $8,045,061. 9.20% of the stock is owned by insiders.
MSBI has been the subject of a number of analyst reports. BidaskClub upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, June 20th. Zacks Investment Research upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Thursday, May 31st.
Midland States Bancorp opened at $34.45 on Tuesday, Marketbeat reports. Midland States Bancorp Inc has a 1 year low of $28.70 and a 1 year high of $36.50. The stock has a market capitalization of $809.59 million, a P/E ratio of 17.31, a P/E/G ratio of 2.06 and a beta of 0.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.25.
Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.03. Midland States Bancorp had a net margin of 4.12% and a return on equity of 7.97%. The company had revenue of $54.79 million during the quarter, compared to the consensus estimate of $55.00 million. equities analysts anticipate that Midland States Bancorp Inc will post 2.38 earnings per share for the current fiscal year.
About Midland States Bancorp
Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides banking and financial products and services to individuals, businesses, municipalities, and other entities. The company's deposit products include checking, savings, money market, and sweep accounts, as well as certificates of deposits, noninterest-bearing and interest-bearing demand deposits, and time deposits.
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