Shell Asset Management Co. Decreases Stock Holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Posted by on Mar 2nd, 2023

Shell Asset Management Co. reduced its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI – Get Rating) by 20.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,785 shares of the financial services provider’s stock after selling 1,517 shares during the period. Shell Asset Management Co.’s holdings in Midland States Bancorp were worth $136,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Hsbc Holdings PLC lifted its position in shares of Midland States Bancorp by 41.8% during the 3rd quarter. Hsbc Holdings PLC now owns 29,202 shares of the financial services provider’s stock worth $697,000 after purchasing an additional 8,609 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Midland States Bancorp during the 3rd quarter worth $284,000. Quadrant Capital Group LLC raised its stake in Midland States Bancorp by 310.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 1,753 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 1,326 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Midland States Bancorp by 4.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,221,622 shares of the financial services provider’s stock worth $28,794,000 after acquiring an additional 51,223 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in Midland States Bancorp by 185.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,044 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 1,327 shares in the last quarter. 60.72% of the stock is owned by hedge funds and other institutional investors.

Midland States Bancorp Trading Up 1.2 %

NASDAQ MSBI opened at $26.36 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $585.98 million, a PE ratio of 6.23 and a beta of 0.88. Midland States Bancorp, Inc. has a one year low of $23.48 and a one year high of $30.48. The firm’s fifty day moving average is $26.33 and its two-hundred day moving average is $26.28.

Midland States Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Friday, February 17th were paid a $0.30 dividend. The ex-dividend date was Thursday, February 16th. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.29. This represents a $1.20 dividend on an annualized basis and a yield of 4.55%. Midland States Bancorp’s payout ratio is currently 28.37%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MSBI shares. DA Davidson reiterated a “neutral” rating on shares of Midland States Bancorp in a research note on Wednesday, December 21st. StockNews.com lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, November 25th.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, President Jeffrey S. Mefford sold 1,600 shares of Midland States Bancorp stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $26.13, for a total value of $41,808.00. Following the transaction, the president now directly owns 30,822 shares in the company, valued at $805,378.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.80% of the stock is currently owned by company insiders.

Midland States Bancorp Company Profile

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Midland States Bancorp, Inc is a bank holding company engaged in the provision of commercial and consumer banking products and services. It operates through the following segments: Banking, Wealth Management, and Other. The Banking segment offers financial products and services such as loans, mortgage loan sales and servicing, letters of credit, deposit products, merchant services, and corporate treasury management services.

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

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