Monarch Partners Asset Management LLC cut its holdings in shares of Midland States Bancorp Inc (NASDAQ:MSBI) by 20.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,049 shares of the financial services provider’s stock after selling 6,730 shares during the period. Monarch Partners Asset Management LLC’s holdings in Midland States Bancorp were worth $836,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zebra Capital Management LLC bought a new stake in Midland States Bancorp during the 2nd quarter worth approximately $235,000. Metropolitan Life Insurance Co. NY grew its position in Midland States Bancorp by 32.1% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 7,086 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 1,723 shares during the last quarter. Assetmark Inc. grew its position in Midland States Bancorp by 63.7% during the 2nd quarter. Assetmark Inc. now owns 7,133 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 2,775 shares during the last quarter. MetLife Investment Advisors LLC grew its position in Midland States Bancorp by 33.4% during the 2nd quarter. MetLife Investment Advisors LLC now owns 10,034 shares of the financial services provider’s stock worth $344,000 after acquiring an additional 2,513 shares during the last quarter. Finally, Cim Investment Mangement Inc. grew its position in Midland States Bancorp by 31.1% during the 2nd quarter. Cim Investment Mangement Inc. now owns 12,279 shares of the financial services provider’s stock worth $421,000 after acquiring an additional 2,916 shares during the last quarter. Institutional investors and hedge funds own 45.42% of the company’s stock.
A number of equities research analysts recently commented on the company. Zacks Investment Research lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, September 8th. BidaskClub lowered Midland States Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Finally, ValuEngine lowered Midland States Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, October 12th.
Shares of MSBI opened at $27.03 on Tuesday. The firm has a market capitalization of $648.70 million, a price-to-earnings ratio of 13.58, a PEG ratio of 1.60 and a beta of 1.36. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.02 and a current ratio of 1.03. Midland States Bancorp Inc has a 52 week low of $23.27 and a 52 week high of $36.06.
Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Friday, October 26th. The financial services provider reported $0.64 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.03. The firm had revenue of $63.35 million for the quarter, compared to analyst estimates of $66.90 million. Midland States Bancorp had a return on equity of 9.23% and a net margin of 9.27%. Analysts forecast that Midland States Bancorp Inc will post 2.45 EPS for the current year.
In other Midland States Bancorp news, SVP Sharon A. Schaubert sold 12,338 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $34.04, for a total value of $419,985.52. Following the transaction, the senior vice president now directly owns 25,007 shares in the company, valued at approximately $851,238.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John M. Schultz sold 2,000 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $34.42, for a total value of $68,840.00. The disclosure for this sale can be found here. Insiders sold a total of 25,160 shares of company stock worth $837,794 over the last quarter. Corporate insiders own 9.20% of the company’s stock.
Midland States Bancorp Company Profile
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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