As the financial industry continues to navigate through the uncertainties of the market, investors have been keeping a close watch on companies that show signs of stability and growth. One such company is Midland States Bancorp, Inc. (NASDAQ:MSBI), a financial services provider that has caught the attention of PL Capital Advisors LLC.
According to their 13F filing with the Securities and Exchange Commission, PL Capital Advisors LLC purchased a new stake in MSBI during the fourth quarter of last year. With an investment of $426,000, the fund gained ownership of approximately 0.07% in Midland States Bancorp as of its most recent filing.
The investment firm’s decision to invest in MSBI may be attributed to its impressive track record. Over the past few years, Midland States Bancorp has garnered attention from several research analyst reports. Just recently, StockNews.com initiated coverage on shares of Midland States Bancorp and issued a “hold” rating on May 16th.; Piper Sandler dropped their target price on shares of Midland States Bancorp from $25.50 to $21.00 earlier this month as well.
But it’s not just analysts who have taken note of MSBI’s potential for growth – even investors are set to benefit from their timely purchase. The firm announced its quarterly dividend that would be paid out on Friday, May 19th which is great news for shareholders.
Investors who were able to purchase shares before May 12th will receive a dividend payout worth $0.30 per share, representing a yield of 6.33% and an annualized payout ratio at around 28%. These numbers highlight how substantial dividends are for investors looking for long-term returns by investing in fundamentally strong companies like MSBI.
Overall, these developments point towards a promising future for shareowners who have invested in this emerging contender in the financial industry landscape. As we look ahead into future quarters, it will be interesting to see if more investors like PL Capital Advisors LLC begin to take notice of MSBI’s potential for growth and ownership in the market.
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Institutional Investors and Hedge Funds Take Notice of Midland States Bancorp
Midland States Bancorp: Institutional Investors and Hedge Funds Show Interest
Midland States Bancorp, a financial services provider with a market capitalization of $417.81 million, has witnessed considerable interest from institutional investors and hedge funds in recent times. BlackRock Inc., for instance, raised its position in the company by 11.9% during the third quarter and now owns $65,095,000 worth of shares after buying an additional 292,712 in the last quarter.
Similarly, Dimensional Fund Advisors LP increased its stake in Midland States Bancorp by 4.4% during the same period and currently owns $28,794,000 worth of shares after purchasing another 51,223 shares in the past quarter. Vanguard Group Inc., State Street Corp., and Thrivent Financial for Lutherans have also shown a significant interest in the company.
Moreover, Midland States Bancorp’s stock opened at $18.97 on Tuesday with a fifty-two week low of $17.98 and a high of $28.88. The business is currently valued at 4.55 times its earnings with a beta of 0.85 as per recent reports.
In other noteworthy developments related to Midland States Bancorp, Director Richard Dean Bingham purchased 5,200 shares at an average cost of $19.15 per share on Tuesday, May 2nd, according to filings submitted to the Securities & Exchange Commission (SEC). Following this transaction event – which was also flagged as per SEC guidelines – Bingham now owns 22,700 shares valued at approximately $434,705.
President Jeffrey S Mefford also sold 1,600 shares of the company’s stock on February 28th at an average price of $26.13 that generated proceeds worth $41,808 for him through this transactiona According to legal filings submitted to SEC under regulatory requirements MEFFORD now owns 30,822 shares worth $805,378.86.
In the past three months, insiders have acquired 7,695 shares of Midland States Bancorp valued at $156,886 and sold 4,800 shares priced at $108,272.
Overall, the recent interest shown by institutional investors and hedge fund managers indicate a growing confidence in Midland States Bancorp’s potential and its prospects as a trustworthy investment opportunity. It remains to be seen how the company continues to fare in the coming months given the market conditions for financial services providers and related trends therein.
