Accurate Wealth Management LLC Acquires Shares of 71,095 Midland States Bancorp, Inc. (NASDAQ:MSBI)

Accurate Wealth Management LLC acquired a new stake in Midland States Bancorp, Inc. (NASDAQ:MSBIGet Rating) in the first quarter, HoldingsChannel reports. The institutional investor acquired 71,095 shares of the financial services provider’s stock, valued at approximately $2,052,000. Midland States Bancorp makes up about 0.9% of Accurate Wealth Management LLC’s investment portfolio, making the stock its 18th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MSBI. Allspring Global Investments Holdings LLC acquired a new stake in Midland States Bancorp during the fourth quarter worth about $312,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Midland States Bancorp by 117.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,464 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 2,414 shares during the period. Advisor Group Holdings Inc. raised its stake in Midland States Bancorp by 559.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,085 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 2,617 shares during the period. BHZ Capital Management LP raised its stake in Midland States Bancorp by 17.3% during the fourth quarter. BHZ Capital Management LP now owns 15,698 shares of the financial services provider’s stock worth $389,000 after acquiring an additional 2,315 shares during the period. Finally, American Century Companies Inc. grew its position in Midland States Bancorp by 34.7% in the 4th quarter. American Century Companies Inc. now owns 82,452 shares of the financial services provider’s stock worth $2,044,000 after purchasing an additional 21,258 shares during the last quarter. 58.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Jerry L. Mcdaniel purchased 2,500 shares of Midland States Bancorp stock in a transaction that occurred on Friday, May 20th. The stock was acquired at an average price of $24.77 per share, for a total transaction of $61,925.00. Following the transaction, the director now owns 7,500 shares in the company, valued at $185,775. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Midland States Bancorp news, President Jeffrey S. Mefford sold 1,600 shares of the stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $24.10, for a total value of $38,560.00. Following the completion of the sale, the president now owns 27,975 shares in the company, valued at approximately $674,197.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jerry L. Mcdaniel bought 2,500 shares of the business’s stock in a transaction on Friday, May 20th. The stock was bought at an average price of $24.77 per share, with a total value of $61,925.00. Following the transaction, the director now owns 7,500 shares in the company, valued at $185,775. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 4,800 shares of company stock worth $122,976. Corporate insiders own 5.80% of the company’s stock.

Midland States Bancorp Price Performance

Shares of Midland States Bancorp stock traded up $0.29 on Monday, hitting $28.57. The company had a trading volume of 657 shares, compared to its average volume of 79,862. The business has a 50-day simple moving average of $25.37 and a 200-day simple moving average of $27.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $630.45 million, a PE ratio of 7.50 and a beta of 0.91. Midland States Bancorp, Inc. has a 52 week low of $22.50 and a 52 week high of $30.60.

Midland States Bancorp (NASDAQ:MSBIGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. Midland States Bancorp had a net margin of 26.75% and a return on equity of 13.53%. During the same period in the previous year, the firm earned $0.86 earnings per share. Research analysts expect that Midland States Bancorp, Inc. will post 3.85 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 19th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, August 18th. Midland States Bancorp’s payout ratio is 30.77%.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Midland States Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 22nd.

Midland States Bancorp Profile

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Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Wealth Management, and Other segments. The company accepts various deposits, such as checking, savings, money market, and sweep accounts, as well as certificates of deposits.

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

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