Renaissance Technologies LLC decreased its position in shares of Midland States Bancorp (NASDAQ:MSBI) by 39.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,908 shares of the financial services provider’s stock after selling 57,100 shares during the quarter. Renaissance Technologies LLC owned approximately 0.47% of Midland States Bancorp worth $2,888,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MSBI. SG Americas Securities LLC purchased a new position in shares of Midland States Bancorp during the 3rd quarter valued at $184,000. Wells Fargo & Company MN lifted its stake in shares of Midland States Bancorp by 12.9% during the 3rd quarter. Wells Fargo & Company MN now owns 94,947 shares of the financial services provider’s stock valued at $3,008,000 after buying an additional 10,817 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Midland States Bancorp by 52.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 39,233 shares of the financial services provider’s stock valued at $1,243,000 after buying an additional 13,533 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Midland States Bancorp during the 3rd quarter valued at $3,248,000. Finally, Allianz Asset Management GmbH purchased a new position in shares of Midland States Bancorp during the 3rd quarter valued at $684,000. Institutional investors own 36.19% of the company’s stock.
In other news, Director John M. Schultz sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $30.03, for a total value of $60,060.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeffrey G. Ludwig sold 1,784 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $32.80, for a total transaction of $58,515.20. Following the completion of the sale, the chief financial officer now owns 135,714 shares in the company, valued at $4,451,419.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,760 shares of company stock worth $976,521. Corporate insiders own 9.20% of the company’s stock.
Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.17). The company had revenue of $50.03 million during the quarter, compared to analysts’ expectations of $54.10 million. Midland States Bancorp had a return on equity of 8.71% and a net margin of 7.56%. equities analysts expect that Midland States Bancorp will post 2.26 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Midland States Bancorp from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 4th. BidaskClub upgraded shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, February 10th. Finally, ValuEngine cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd.
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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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