Midland States Bancorp Inc (MSBI) Position Lessened by Hennessy Advisors Inc.

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Hennessy Advisors Inc. cut its holdings in Midland States Bancorp Inc (NASDAQ:MSBI) by 28.0% during the 3rd quarter, Holdings Channel reports. The firm owned 90,000 shares of the financial services provider’s stock after selling 35,000 shares during the period. Hennessy Advisors Inc.’s holdings in Midland States Bancorp were worth $2,889,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank grew its stake in shares of Midland States Bancorp by 15.5% in the second quarter. Swiss National Bank now owns 28,300 shares of the financial services provider’s stock worth $970,000 after purchasing an additional 3,800 shares during the last quarter. Zebra Capital Management LLC bought a new stake in shares of Midland States Bancorp in the second quarter worth about $235,000. Wells Fargo & Company MN grew its stake in shares of Midland States Bancorp by 7.9% in the first quarter. Wells Fargo & Company MN now owns 137,084 shares of the financial services provider’s stock worth $4,327,000 after purchasing an additional 10,008 shares during the last quarter. MetLife Investment Advisors LLC grew its stake in shares of Midland States Bancorp by 33.4% in the second quarter. MetLife Investment Advisors LLC now owns 10,034 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 2,513 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Midland States Bancorp by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 470,008 shares of the financial services provider’s stock worth $16,101,000 after purchasing an additional 5,392 shares during the last quarter. 45.60% of the stock is currently owned by institutional investors.

Shares of MSBI opened at $28.94 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 1.39. Midland States Bancorp Inc has a one year low of $28.46 and a one year high of $36.50. The stock has a market capitalization of $759.98 million, a price-to-earnings ratio of 14.54, a P/E/G ratio of 1.89 and a beta of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.03. Midland States Bancorp had a net margin of 7.33% and a return on equity of 8.50%. The business had revenue of $64.23 million during the quarter, compared to analyst estimates of $65.80 million. Sell-side analysts predict that Midland States Bancorp Inc will post 2.42 EPS for the current fiscal year.

In other Midland States Bancorp news, Director John M. Schultz sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $34.20, for a total value of $68,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffrey A. Brunoehler sold 2,822 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $32.03, for a total transaction of $90,388.66. Following the completion of the sale, the senior vice president now owns 31,584 shares of the company’s stock, valued at $1,011,635.52. The disclosure for this sale can be found here. Insiders sold 27,160 shares of company stock valued at $917,374 over the last 90 days. 9.20% of the stock is currently owned by company insiders.

Several research firms recently issued reports on MSBI. Zacks Investment Research cut Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. BidaskClub raised Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, June 20th. Finally, ValuEngine cut Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Friday.

Midland States Bancorp 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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Want to see what other hedge funds are holding MSBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Midland States Bancorp Inc (NASDAQ:MSBI).

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

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