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Effingham, IL—Gerald Joseph Carlson, a director at Midland States Bancorp, Inc. (NASDAQ:MSBI), recently purchased 2,000 shares of the company’s common stock. The transaction, which took place on February 7, 2025, was executed at a price of $19.97 per share, totaling $39,940. The purchase comes as the bank, currently valued at $420 million, offers a substantial 6.2% dividend yield and trades below book value at 0.67x.
Following this acquisition, Carlson’s direct ownership in the bank now stands at 4,000 shares. The purchase reflects Carlson’s continued investment in Midland States Bancorp, a financial institution headquartered in Effingham, Illinois. According to InvestingPro, analysts set price targets between $21-23, suggesting potential upside from current levels. Get access to 10+ additional exclusive ProTips and comprehensive financial metrics with InvestingPro.
In addition to this transaction, Carlson holds 4,095.288 common share equivalents through the Directors Deferred Compensation Plan. These equivalents are the economic equivalent of common stock shares and become payable upon the end of Carlson’s service as a director.
In other recent news, Midland States Bancorp has witnessed noteworthy developments. Piper Sandler analyst Nathan Race has revised the price target for the company’s shares, reducing it to $23 from the previous $28, while maintaining a neutral rating. This adjustment follows the company’s decisions in the fourth quarter that led to increased net charge-offs and loan loss provisions, which could potentially enhance the long-term franchise value. Despite the optimistic outlook, Piper Sandler remains neutral due to limited visibility on the bank’s profitability profile. The analyst has also adjusted the earnings per share estimates for 2025 and 2026 to $2.58 and $2.85, respectively.
In another development, the company announced the retirement of Douglas J. Tucker from his role as Senior Vice President and Corporate Counsel. The change took effect in January 2025, with no information provided on a successor or the reasons for Tucker’s retirement. The announcement was made through an 8-K filing with the Securities and Exchange Commission. These are some of the recent developments within Midland States Bancorp.
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