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Gerald Joseph Carlson, a director at Midland States Bancorp, Inc. (NASDAQ:MSBI), recently purchased 1,000 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The timing appears strategic, as InvestingPro analysis indicates the stock is currently in oversold territory, trading at just 0.69 times book value. The shares were acquired at a price of $20 per share, totaling $20,000. Following this transaction, Carlson’s direct ownership in the company increased to 2,000 shares. This purchase reflects Carlson’s ongoing investment in the Effingham, Illinois-based financial institution, which operates as a state commercial bank. The $423.66 million market cap bank has maintained dividend payments for nine consecutive years, with analyst price targets ranging from $21 to $23. Want deeper insights into insider trading patterns and 11 additional key metrics? Check out InvestingPro.
In other recent news, Midland States Bancorp has undergone several significant developments. Piper Sandler analyst Nathan Race has revised the price target for the company’s shares to $23.00, down from the previous $28.00, while maintaining a neutral rating. This adjustment follows the company’s challenging decisions in the fourth quarter, which led to increased net charge-offs and loan loss provisions. Race also revised the earnings per share estimates for the company for 2025 and 2026 to $2.58 and $2.85, respectively, reflecting a smaller loan portfolio and higher operating expenses.
The company has also announced the retirement of Douglas J. Tucker, Senior Vice President and Corporate Counsel. No information on a successor or the reasons for Tucker’s retirement has been provided. This development comes alongside the appointment of Travis Franklin to Midland States Bancorp’s Board of Directors.
Other recent developments include the adjustment of the company’s stock price target by Piper Sandler to $27.00, up from $26.00, following the bank’s third-quarter performance. This performance showcased higher-than-expected net interest income and core fee income, leading to pre-provision net revenue surpassing estimates. Finally, several firms including DA Davidson, Keefe, Bruyette & Woods, and Stephens have adjusted their price targets for the company due to lower expectations for net interest income and anticipated increases in credit costs, yet maintained their ratings on the company’s stock.
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