In a recent transaction, Gerald Joseph Carlson, a director at Midland States Bancorp, Inc. (NASDAQ:MSBI), purchased shares of the company's common stock. The transaction, which took place on March 12, 2024, involved Carlson acquiring 1,000 shares at a price of $24.225 per share, amounting to a total investment of $24,225.
This purchase indicates a direct investment in the company's stock, showcasing a commitment from the director's side to the financial institution based in Illinois. Midland States Bancorp, known for its operations in commercial banking, has not disclosed any specific intentions behind Carlson's stock purchase.
Investors often keep an eye on insider transactions as they can provide insights into how the company's leadership perceives the financial health and future prospects of the organization. While such transactions are routine and sometimes part of pre-arranged trading plans, they are still closely monitored for the signals they may send about a company's performance and the confidence insiders have in the firm's direction.
This latest acquisition by Carlson brings his total owned shares in Midland States Bancorp to 1,000, according to the filing. The transaction was formally filed on March 19, 2024, with Carlson's signature confirming the purchase details.
Midland States Bancorp, headquartered in Effingham, Illinois, continues to operate within the state commercial banks sector, providing a range of banking services to its customers. The company's stock performance and insider transactions such as these are of interest to shareholders and potential investors, who may view such investments as a positive sign of faith in the company's value and growth potential.
InvestingPro Insights
Following the recent insider purchase by Director Gerald Joseph Carlson, Midland States Bancorp, Inc. (NASDAQ:MSBI) has demonstrated signals that may interest investors. As per InvestingPro Insights, the company's commitment to shareholder returns is evident, with MSBI having raised its dividend for 8 consecutive years and maintained dividend payments for 9 consecutive years. This consistency in rewarding shareholders aligns with the confidence shown by Carlson's investment.
On the financial front, MSBI's market capitalization stands at $509 million, with a Price/Earnings (P/E) ratio of 7.97, which slightly adjusted to 7.74 for the last twelve months as of Q4 2023. This attractive P/E ratio could signal that the stock is potentially undervalued. Additionally, the company has a Price/Book ratio of 0.75 for the same period, which might appeal to value investors looking for stocks trading below their net asset value. Despite a revenue decline of 7.26% over the last twelve months, analysts predict the company will be profitable this year, as MSBI has been profitable over the same period.
For those seeking further insights and analysis, there are additional InvestingPro Tips available at: https://www.investing.com/pro/MSBI. Investors can use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain access to a comprehensive list of tips to aid in their investment decisions. With 4 analysts having revised their earnings downwards for the upcoming period, it's crucial to consider all available data when evaluating the company's prospects.
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