Midland States Bancorp, Inc. (NASDAQ:MSBI) is a financial services company that provides a range of banking products and services. The company operates through various segments, including community banking, wealth management, and commercial lending. MSBI competes with other regional banks and financial institutions in the United States.
On January 28, 2025, Spring Donald J., the Chief Accounting Officer of MSBI, purchased 800 shares of Series A Preferred Depositary Shares at $23.75 each. This acquisition increased his total holdings to 1,600 shares. This transaction is documented in the official filing available on the SEC website.
Despite this insider purchase, MSBI faces challenges. The company reported a loss of $2.52 per diluted share for the fourth quarter of 2024, missing the Zacks Consensus Estimate of $0.70. This is a significant drop from the $0.89 earnings per share in the same quarter of 2023, as highlighted by Levi & Korsinsky.
The disappointing financial results led to a 20% drop in MSBI's stock price, closing at $20.00 per share on January 24, 2025. This decline has prompted investigations by Levi & Korsinsky and Bronstein, Gewirtz & Grossman, LLC into potential violations of federal securities laws and claims on behalf of investors.
MSBI's financial metrics reveal a mixed picture. The company has a low debt-to-equity ratio of 0.12 and a strong current ratio of 15.17, indicating financial stability. However, a negative price-to-earnings ratio of -30.73 and a negative earnings yield of -3.25% reflect ongoing losses, raising concerns about its profitability.
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