Jan. 29 at 11:51 AM
$MSBI Breaking News! 🚨 Significant insider moves at Midland States Bancorp as key executives step up after recent market beatdown. CAO Donald Spring invested
$19K in Series A Preferred shares (800 @
$23.75), while Director Jeffrey Smith added
$12.3K in common stock (650 @
$18.96). 💰
The timing is crucial, coming right after Q4's disappointing results showing
$54.8M net loss (
$2.52/share), which missed analyst expectations of
$0.67 EPS by a mile. 📊 Stock took a 20% hit, touching
$20.00 - a new 52-week low. 📉
But here's the interesting part: insiders are buying despite ongoing challenges with credit quality and recent non-core consumer loan portfolio sales. 🎯 These strategic purchases might signal confidence in the bank's turnaround efforts, even as analysts revise price targets downward.
With YTD decline of 16%, all eyes on management's execution in coming quarters. Smart money watching credit metrics and earnings recovery closely! 👀
$MSBI could be setting up for an interesting Q1 2024. 💫
Insider details at https://prismo.pro/stock/msbi🕵️♂️