Russell Investments Group Ltd. grew its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI – Free Report) by 359.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,918 shares of the financial services provider’s stock after acquiring an additional 34,351 shares during the quarter. Russell Investments Group Ltd. owned 0.20% of Midland States Bancorp worth $941,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. Renaissance Technologies LLC raised its stake in shares of Midland States Bancorp by 3.9% during the 4th quarter. Renaissance Technologies LLC now owns 13,300 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 500 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Midland States Bancorp by 36.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,063 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 552 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Midland States Bancorp by 10.4% during the 2nd quarter. Legal & General Group Plc now owns 7,161 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 672 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Midland States Bancorp by 86.7% during the 2nd quarter. Quantbot Technologies LP now owns 1,680 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 780 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Midland States Bancorp by 98.5% during the 1st quarter. Captrust Financial Advisors now owns 1,574 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 781 shares in the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on MSBI shares. DA Davidson upped their price objective on Midland States Bancorp from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 1st. StockNews.com started coverage on Midland States Bancorp in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Piper Sandler increased their price target on Midland States Bancorp from $21.00 to $26.00 in a research note on Tuesday, August 1st. Finally, Stephens increased their price target on Midland States Bancorp from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 2nd.
Midland States Bancorp Stock Up 0.3 %
MSBI opened at $22.20 on Friday. Midland States Bancorp, Inc. has a 1-year low of $17.98 and a 1-year high of $28.59. The stock’s fifty day simple moving average is $22.01 and its 200 day simple moving average is $21.80. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.08. The stock has a market cap of $483.96 million, a PE ratio of 5.47 and a beta of 0.87.
Midland States Bancorp (NASDAQ:MSBI – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.04. The business had revenue of $77.59 million for the quarter, compared to analysts’ expectations of $77.30 million. Midland States Bancorp had a return on equity of 13.81% and a net margin of 22.17%. As a group, research analysts expect that Midland States Bancorp, Inc. will post 3.18 earnings per share for the current year.
Midland States Bancorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Friday, August 11th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 5.41%. The ex-dividend date was Thursday, August 10th. Midland States Bancorp’s payout ratio is 29.56%.
About Midland States Bancorp
Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.
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