Alliancebernstein L.P. Sells 1,880 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Alliancebernstein L.P. decreased its holdings in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,807 shares of the financial services provider’s stock after selling 1,880 shares during the period. Alliancebernstein L.P. owned about 0.12% of Midland States Bancorp worth $605,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. R Squared Ltd acquired a new position in shares of Midland States Bancorp in the 4th quarter worth approximately $39,000. Ieq Capital LLC acquired a new position in Midland States Bancorp during the fourth quarter worth $210,000. Teacher Retirement System of Texas bought a new position in shares of Midland States Bancorp during the fourth quarter valued at $260,000. Callan Family Office LLC acquired a new stake in shares of Midland States Bancorp in the 4th quarter valued at $280,000. Finally, AlphaQuest LLC boosted its stake in shares of Midland States Bancorp by 97.4% in the 4th quarter. AlphaQuest LLC now owns 13,062 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 6,445 shares in the last quarter. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Price Performance

MSBI opened at $15.71 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $336.21 million, a P/E ratio of -14.96 and a beta of 0.58. The company’s 50 day simple moving average is $17.78 and its 200-day simple moving average is $21.96. Midland States Bancorp, Inc. has a one year low of $14.79 and a one year high of $28.08.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported ($2.52) EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a negative net margin of 2.74% and a negative return on equity of 1.95%. Sell-side analysts anticipate that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, February 14th. This represents a $1.24 annualized dividend and a yield of 7.89%. Midland States Bancorp’s dividend payout ratio is currently -118.10%.

Analyst Upgrades and Downgrades

MSBI has been the subject of several analyst reports. Piper Sandler cut their price target on shares of Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. StockNews.com cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. DA Davidson decreased their price target on Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods dropped their price target on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating for the company in a report on Monday, January 27th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $23.50.

Midland States Bancorp Profile

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.