Geode Capital Management LLC Acquires 6,273 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Geode Capital Management LLC raised its holdings in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 1.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 518,209 shares of the financial services provider’s stock after purchasing an additional 6,273 shares during the period. Geode Capital Management LLC owned 2.42% of Midland States Bancorp worth $12,648,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Street Corp raised its stake in Midland States Bancorp by 2.5% in the third quarter. State Street Corp now owns 587,947 shares of the financial services provider’s stock worth $13,158,000 after buying an additional 14,157 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Midland States Bancorp by 7.2% during the 4th quarter. American Century Companies Inc. now owns 475,642 shares of the financial services provider’s stock worth $11,606,000 after purchasing an additional 31,859 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Midland States Bancorp by 36.9% during the 4th quarter. Bank of New York Mellon Corp now owns 209,244 shares of the financial services provider’s stock worth $5,106,000 after purchasing an additional 56,441 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Midland States Bancorp by 33.8% during the fourth quarter. JPMorgan Chase & Co. now owns 147,560 shares of the financial services provider’s stock valued at $3,600,000 after purchasing an additional 37,254 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in Midland States Bancorp by 43.1% in the fourth quarter. Prudential Financial Inc. now owns 142,029 shares of the financial services provider’s stock valued at $3,466,000 after purchasing an additional 42,800 shares during the last quarter. Institutional investors own 60.93% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Midland States Bancorp Trading Up 1.7 %

Shares of Midland States Bancorp stock opened at $15.97 on Tuesday. The firm’s 50 day simple moving average is $17.71 and its two-hundred day simple moving average is $21.92. The firm has a market capitalization of $341.77 million, a price-to-earnings ratio of -15.21 and a beta of 0.58. Midland States Bancorp, Inc. has a 12-month low of $14.79 and a 12-month high of $28.08. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Analysts predict that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors 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 dividend yield of 7.76%. Midland States Bancorp’s dividend payout ratio (DPR) is presently -118.10%.

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.