Russell Investments Group Ltd. Has $620,000 Holdings in Midland States Bancorp, Inc. $MSBI

Russell Investments Group Ltd. decreased its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 10.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,239 shares of the financial services provider’s stock after selling 4,311 shares during the quarter. Russell Investments Group Ltd. owned about 0.17% of Midland States Bancorp worth $620,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Aquatic Capital Management LLC boosted its position in Midland States Bancorp by 141.9% during the fourth quarter. Aquatic Capital Management LLC now owns 3,387 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 1,987 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Midland States Bancorp by 136.9% in the 4th quarter. Point72 Asset Management L.P. now owns 4,730 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 2,733 shares during the period. CWM LLC lifted its stake in shares of Midland States Bancorp by 162.5% in the 1st quarter. CWM LLC now owns 7,416 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 4,591 shares during the period. Price T Rowe Associates Inc. MD bought a new stake in shares of Midland States Bancorp during the 4th quarter valued at about $201,000. Finally, GAMMA Investing LLC grew its stake in Midland States Bancorp by 2,114.8% during the first quarter. GAMMA Investing LLC now owns 9,125 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 8,713 shares during the period. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Stock Up 0.1%

MSBI stock opened at $18.42 on Friday. The stock’s 50 day simple moving average is $17.93 and its 200 day simple moving average is $17.62. The company has a market cap of $396.58 million, a P/E ratio of -23.92 and a beta of 0.77. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.83 and a current ratio of 0.88. Midland States Bancorp, Inc. has a fifty-two week low of $14.79 and a fifty-two week high of $28.08.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.19). Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.23%. The firm had revenue of $82.50 million for the quarter, compared to the consensus estimate of $75.76 million. On average, research analysts expect that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.9%. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, August 15th. Midland States Bancorp’s payout ratio is -166.23%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wall Street Zen lowered Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, August 22nd. Piper Sandler reiterated a “neutral” rating and issued a $21.00 price objective (up previously from $18.00) on shares of Midland States Bancorp in a research note on Friday, July 11th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Midland States Bancorp currently has an average rating of “Hold” and a consensus target price of $20.67.

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.