Midland States Bancorp, Inc. $MSBI Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 4.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,656 shares of the financial services provider’s stock after selling 1,390 shares during the period. Rhumbline Advisers owned 0.14% of Midland States Bancorp worth $525,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Midland States Bancorp by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,209,953 shares of the financial services provider’s stock worth $20,714,000 after purchasing an additional 29,439 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Midland States Bancorp by 7.9% during the 1st quarter. American Century Companies Inc. now owns 513,136 shares of the financial services provider’s stock worth $8,785,000 after purchasing an additional 37,494 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Midland States Bancorp by 100.7% during the 1st quarter. AQR Capital Management LLC now owns 391,822 shares of the financial services provider’s stock worth $6,708,000 after purchasing an additional 196,555 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Midland States Bancorp by 6.3% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 303,640 shares of the financial services provider’s stock worth $5,198,000 after purchasing an additional 18,100 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Midland States Bancorp during the 1st quarter worth approximately $2,886,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MSBI shares. Stephens upgraded Midland States Bancorp to a “hold” rating in a report on Thursday, September 11th. Wall Street Zen upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $21.00 price objective (up from $18.00) on shares of Midland States Bancorp in a report on Friday, July 11th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Midland States Bancorp currently has a consensus rating of “Hold” and a consensus target price of $20.75.

Midland States Bancorp Stock Down 1.4%

Shares of NASDAQ MSBI opened at $17.75 on Wednesday. The stock has a market cap of $382.34 million, a P/E ratio of -23.05 and a beta of 0.78. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.02. Midland States Bancorp, Inc. has a 12-month low of $14.79 and a 12-month high of $28.08. The business’s fifty day simple moving average is $17.92 and its 200-day simple moving average is $17.49.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.19). The company had revenue of $82.50 million during the quarter, compared to analyst estimates of $75.76 million. Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.30%. As a group, equities analysts predict that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 7.2%. This is a boost 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 dividend payout ratio is currently -166.23%.

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.