KLP Kapitalforvaltning AS Has $229,000 Stock Position in Midland States Bancorp, Inc. $MSBI

KLP Kapitalforvaltning AS trimmed its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 26.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,200 shares of the financial services provider’s stock after selling 4,700 shares during the quarter. KLP Kapitalforvaltning AS owned 0.06% of Midland States Bancorp worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its holdings in Midland States Bancorp by 60.4% during the first quarter. LPL Financial LLC now owns 117,505 shares of the financial services provider’s stock valued at $2,012,000 after purchasing an additional 44,230 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Midland States Bancorp by 2.5% during the first quarter. Vanguard Group Inc. now owns 1,209,953 shares of the financial services provider’s stock valued at $20,714,000 after purchasing an additional 29,439 shares in the last quarter. GAMMA Investing LLC boosted its holdings 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 valued at $156,000 after purchasing an additional 8,713 shares in the last quarter. Voya Investment Management LLC bought a new position in shares of Midland States Bancorp in the first quarter valued at approximately $344,000. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of Midland States Bancorp by 163.0% in the first quarter. Y Intercept Hong Kong Ltd now owns 38,346 shares of the financial services provider’s stock valued at $656,000 after acquiring an additional 23,768 shares during the last quarter. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Price Performance

Shares of NASDAQ MSBI opened at $16.45 on Tuesday. The firm has a market cap of $354.33 million, a PE ratio of -21.36 and a beta of 0.72. 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 1-year low of $14.79 and a 1-year high of $28.08. The company has a fifty day moving average price of $17.52 and a 200 day moving average price of $17.35.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Wednesday, March 23rd. The financial services provider reported $0.54 earnings per share for the quarter. Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.30%. The firm had revenue of $70.61 million during the quarter. Research analysts predict 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. Stockholders of record on Friday, August 15th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, August 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.8%. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.31. Midland States Bancorp’s dividend payout ratio (DPR) is currently -166.23%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Midland States Bancorp in a research note on Tuesday, October 14th. Wall Street Zen upgraded shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Piper Sandler reiterated a “neutral” rating and issued a $21.00 target price (up previously from $18.00) on shares of Midland States Bancorp in a research note on Friday, July 11th. Finally, Stephens upgraded shares of Midland States Bancorp to a “hold” rating in a research report on Thursday, September 11th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average price target of $20.75.

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.