Creative Planning Grows Position in Midland States Bancorp, Inc. $MSBI

Creative Planning grew its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 155.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,091 shares of the financial services provider’s stock after acquiring an additional 32,329 shares during the quarter. Creative Planning owned 0.25% of Midland States Bancorp worth $920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Midland States Bancorp by 129.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,533 shares of the financial services provider’s stock valued at $215,000 after purchasing an additional 7,072 shares in the last quarter. LPL Financial LLC lifted its position in shares of Midland States Bancorp by 60.4% during the 1st quarter. LPL Financial LLC now owns 117,505 shares of the financial services provider’s stock worth $2,012,000 after buying an additional 44,230 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Midland States Bancorp by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 1,209,953 shares of the financial services provider’s stock worth $20,714,000 after buying an additional 29,439 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Midland States Bancorp by 25.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 32,842 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 6,558 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Midland States Bancorp during the first quarter valued at approximately $2,886,000. Institutional investors own 60.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MSBI. Wall Street Zen upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, September 5th. Zacks Research lowered shares of Midland States Bancorp from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 6th. Piper Sandler lowered their price objective on shares of Midland States Bancorp from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 4th. Stephens upgraded shares of Midland States Bancorp to a “hold” rating in a research note on Thursday, September 11th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, November 24th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $19.25.

Midland States Bancorp Price Performance

NASDAQ MSBI opened at $16.56 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.02. The company has a market cap of $356.90 million, a PE ratio of -21.51 and a beta of 0.77. Midland States Bancorp, Inc. has a 52 week low of $14.24 and a 52 week high of $27.36. The firm’s 50-day simple moving average is $16.30 and its two-hundred day simple moving average is $17.19.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Wednesday, March 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter. The company had revenue of $70.61 million for the quarter. Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.30%. Research analysts predict that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Friday, November 14th. Midland States Bancorp’s dividend payout ratio (DPR) is presently -100.79%.

Midland States Bancorp announced that its board has initiated a share repurchase plan on Monday, November 3rd that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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.