JPMorgan Chase & Co. Purchases 37,889 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

JPMorgan Chase & Co. grew its position in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 52.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 110,306 shares of the financial services provider’s stock after buying an additional 37,889 shares during the quarter. JPMorgan Chase & Co. owned 0.52% of Midland States Bancorp worth $2,469,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in MSBI. Jacobs Levy Equity Management Inc. increased its stake in Midland States Bancorp by 31.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock valued at $1,996,000 after acquiring an additional 21,416 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Midland States Bancorp by 51.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,370 shares of the financial services provider’s stock valued at $657,000 after purchasing an additional 9,953 shares during the last quarter. Barclays PLC raised its holdings in shares of Midland States Bancorp by 55.2% during the 3rd quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock worth $1,463,000 after buying an additional 23,242 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Midland States Bancorp by 16.0% during the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock worth $9,107,000 after buying an additional 55,555 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Midland States Bancorp by 0.5% in the third quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock valued at $11,460,000 after buying an additional 2,294 shares in the last quarter. Institutional investors own 60.93% of the company’s stock.

Analyst Ratings Changes

MSBI has been the subject of several research analyst reports. StockNews.com raised Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods upped their price objective on shares of Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler raised their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th.

Midland States Bancorp Price Performance

Midland States Bancorp stock opened at $24.61 on Tuesday. The stock has a 50-day moving average price of $25.51 and a two-hundred day moving average price of $23.90. Midland States Bancorp, Inc. has a 12 month low of $20.54 and a 12 month high of $28.10. The company has a market capitalization of $526.65 million, a PE ratio of 10.65 and a beta of 0.76. 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 issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. The business had revenue of $124.17 million during the quarter, compared to analyst estimates of $72.90 million. During the same quarter last year, the business earned $0.78 EPS. Analysts expect that Midland States Bancorp, Inc. will post 2.16 EPS for the current year.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.04%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Insider Buying and Selling

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the transaction, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at approximately $8,433,286.20. The trade was a 3.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by insiders.

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.