Bank of New York Mellon Corp Purchases 56,441 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Bank of New York Mellon Corp boosted its position in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 36.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 209,244 shares of the financial services provider’s stock after purchasing an additional 56,441 shares during the period. Bank of New York Mellon Corp owned about 0.98% of Midland States Bancorp worth $5,106,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MSBI. Jacobs Levy Equity Management Inc. grew its holdings in shares of 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Midland States Bancorp by 51.3% in the third 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 worth $657,000 after purchasing an additional 9,953 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Midland States Bancorp in the 4th quarter valued at $356,000. JPMorgan Chase & Co. increased its position in shares of Midland States Bancorp by 52.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock valued at $2,469,000 after purchasing an additional 37,889 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Midland States Bancorp by 55.2% in 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 during the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Analyst Ratings Changes

MSBI has been the subject of a number of research analyst reports. Piper Sandler decreased their price objective on shares of Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. Keefe, Bruyette & Woods decreased their price target on shares of Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating for the company in a research note on Monday, January 27th. StockNews.com downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Finally, DA Davidson decreased their target price on Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $23.50.

Midland States Bancorp Price Performance

MSBI opened at $18.40 on Tuesday. The firm has a 50-day moving average price of $20.48 and a 200-day moving average price of $22.99. Midland States Bancorp, Inc. has a twelve month low of $18.05 and a twelve month high of $28.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $393.78 million, a price-to-earnings ratio of -17.52 and a beta of 0.71.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a negative net margin of 2.74% and a negative return on equity of 1.95%. Equities analysts expect that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.24 dividend on an annualized basis and a yield of 6.74%. Midland States Bancorp’s dividend payout ratio (DPR) is -118.10%.

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.