Charles Schwab Investment Management Inc. Sells 6,813 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Charles Schwab Investment Management Inc. decreased its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 3.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 181,196 shares of the financial services provider’s stock after selling 6,813 shares during the period. Charles Schwab Investment Management Inc. owned 0.85% of Midland States Bancorp worth $4,421,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of MSBI. Point72 DIFC Ltd acquired a new stake in Midland States Bancorp during the third quarter worth approximately $31,000. R Squared Ltd bought a new position in shares of Midland States Bancorp during the fourth quarter worth approximately $39,000. Point72 Asset Management L.P. acquired a new stake in Midland States Bancorp during the 3rd quarter worth approximately $45,000. Quantbot Technologies LP lifted its holdings in Midland States Bancorp by 25.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 507 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in Midland States Bancorp in the 3rd quarter valued at $148,000. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Stock Down 2.4 %

MSBI stock opened at $17.66 on Wednesday. The company has a market cap of $377.94 million, a PE ratio of -16.82 and a beta of 0.71. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. Midland States Bancorp, Inc. has a 52 week low of $17.54 and a 52 week high of $28.08. The business has a 50-day simple moving average of $19.83 and a 200 day simple moving average of $22.80.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results 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 return on equity of 1.95% and a negative net margin of 2.74%. Sell-side analysts anticipate that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date was Friday, February 14th. Midland States Bancorp’s dividend payout ratio is presently -118.10%.

Wall Street Analyst Weigh In

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

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.