Midland States Bancorp, Inc. (NASDAQ:MSBI) Position Increased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,607 shares of the financial services provider’s stock after buying an additional 683 shares during the quarter. Rhumbline Advisers owned 0.16% of Midland States Bancorp worth $761,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in shares of Midland States Bancorp during the first quarter worth $1,106,000. Janney Montgomery Scott LLC acquired a new stake in shares of Midland States Bancorp during the first quarter worth $581,000. Midland Wealth Advisors LLC acquired a new stake in shares of Midland States Bancorp during the fourth quarter worth $1,573,000. Wellington Management Group LLP raised its position in shares of Midland States Bancorp by 5.7% during the fourth quarter. Wellington Management Group LLP now owns 132,424 shares of the financial services provider’s stock worth $3,650,000 after purchasing an additional 7,103 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of Midland States Bancorp by 60.1% during the first quarter. BNP Paribas Financial Markets now owns 20,702 shares of the financial services provider’s stock worth $520,000 after purchasing an additional 7,770 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.

Midland States Bancorp Stock Down 0.9 %

NASDAQ:MSBI opened at $22.35 on Tuesday. The firm has a market capitalization of $480.12 million, a price-to-earnings ratio of 7.60 and a beta of 0.76. Midland States Bancorp, Inc. has a 1-year low of $19.85 and a 1-year high of $28.47. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10. The business’s fifty day moving average price is $22.73 and its 200 day moving average price is $23.03.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.52). The business had revenue of $120.95 million for the quarter, compared to analyst estimates of $74.90 million. Midland States Bancorp had a net margin of 12.10% and a return on equity of 9.24%. During the same period in the previous year, the firm posted $0.87 earnings per share. On average, sell-side analysts forecast that Midland States Bancorp, Inc. will post 1.99 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 16th were paid a $0.31 dividend. The ex-dividend date was Friday, August 16th. This represents a $1.24 dividend on an annualized basis and a yield of 5.55%. Midland States Bancorp’s dividend payout ratio (DPR) is currently 42.18%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut their target price on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. Piper Sandler boosted their target price on Midland States Bancorp from $24.50 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th.

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.