Bridgeway Capital Management LLC Reduces Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Bridgeway Capital Management LLC lessened its holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 21.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,200 shares of the financial services provider's stock after selling 32,151 shares during the quarter. Bridgeway Capital Management LLC owned 0.54% of Midland States Bancorp worth $2,811,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Midland States Bancorp during the 4th quarter valued at about $39,000. Aquatic Capital Management LLC boosted its stake in shares of Midland States Bancorp by 141.9% during the fourth quarter. Aquatic Capital Management LLC now owns 3,387 shares of the financial services provider's stock valued at $83,000 after purchasing an additional 1,987 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in shares of Midland States Bancorp in the fourth quarter worth $201,000. Ieq Capital LLC bought a new stake in Midland States Bancorp during the 4th quarter valued at $210,000. Finally, State of Tennessee Department of Treasury purchased a new stake in Midland States Bancorp during the 4th quarter valued at $243,000. Hedge funds and other institutional investors own 60.93% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MSBI. Keefe, Bruyette & Woods dropped their target price on shares of Midland States Bancorp from $21.00 to $20.00 and set a "market perform" rating for the company in a report on Friday, May 2nd. DA Davidson dropped their price objective 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 raised Midland States Bancorp from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Finally, Piper Sandler decreased their target price on Midland States Bancorp from $28.50 to $23.00 and set a "neutral" rating for the company in a report on Tuesday, January 28th.

Midland States Bancorp Trading Down 2.7%

MSBI stock traded down $0.50 during trading on Wednesday, reaching $18.27. The company had a trading volume of 53,018 shares, compared to its average volume of 101,101. The business has a 50 day moving average of $17.13 and a 200 day moving average of $21.34. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $391.00 million, a P/E ratio of -17.40 and a beta of 0.72. Midland States Bancorp, Inc. has a 52 week low of $14.79 and a 52 week high of $28.08.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.05. The company had revenue of $76.16 million during the quarter, compared to analysts' expectations of $72.93 million. Midland States Bancorp had a negative return on equity of 1.95% and a negative net margin of 2.74%. As a group, sell-side analysts forecast that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 16th will be paid a $0.31 dividend. The ex-dividend date is Friday, May 16th. This represents a $1.24 annualized dividend and a dividend yield of 6.79%. Midland States Bancorp's payout ratio is -122.77%.

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.