Nuveen LLC Acquires New Holdings in Midland States Bancorp, Inc. $MSBI

Key Points

• Nuveen LLC acquired 168,588 shares of Midland States Bancorp, valued at approximately $2.89 million, representing about 0.79% ownership of the company.
• Midland States Bancorp recently declared a quarterly dividend increase to $0.32 per share, boosting its annualized dividend yield to 7.0%.
• The company reported a quarterly EPS of $0.44, missing analyst expectations, but had revenues of $82.5 million exceeding forecasts.

Nuveen LLC purchased a new position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 168,588 shares of the financial services provider's stock, valued at approximately $2,886,000. Nuveen LLC owned about 0.79% of Midland States Bancorp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MSBI. Aquatic Capital Management LLC grew its stake in shares of Midland States Bancorp by 141.9% during the 4th quarter. Aquatic Capital Management LLC now owns 3,387 shares of the financial services provider's stock worth $83,000 after purchasing an additional 1,987 shares during the period. Point72 Asset Management L.P. grew its stake in Midland States Bancorp by 136.9% in the 4th quarter. Point72 Asset Management L.P. now owns 4,730 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 2,733 shares during the period. CWM LLC grew its stake in Midland States Bancorp by 162.5% in the 1st quarter. CWM LLC now owns 7,416 shares of the financial services provider's stock valued at $127,000 after acquiring an additional 4,591 shares during the period. GAMMA Investing LLC grew its stake in Midland States Bancorp by 2,114.8% in the 1st quarter. GAMMA Investing LLC now owns 9,125 shares of the financial services provider's stock valued at $156,000 after acquiring an additional 8,713 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new stake in Midland States Bancorp in the 4th quarter valued at $201,000. Institutional investors and hedge funds own 60.93% of the company's stock.

Analysts Set New Price Targets

MSBI has been the topic of a number of research analyst reports. Piper Sandler reissued a "neutral" rating and issued a $21.00 price target (up previously from $18.00) on shares of Midland States Bancorp in a research note on Friday, July 11th. Wall Street Zen cut shares of Midland States Bancorp from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $20.67.

Midland States Bancorp Trading Up 0.0%

Shares of NASDAQ MSBI traded up $0.01 during trading on Tuesday, hitting $18.43. 48,500 shares of the company were exchanged, compared to its average volume of 123,732. Midland States Bancorp, Inc. has a 12-month low of $14.79 and a 12-month high of $28.08. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.83 and a current ratio of 0.88. The company has a fifty day moving average price of $17.97 and a 200-day moving average price of $17.60. The firm has a market capitalization of $396.69 million, a PE ratio of -23.93 and a beta of 0.78.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.19). Midland States Bancorp had a negative return on equity of 1.23% and a negative net margin of 1.50%.The company had revenue of $82.50 million for the quarter, compared to analysts' expectations of $75.76 million. As a group, equities research analysts expect that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 15th. This represents a $1.28 annualized dividend and a dividend yield of 6.9%. This is a boost from Midland States Bancorp's previous quarterly dividend of $0.31. Midland States Bancorp's payout ratio is presently -166.23%.

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.