43,237 Shares in Midland States Bancorp, Inc. $MSBI Purchased by Martingale Asset Management L P

Key Points

• Martingale Asset Management L P purchased 43,237 shares of Midland States Bancorp, valued at approximately $740,000, representing a 0.20% ownership stake as of its latest SEC filing.
• The company has recently announced an increase in its quarterly dividend to $0.32, reflecting a 6.9% yield, despite a negative dividend payout ratio of -166.23%.
• Midland States Bancorp reported earnings of $0.44 per share, missing analysts' expectations, while its revenue surpassed projections at $82.50 million.

Martingale Asset Management L P bought a new position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 43,237 shares of the financial services provider's stock, valued at approximately $740,000. Martingale Asset Management L P owned 0.20% of Midland States Bancorp as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. grew its holdings in Midland States Bancorp by 0.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 90,032 shares of the financial services provider's stock worth $2,197,000 after acquiring an additional 845 shares during the period. Barclays PLC boosted its position in Midland States Bancorp by 2.6% during the fourth quarter. Barclays PLC now owns 67,065 shares of the financial services provider's stock worth $1,638,000 after purchasing an additional 1,681 shares in the last quarter. Aquatic Capital Management LLC boosted its position in 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 worth $83,000 after purchasing an additional 1,987 shares in the last quarter. Wells Fargo & Company MN boosted its position in Midland States Bancorp by 22.0% during the fourth quarter. Wells Fargo & Company MN now owns 14,580 shares of the financial services provider's stock worth $356,000 after purchasing an additional 2,630 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in Midland States Bancorp by 136.9% during the fourth quarter. Point72 Asset Management L.P. now owns 4,730 shares of the financial services provider's stock worth $115,000 after purchasing an additional 2,733 shares in the last quarter. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Stock Performance

NASDAQ MSBI opened at $18.48 on Monday. The company has a market cap of $397.87 million, a PE ratio of -24.00 and a beta of 0.77. The stock's 50 day simple moving average is $17.72 and its 200-day simple moving average is $17.65. Midland States Bancorp, Inc. has a 1-year low of $14.79 and a 1-year high of $28.08. The company has a debt-to-equity ratio of 1.36, a current ratio of 0.88 and a quick ratio of 0.83.

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

Midland States Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were given a $0.32 dividend. 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. The ex-dividend date was Friday, August 15th. Midland States Bancorp's dividend payout ratio (DPR) is -166.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Midland States Bancorp from a "hold" rating to a "sell" rating in a research report on Friday. Keefe, Bruyette & Woods lowered their price target on Midland States Bancorp from $21.00 to $20.00 and set a "market perform" rating on the stock in a research report on Friday, May 2nd. Finally, Piper Sandler reiterated a "neutral" rating and set a $21.00 price target (up previously from $18.00) on shares of Midland States Bancorp in a research report on Friday, July 11th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $20.67.

Midland States Bancorp Company 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.

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