American Century Companies Inc. Acquires 37,494 Shares of Midland States Bancorp, Inc. $MSBI

Key Points

• American Century Companies Inc. increased its stake in Midland States Bancorp by 7.9%, owning approximately 2.40% of the company, valued at around $8.79 million.
• Midland States Bancorp reported EPS of $0.44 for the last quarter, missing expectations, and had a negative net margin of 1.50%.
• The company recently announced a quarterly dividend of $0.32 per share, reflecting a yield of 6.9% and a positive change from its previous dividend.

American Century Companies Inc. raised its holdings in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 513,136 shares of the financial services provider's stock after buying an additional 37,494 shares during the period. American Century Companies Inc. owned about 2.40% of Midland States Bancorp worth $8,785,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aquatic Capital Management LLC raised 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 acquiring an additional 1,987 shares during the last quarter. Point72 Asset Management L.P. raised its stake in shares of 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 valued at $115,000 after acquiring an additional 2,733 shares during the last quarter. CWM LLC raised its stake in shares of Midland States Bancorp by 162.5% during the first 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 last quarter. GAMMA Investing LLC raised its stake in shares of Midland States Bancorp by 2,114.8% during the first 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 last quarter. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Midland States Bancorp during the fourth quarter valued at about $201,000. 60.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MSBI. Wall Street Zen downgraded shares of Midland States Bancorp from a "hold" rating to a "sell" rating in a research note on Friday, August 22nd. Piper Sandler reissued a "neutral" rating and issued a $21.00 price target (up from $18.00) on shares of Midland States Bancorp in a research note on Friday, July 11th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Midland States Bancorp presently has an average rating of "Hold" and a consensus target price of $20.67.

Midland States Bancorp Trading Up 0.1%

MSBI stock traded up $0.02 during trading on Monday, reaching $18.42. The company had a trading volume of 93,064 shares, compared to its average volume of 121,858. Midland States Bancorp, Inc. has a 52 week low of $14.79 and a 52 week high of $28.08. The company has a market cap of $396.58 million, a P/E ratio of -23.92 and a beta of 0.78. The business has a 50 day moving average of $17.97 and a 200 day moving average of $17.60. 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 quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $75.76 million. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were paid a dividend of $0.32 per share. This is a positive change from Midland States Bancorp's previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, August 15th. Midland States Bancorp's payout ratio is -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.