AQR Capital Management LLC Raises Stock Position in Midland States Bancorp, Inc. $MSBI

Key Points

• AQR Capital Management LLC increased its holdings in Midland States Bancorp, Inc. by 100.7%, owning approximately 1.83% of the company with a value of $6.7 million following the acquisition of 196,555 additional shares.
• Midland States Bancorp recently announced a quarterly dividend increase to $0.32 per share, yielding 7.0%, up from the previous dividend of $0.31.
• The company reported a negative net margin of 1.50% and missed earnings expectations with an EPS of $0.44, below the consensus estimate of $0.63.

AQR Capital Management LLC lifted its stake in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 100.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 391,822 shares of the financial services provider's stock after buying an additional 196,555 shares during the period. AQR Capital Management LLC owned approximately 1.83% of Midland States Bancorp worth $6,708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Amundi lifted its stake in shares of Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 620 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in Midland States Bancorp by 136.9% during the 4th quarter. Point72 Asset Management L.P. now owns 4,730 shares of the financial services provider's stock worth $115,000 after acquiring an additional 2,733 shares during the period. Quantbot Technologies LP grew its holdings in Midland States Bancorp by 162.5% during the 1st quarter. Quantbot Technologies LP now owns 5,585 shares of the financial services provider's stock worth $96,000 after acquiring an additional 3,457 shares during the period. CWM LLC boosted its position in shares of Midland States Bancorp by 162.5% during the 1st quarter. CWM LLC now owns 7,416 shares of the financial services provider's stock worth $127,000 after purchasing an additional 4,591 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Midland States Bancorp during the 4th quarter worth about $201,000. 60.93% of the stock is currently owned by institutional investors.

Midland States Bancorp Trading Up 1.8%

Shares of NASDAQ MSBI traded up $0.31 during midday trading on Wednesday, hitting $17.94. 199,517 shares of the company traded hands, compared to its average volume of 116,762. 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 1.02, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a 50-day moving average price of $17.97 and a 200 day moving average price of $17.52. The firm has a market cap of $386.43 million, a P/E ratio of -23.30 and a beta of 0.78.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.19). The business had revenue of $82.50 million during the quarter, compared to analysts' expectations of $75.76 million. Midland States Bancorp had a negative return on equity of 1.30% and a negative net margin of 1.50%. As a group, analysts expect that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current year.

Midland States Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 7.1%. This is a positive change from Midland States Bancorp's previous quarterly dividend of $0.31. The ex-dividend date was Friday, August 15th. Midland States Bancorp's payout ratio is currently -166.23%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $21.00 price target (up previously from $18.00) on shares of Midland States Bancorp in a research report on Friday, July 11th. Wall Street Zen upgraded shares of Midland States Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Finally, Stephens upgraded shares of Midland States Bancorp to a "hold" rating in a research note on Thursday, September 11th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.75.

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.