EntryPoint Capital LLC Purchases New Position in Midland States Bancorp, Inc. $MSBI

Key Points

• EntryPoint Capital LLC has invested approximately $264,000 to acquire 15,419 shares of Midland States Bancorp, representing 0.07% ownership.
• Midland States Bancorp's stock price increased by 7.0% following the company’s latest quarterly earnings report, though it missed analysts' expectations.
• The company announced an increase in its quarterly dividend to $0.32 per share, resulting in an annualized yield of 6.9%.

EntryPoint Capital LLC purchased 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. The firm purchased 15,419 shares of the financial services provider's stock, valued at approximately $264,000. EntryPoint Capital LLC owned 0.07% of Midland States Bancorp as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of MSBI. Wells Fargo & Company MN lifted its stake in Midland States Bancorp by 22.0% in the 4th 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. Barclays PLC increased its holdings in shares of Midland States Bancorp by 2.6% during the 4th quarter. Barclays PLC now owns 67,065 shares of the financial services provider's stock worth $1,638,000 after buying an additional 1,681 shares during the last quarter. State of Tennessee Department of Treasury acquired a new stake in shares of Midland States Bancorp during the 4th quarter worth approximately $243,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Midland States Bancorp during the 4th quarter worth approximately $201,000. Finally, Aquatic Capital Management LLC increased its holdings 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 buying an additional 1,987 shares during the last quarter. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MSBI. Wall Street Zen downgraded shares of Midland States Bancorp from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Piper Sandler reiterated a "neutral" rating and issued a $21.00 target price (up previously from $18.00) on shares of Midland States Bancorp in a report on Friday, July 11th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Midland States Bancorp from $21.00 to $20.00 and set a "market perform" rating for the company in a research note on Friday, May 2nd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $20.67.

Midland States Bancorp Stock Up 0.3%

Shares of Midland States Bancorp stock traded up $0.06 during trading on Wednesday, hitting $18.57. 48,579 shares of the stock were exchanged, compared to its average volume of 124,284. The stock has a market cap of $399.81 million, a price-to-earnings ratio of -24.09 and a beta of 0.77. The firm's 50-day moving average price is $17.80 and its 200 day moving average price is $17.65. 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 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 data on Thursday, July 24th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.19). The firm had revenue of $82.50 million for the quarter, compared to analysts' expectations of $75.76 million. Midland States Bancorp had a negative return on equity of 1.23% and a negative net margin of 1.50%. As a group, 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 business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 6.9%. This is a boost from Midland States Bancorp's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, August 15th. Midland States Bancorp's dividend payout ratio is presently -166.23%.

About Midland States Bancorp

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.