Jacobs Levy Equity Management Inc. Has $1.84 Million Stake in Midland States Bancorp, Inc. $MSBI

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Midland States Bancorp by 19.0% to a total of 107,179 shares, representing approximately 0.50% of the company, valued at about $1.84 million.
• The firm's quarterly dividend was recently raised to $0.32 per share, up from $0.31, resulting in an annualized dividend yield of 7.2%.
• Midland States Bancorp reported a net loss in its most recent earnings, with an EPS of $0.44, missing analyst expectations by $0.19.

Jacobs Levy Equity Management Inc. boosted its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 19.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,179 shares of the financial services provider's stock after buying an additional 17,147 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.50% of Midland States Bancorp worth $1,835,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Amundi grew its stake in Midland States Bancorp by 39.4% during the first quarter. Amundi now owns 2,194 shares of the financial services provider's stock worth $38,000 after buying an additional 620 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of Midland States Bancorp by 162.5% in the first 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 last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Midland States Bancorp by 136.9% in the fourth 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 last quarter. CWM LLC lifted its holdings in shares of Midland States Bancorp by 162.5% in the first quarter. CWM LLC now owns 7,416 shares of the financial services provider's stock worth $127,000 after acquiring an additional 4,591 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Midland States Bancorp by 2,114.8% in the first quarter. GAMMA Investing LLC now owns 9,125 shares of the financial services provider's stock worth $156,000 after acquiring an additional 8,713 shares during the last quarter. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MSBI shares. Wall Street Zen raised shares of Midland States Bancorp from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Piper Sandler reissued 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. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Midland States Bancorp has an average rating of "Hold" and a consensus target price of $20.67.

Midland States Bancorp Stock Down 0.2%

Shares of NASDAQ MSBI opened at $17.87 on Thursday. The company has a 50 day simple moving average of $18.05 and a 200 day simple moving average of $17.57. The firm has a market cap of $384.92 million, a PE ratio of -23.21 and a beta of 0.78. 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 1.02, a current ratio of 0.86 and a quick ratio of 0.83.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $82.50 million during the quarter, compared to the consensus estimate of $75.76 million. Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.30%. On average, research analysts forecast that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were issued a $0.32 dividend. This is a boost from Midland States Bancorp's previous quarterly dividend of $0.31. The ex-dividend date was Friday, August 15th. This represents a $1.28 dividend on an annualized basis and a yield of 7.2%. Midland States Bancorp's dividend payout ratio (DPR) is -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.

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