Jacobs Levy Equity Management Inc. Boosts Holdings 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. lifted its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 19.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 107,179 shares of the financial services provider's stock after buying an additional 17,147 shares during the quarter. 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 hedge funds and other institutional investors have also modified their holdings of the company. Amundi grew its holdings in shares of 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 grew its holdings in shares of Midland States Bancorp by 162.5% during the first quarter. Quantbot Technologies LP now owns 5,585 shares of the financial services provider's stock worth $96,000 after buying an additional 3,457 shares in the last quarter. Point72 Asset Management L.P. grew its holdings 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 worth $115,000 after buying an additional 2,733 shares in the last quarter. CWM LLC grew its holdings 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 worth $127,000 after buying an additional 4,591 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings 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 worth $156,000 after buying an additional 8,713 shares in the last quarter. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Midland States Bancorp Trading Down 1.1%

MSBI stock traded down $0.20 during midday trading on Tuesday, reaching $17.63. 140,319 shares of the company's stock traded hands, compared to its average volume of 113,490. The company has a market capitalization of $379.75 million, a P/E ratio of -22.90 and a beta of 0.78. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.86 and a quick ratio of 0.85. Midland States Bancorp, Inc. has a fifty-two week low of $14.79 and a fifty-two week high of $28.08. The business has a 50-day moving average price of $17.99 and a two-hundred day moving average price of $17.52.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $75.76 million. Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.30%. Equities research analysts forecast that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were paid a dividend of $0.32 per share. This is an increase 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 7.3%. The ex-dividend date was Friday, August 15th. Midland States Bancorp's payout ratio 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.