Hotchkis & Wiley Capital Management LLC Raises Position in Midland States Bancorp, Inc. $MSBI

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Midland States Bancorp, Inc. by 6.3%, holding 303,640 shares valued at approximately $5.2 million.
• Midland States Bancorp recently announced a quarterly dividend increase from $0.31 to $0.32 per share, yielding 7.0% annually.
• The company's earnings report showed a loss of $0.44 per share, missing consensus estimates, despite reporting revenue exceeding expectations at $82.5 million.

Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 6.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 303,640 shares of the financial services provider's stock after acquiring an additional 18,100 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 1.42% of Midland States Bancorp worth $5,198,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MSBI. Wells Fargo & Company MN increased its holdings in shares of Midland States Bancorp by 22.0% in the fourth 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 during the period. Barclays PLC increased its holdings in shares of Midland States Bancorp by 2.6% in the fourth quarter. Barclays PLC now owns 67,065 shares of the financial services provider's stock worth $1,638,000 after purchasing an additional 1,681 shares during the period. State of Tennessee Department of Treasury bought a new position in shares of Midland States Bancorp in the fourth quarter worth $243,000. Price T Rowe Associates Inc. MD bought a new position in shares of Midland States Bancorp in the fourth quarter worth $201,000. Finally, Aquatic Capital Management LLC increased its holdings in shares of Midland States Bancorp by 141.9% in the fourth quarter. Aquatic Capital Management LLC now owns 3,387 shares of the financial services provider's stock worth $83,000 after purchasing an additional 1,987 shares during the period. Institutional investors own 60.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MSBI shares. 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 report on Friday, July 11th. Wall Street Zen lowered shares of Midland States Bancorp from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $20.67.

Midland States Bancorp Stock Performance

MSBI stock traded up $0.02 on Friday, hitting $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 12-month low of $14.79 and a 12-month high of $28.08. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 1.36. The stock's 50-day simple moving average is $17.93 and its 200 day simple moving average is $17.61. The stock has a market cap of $396.58 million, a price-to-earnings ratio of -23.92 and a beta of 0.78.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its earnings results 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 company 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 1.23% and a negative net margin of 1.50%. As a group, equities research analysts expect 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 declared 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. The ex-dividend date was Friday, August 15th. This represents a $1.28 annualized dividend and a dividend yield of 6.9%. This is a boost from Midland States Bancorp's previous quarterly dividend of $0.31. Midland States Bancorp's dividend payout ratio is -166.23%.

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.