Midland States Bancorp, Inc. $MSBI Holdings Decreased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC decreased its holdings in Midland States Bancorp, Inc. by 28.1% during the 1st quarter, now owning about 0.62% of the company's shares.
• Midland States Bancorp recently increased its quarterly dividend to $0.32 per share, representing a 7.2% yield.
• Brokerages have generally given Midland States Bancorp a hold rating, with a consensus target price of $20.75.

Acadian Asset Management LLC decreased its holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 28.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 131,816 shares of the financial services provider's stock after selling 51,530 shares during the quarter. Acadian Asset Management LLC owned about 0.62% of Midland States Bancorp worth $2,256,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC increased its position in shares of Midland States Bancorp by 72.7% in the fourth quarter. Nuveen Asset Management LLC now owns 167,103 shares of the financial services provider's stock valued at $4,077,000 after buying an additional 70,320 shares in the last quarter. LPL Financial LLC increased its position in Midland States Bancorp by 60.4% during the 1st quarter. LPL Financial LLC now owns 117,505 shares of the financial services provider's stock worth $2,012,000 after purchasing an additional 44,230 shares in the last quarter. Vanguard Group Inc. increased its position in Midland States Bancorp by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 1,209,953 shares of the financial services provider's stock worth $20,714,000 after purchasing an additional 29,439 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Midland States Bancorp by 15.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,873 shares of the financial services provider's stock worth $827,000 after purchasing an additional 4,503 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Midland States Bancorp by 2,114.8% during the 1st quarter. GAMMA Investing LLC now owns 9,125 shares of the financial services provider's stock worth $156,000 after purchasing an additional 8,713 shares in the last quarter. Hedge funds and other institutional investors own 60.93% of the company's stock.

Midland States Bancorp Stock Down 2.8%

Midland States Bancorp stock traded down $0.52 during midday trading on Friday, hitting $17.97. 257,039 shares of the company were exchanged, compared to its average volume of 120,077. The company's fifty day moving average price is $17.95 and its 200-day moving average price is $17.51. The company has a market cap of $387.07 million, a PE ratio of -23.34 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.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.63 by ($0.19). Midland States Bancorp had a negative return on equity of 1.30% and a negative net margin of 1.50%.The company had revenue of $82.50 million for the quarter, compared to analyst estimates of $75.76 million. On average, research analysts predict that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 15th. This represents a $1.28 annualized dividend and a yield of 7.1%. This is a boost from Midland States Bancorp's previous quarterly dividend of $0.31. Midland States Bancorp's dividend payout ratio (DPR) is presently -166.23%.

Analysts Set New Price Targets

MSBI has been the topic of a number of research analyst reports. Wall Street Zen raised Midland States Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. Piper Sandler reissued a "neutral" rating and issued a $21.00 price target (up from $18.00) on shares of Midland States Bancorp in a research note on Friday, July 11th. Finally, Stephens raised Midland States Bancorp to a "hold" rating in a research note on Thursday, September 11th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $20.75.

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.