Bank of America Corp DE Lowers Stock Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Bank of America Corp DE trimmed its holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,856 shares of the financial services provider's stock after selling 17,662 shares during the period. Bank of America Corp DE owned 0.78% of Midland States Bancorp worth $4,096,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MSBI. R Squared Ltd acquired a new stake in shares of Midland States Bancorp in the fourth quarter valued at about $39,000. Aquatic Capital Management LLC raised its position 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 valued at $83,000 after buying an additional 1,987 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Midland States Bancorp in the fourth quarter valued at about $201,000. Ieq Capital LLC purchased a new stake in shares of Midland States Bancorp in the fourth quarter valued at about $210,000. Finally, State of Tennessee Department of Treasury purchased a new stake in shares of Midland States Bancorp in the fourth quarter valued at about $243,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MSBI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods dropped their price objective on shares of Midland States Bancorp from $21.00 to $20.00 and set a "market perform" rating for the company in a report on Friday, May 2nd. Wall Street Zen lowered shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th.

Midland States Bancorp Trading Up 0.1%

Shares of MSBI traded up $0.02 during mid-day trading on Friday, reaching $16.85. The stock had a trading volume of 523,210 shares, compared to its average volume of 106,159. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. Midland States Bancorp, Inc. has a 52-week low of $14.79 and a 52-week high of $28.08. The business's fifty day moving average is $16.91 and its 200 day moving average is $20.56. The firm has a market cap of $360.61 million, a price-to-earnings ratio of -16.05 and a beta of 0.72.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.05. Midland States Bancorp had a negative return on equity of 1.95% and a negative net margin of 2.74%. The firm had revenue of $76.16 million for the quarter, compared to the consensus estimate of $72.93 million. On average, sell-side analysts predict that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 16th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 7.36%. The ex-dividend date of this dividend was Friday, May 16th. Midland States Bancorp's payout ratio is -122.77%.

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.