Bank of America Corp DE Sells 17,662 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Bank of America Corp DE lessened its position in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 9.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 167,856 shares of the financial services provider's stock after selling 17,662 shares during the quarter. Bank of America Corp DE owned approximately 0.78% of Midland States Bancorp worth $4,096,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC raised its position in Midland States Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 518,209 shares of the financial services provider's stock valued at $12,648,000 after buying an additional 6,273 shares during the last quarter. American Century Companies Inc. raised its position in Midland States Bancorp by 7.2% in the 4th quarter. American Century Companies Inc. now owns 475,642 shares of the financial services provider's stock valued at $11,606,000 after buying an additional 31,859 shares during the last quarter. Bank of New York Mellon Corp raised its position in Midland States Bancorp by 36.9% in the 4th quarter. Bank of New York Mellon Corp now owns 209,244 shares of the financial services provider's stock valued at $5,106,000 after buying an additional 56,441 shares during the last quarter. Northern Trust Corp grew its stake in Midland States Bancorp by 12.2% in the fourth quarter. Northern Trust Corp now owns 200,156 shares of the financial services provider's stock valued at $4,884,000 after purchasing an additional 21,688 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Midland States Bancorp by 108.0% in the fourth quarter. AQR Capital Management LLC now owns 195,267 shares of the financial services provider's stock valued at $4,765,000 after purchasing an additional 101,397 shares in the last quarter. Institutional investors and hedge funds own 60.93% of the company's stock.

Midland States Bancorp Stock Up 3.0%

MSBI stock traded up $0.49 during mid-day trading on Tuesday, reaching $17.03. The company had a trading volume of 115,545 shares, compared to its average volume of 106,501. 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 stock has a 50 day simple moving average of $16.87 and a two-hundred day simple moving average of $20.42. The company has a market capitalization of $364.46 million, a price-to-earnings ratio of -16.22 and a beta of 0.72.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $0.57 EPS for the quarter, topping 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 company had revenue of $76.16 million during the quarter, compared to the consensus estimate of $72.93 million. As a group, equities analysts predict that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 16th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, May 16th. This represents a $1.24 annualized dividend and a dividend yield of 7.28%. Midland States Bancorp's dividend payout ratio is currently -122.77%.

Analysts Set New Price Targets

A number of research firms have weighed in on MSBI. Wall Street Zen downgraded Midland States Bancorp from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. Keefe, Bruyette & Woods decreased their price target on Midland States Bancorp from $21.00 to $20.00 and set a "market perform" rating for the company in a research note on Friday, May 2nd.

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.