Millennium Management LLC Decreases Stake in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Millennium Management LLC cut its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 46.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,250 shares of the financial services provider's stock after selling 103,331 shares during the quarter. Millennium Management LLC owned about 0.55% of Midland States Bancorp worth $2,885,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in MSBI. R Squared Ltd purchased a new position in shares of Midland States Bancorp in the fourth quarter worth about $39,000. Aquatic Capital Management LLC increased its holdings in Midland States Bancorp by 141.9% in the 4th quarter. Aquatic Capital Management LLC now owns 3,387 shares of the financial services provider's stock worth $83,000 after buying an additional 1,987 shares during the period. Price T Rowe Associates Inc. MD purchased a new position in Midland States Bancorp during the 4th quarter worth approximately $201,000. Ieq Capital LLC acquired a new stake in Midland States Bancorp during the 4th quarter valued at approximately $210,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Midland States Bancorp in the 4th quarter valued at $223,000. 60.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MSBI has been the subject of a number of research reports. Wall Street Zen downgraded shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods reduced their price objective 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.

Midland States Bancorp Price Performance

NASDAQ:MSBI traded down $0.48 during trading hours on Wednesday, reaching $16.55. 63,371 shares of the company were exchanged, compared to its average volume of 106,546. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The firm has a market cap of $354.19 million, a PE ratio of -15.76 and a beta of 0.72. Midland States Bancorp, Inc. has a twelve month low of $14.79 and a twelve month high of $28.08. The stock's 50-day moving average is $16.86 and its 200-day moving average is $20.39.

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

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 16th were issued a dividend of $0.31 per share. The ex-dividend date was Friday, May 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.49%. Midland States Bancorp's payout ratio is currently -122.77%.

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.