Northern Trust Corp Purchases 21,688 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Northern Trust Corp raised its holdings in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 200,156 shares of the financial services provider's stock after buying an additional 21,688 shares during the period. Northern Trust Corp owned about 0.94% of Midland States Bancorp worth $4,884,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings 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 worth $12,648,000 after acquiring an additional 6,273 shares during the period. American Century Companies Inc. increased its stake in Midland States Bancorp by 7.2% in the fourth quarter. American Century Companies Inc. now owns 475,642 shares of the financial services provider's stock valued at $11,606,000 after purchasing an additional 31,859 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Midland States Bancorp by 36.9% during the fourth quarter. Bank of New York Mellon Corp now owns 209,244 shares of the financial services provider's stock worth $5,106,000 after purchasing an additional 56,441 shares during the last quarter. JPMorgan Chase & Co. increased its position in Midland States Bancorp by 33.8% during the fourth quarter. JPMorgan Chase & Co. now owns 147,560 shares of the financial services provider's stock worth $3,600,000 after acquiring an additional 37,254 shares during the period. Finally, Prudential Financial Inc. increased its position in Midland States Bancorp by 43.1% during the fourth quarter. Prudential Financial Inc. now owns 142,029 shares of the financial services provider's stock worth $3,466,000 after acquiring an additional 42,800 shares during the period. Institutional investors and hedge funds own 60.93% of the company's stock.

Midland States Bancorp Price Performance

Shares of NASDAQ MSBI traded down $0.03 during midday trading on Tuesday, hitting $16.94. 152,753 shares of the company's stock were exchanged, compared to its average volume of 103,537. 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 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The company has a market cap of $362.53 million, a price-to-earnings ratio of -16.13 and a beta of 0.72. The business's fifty day moving average price is $16.97 and its two-hundred day moving average price is $20.78.

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

Midland States Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 16th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 7.32%. The ex-dividend date of this dividend was Friday, May 16th. Midland States Bancorp's dividend payout ratio is presently -122.77%.

Wall Street Analyst Weigh In

MSBI has been the topic of a number of research analyst reports. DA Davidson reduced their price target on shares of Midland States Bancorp from $27.00 to $21.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 28th. Piper Sandler lowered their price objective on shares of Midland States Bancorp from $28.50 to $23.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods cut their price target on shares of Midland States Bancorp from $21.00 to $20.00 and set a "market perform" rating on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen downgraded shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th.

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.