Northern Trust Corp Boosts Stock Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Northern Trust Corp increased its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 200,156 shares of the financial services provider's stock after purchasing an additional 21,688 shares during the quarter. Northern Trust Corp owned approximately 0.94% of Midland States Bancorp worth $4,884,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Midland States Bancorp by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 518,209 shares of the financial services provider's stock worth $12,648,000 after purchasing an additional 6,273 shares in the last quarter. American Century Companies Inc. increased its position in Midland States Bancorp by 7.2% during the 4th quarter. American Century Companies Inc. now owns 475,642 shares of the financial services provider's stock worth $11,606,000 after purchasing an additional 31,859 shares in the last quarter. Bank of New York Mellon Corp increased its position in Midland States Bancorp by 36.9% during the 4th 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in Midland States Bancorp by 33.8% in the 4th quarter. JPMorgan Chase & Co. now owns 147,560 shares of the financial services provider's stock worth $3,600,000 after buying an additional 37,254 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in Midland States Bancorp by 43.1% in the 4th quarter. Prudential Financial Inc. now owns 142,029 shares of the financial services provider's stock worth $3,466,000 after buying an additional 42,800 shares during the last quarter. Hedge funds and other institutional investors own 60.93% of the company's stock.

Wall Street Analysts Forecast Growth

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

Midland States Bancorp Trading Up 0.6%

Shares of NASDAQ MSBI traded up $0.10 during midday trading on Friday, hitting $16.97. The stock had a trading volume of 99,883 shares, compared to its average volume of 103,129. The company has a market capitalization of $363.17 million, a price-to-earnings ratio of -16.16 and a beta of 0.72. Midland States Bancorp, Inc. has a 1-year low of $14.79 and a 1-year high of $28.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. The company has a fifty day moving average price of $17.02 and a 200 day moving average price of $20.91.

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 the consensus estimate of $0.52 by $0.05. The business had revenue of $76.16 million for 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%. On average, analysts predict that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The company 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 7.31%. The ex-dividend date of this dividend was Friday, May 16th. Midland States Bancorp's dividend payout ratio is currently -122.77%.

Midland States Bancorp 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.