Nuveen Asset Management LLC Buys 70,320 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Nuveen Asset Management LLC increased its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 72.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 167,103 shares of the financial services provider's stock after buying an additional 70,320 shares during the period. Nuveen Asset Management LLC owned 0.78% of Midland States Bancorp worth $4,077,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hillsdale Investment Management Inc. bought a new stake in Midland States Bancorp in the 4th quarter valued at about $2,606,000. AQR Capital Management LLC boosted its holdings in Midland States Bancorp by 108.0% in the 4th 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 during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Midland States Bancorp by 392.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 86,621 shares of the financial services provider's stock valued at $2,114,000 after purchasing an additional 69,038 shares during the period. Dana Investment Advisors Inc. bought a new stake in Midland States Bancorp in the 4th quarter valued at about $1,382,000. Finally, Bank of New York Mellon Corp raised its position in shares of 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 in the last quarter. Institutional investors own 60.93% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MSBI. Wall Street Zen cut shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods lowered 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 research report on Friday, May 2nd.

Midland States Bancorp Trading Down 2.8%

Shares of MSBI stock traded down $0.48 during mid-day trading on Wednesday, reaching $16.55. 63,371 shares of the stock traded hands, compared to its average volume of 106,546. The stock's fifty day simple moving average is $16.86 and its two-hundred day simple moving average is $20.39. Midland States Bancorp, Inc. has a 1-year low of $14.79 and a 1-year high of $28.08. The company has a market cap of $354.19 million, a price-to-earnings ratio of -15.76 and a beta of 0.72. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its quarterly earnings results 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 net margin of 2.74% and a negative return on equity of 1.95%. The firm had revenue of $76.16 million during the quarter, compared to analysts' expectations of $72.93 million. On average, research analysts anticipate that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 16th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 7.49%. 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.