Strs Ohio Takes Position in Midland States Bancorp, Inc. $MSBI

Key Points

• Strs Ohio acquired a new position in Midland States Bancorp, purchasing 28,400 shares valued at approximately $486,000 during the first quarter of the year.
• Institutional investors have significantly increased their stakes in Midland States Bancorp, with GAMMA Investing LLC raising its position by 2,114.8% during the same period.
• Midland States Bancorp recently announced an increase in its quarterly dividend to $0.32 per share, resulting in an annualized dividend yield of 7.1%.

Strs Ohio bought a new stake in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 28,400 shares of the financial services provider's stock, valued at approximately $486,000. Strs Ohio owned approximately 0.13% of Midland States Bancorp as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MSBI. AQR Capital Management LLC grew its holdings in Midland States Bancorp by 100.7% during the first quarter. AQR Capital Management LLC now owns 391,822 shares of the financial services provider's stock valued at $6,708,000 after purchasing an additional 196,555 shares during the period. Nuveen LLC purchased a new stake in Midland States Bancorp during the first quarter valued at about $2,886,000. Segall Bryant & Hamill LLC bought a new position in shares of Midland States Bancorp during the first quarter valued at about $1,644,000. Nuveen Asset Management LLC grew its stake in shares of Midland States Bancorp by 72.7% during the fourth quarter. Nuveen Asset Management LLC now owns 167,103 shares of the financial services provider's stock valued at $4,077,000 after buying an additional 70,320 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Midland States Bancorp during the fourth quarter valued at about $1,315,000. 60.93% of the stock is owned by institutional investors.

Midland States Bancorp Stock Up 0.2%

NASDAQ MSBI traded up $0.03 during mid-day trading on Monday, reaching $18.00. The stock had a trading volume of 133,473 shares, compared to its average volume of 124,480. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.86 and a quick ratio of 0.85. The company has a fifty day moving average price of $17.93 and a 200 day moving average price of $17.49. Midland States Bancorp, Inc. has a 1 year low of $14.79 and a 1 year high of $28.08.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.63 by ($0.19). The company had revenue of $82.50 million for the quarter, compared to analysts' expectations of $75.76 million. Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.30%. Analysts anticipate that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend was Friday, August 15th. This is a positive change from Midland States Bancorp's previous quarterly dividend of $0.31. Midland States Bancorp's payout ratio is presently -166.23%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stephens raised Midland States Bancorp to a "hold" rating in a research note on Thursday, September 11th. Piper Sandler reiterated a "neutral" rating and set a $21.00 target price (up from $18.00) on shares of Midland States Bancorp in a report on Friday, July 11th. Finally, Wall Street Zen upgraded shares of Midland States Bancorp from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $20.75.

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.