Vanguard Group Inc. Purchases 29,439 Shares of Midland States Bancorp, Inc. $MSBI

Key Points

• Vanguard Group Inc. increased its stake in Midland States Bancorp by 2.5%, owning over 1.2 million shares valued at approximately $20.7 million.
• Midland States Bancorp recently increased its quarterly dividend to $0.32 per share, yielding 6.9%, despite a negative dividend payout ratio.
• Several financial analysts have issued mixed ratings for Midland States Bancorp, with a consensus rating of "Hold" and an average target price of $20.67.

Vanguard Group Inc. boosted its position in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,209,953 shares of the financial services provider's stock after acquiring an additional 29,439 shares during the quarter. Vanguard Group Inc. owned 5.65% of Midland States Bancorp worth $20,714,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC increased its stake in shares of 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 valued at $83,000 after purchasing an additional 1,987 shares during the last quarter. Point72 Asset Management L.P. grew its position in Midland States Bancorp by 136.9% in the fourth quarter. Point72 Asset Management L.P. now owns 4,730 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 2,733 shares during the last quarter. CWM LLC raised its stake in Midland States Bancorp by 162.5% during the first quarter. CWM LLC now owns 7,416 shares of the financial services provider's stock worth $127,000 after acquiring an additional 4,591 shares in the last quarter. GAMMA Investing LLC raised its stake in Midland States Bancorp by 2,114.8% during the first quarter. GAMMA Investing LLC now owns 9,125 shares of the financial services provider's stock worth $156,000 after acquiring an additional 8,713 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Midland States Bancorp in the fourth quarter worth about $201,000. 60.93% of the stock is currently owned by institutional investors.

Midland States Bancorp Trading Up 2.0%

Shares of NASDAQ MSBI traded up $0.36 during trading on Thursday, reaching $18.67. The company had a trading volume of 97,694 shares, compared to its average volume of 114,485. The stock has a market cap of $401.97 million, a P/E ratio of -24.25 and a beta of 0.78. The company's fifty day moving average price is $18.04 and its 200-day moving average price is $17.61. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 1.36. Midland States Bancorp, Inc. has a 12 month low of $14.79 and a 12 month high of $28.08.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.63 by ($0.19). The company had revenue of $82.50 million during the quarter, compared to analyst estimates of $75.76 million. Midland States Bancorp had a negative return on equity of 1.23% and a negative net margin of 1.50%. As a group, research analysts expect that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current year.

Midland States Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders 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 yield of 6.9%. This is an increase from Midland States Bancorp's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, August 15th. Midland States Bancorp's payout ratio is currently -166.23%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MSBI shares. Wall Street Zen lowered shares of Midland States Bancorp from a "hold" rating to a "sell" rating in a report on Friday, August 22nd. Piper Sandler reaffirmed a "neutral" rating and set a $21.00 target price (up previously from $18.00) on shares of Midland States Bancorp in a research note on Friday, July 11th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $20.67.

Midland States Bancorp Company 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.