Midland States Bancorp, Inc. $MSBI Shares Purchased by Vanguard Group Inc.

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. increased its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,209,953 shares of the financial services provider's stock after acquiring an additional 29,439 shares during the period. Vanguard Group Inc. owned about 5.65% of Midland States Bancorp worth $20,714,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MSBI. Aquatic Capital Management LLC boosted its position in 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 worth $83,000 after purchasing an additional 1,987 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Midland States Bancorp by 136.9% in the 4th quarter. Point72 Asset Management L.P. now owns 4,730 shares of the financial services provider's stock valued at $115,000 after purchasing an additional 2,733 shares during the period. CWM LLC grew its position 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 valued at $127,000 after buying an additional 4,591 shares during the period. GAMMA Investing LLC increased its holdings in Midland States Bancorp by 2,114.8% in the first quarter. GAMMA Investing LLC now owns 9,125 shares of the financial services provider's stock valued at $156,000 after buying an additional 8,713 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired 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 hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MSBI. Wall Street Zen cut Midland States Bancorp from a "hold" rating to a "sell" rating in a research report on Friday, August 22nd. Piper Sandler reiterated a "neutral" rating and set a $21.00 price target (up previously from $18.00) on shares of Midland States Bancorp in a research report on Friday, July 11th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Midland States Bancorp currently has a consensus rating of "Hold" and an average target price of $20.67.

Midland States Bancorp Price Performance

Shares of NASDAQ MSBI traded down $0.28 during mid-day trading on Wednesday, reaching $18.19. The company's stock had a trading volume of 42,080 shares, compared to its average volume of 123,687. The stock has a 50-day moving average of $17.99 and a two-hundred day moving average of $17.61. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.83 and a current ratio of 0.88. The stock has a market capitalization of $391.63 million, a P/E ratio of -23.64 and a beta of 0.78. 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 posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.44 EPS for the quarter, missing the consensus estimate 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 return on equity of 1.23% and a negative net margin of 1.50%. On average, equities research analysts anticipate that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Friday, August 15th. This is an increase from Midland States Bancorp's previous quarterly dividend of $0.31. Midland States Bancorp's payout ratio is currently -166.23%.

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.