Voya Investment Management LLC Buys Shares of 20,096 Midland States Bancorp, Inc. $MSBI

Key Points

• Voya Investment Management LLC acquired 20,096 shares of Midland States Bancorp, Inc. in Q1, valued at approximately $344,000, increasing its ownership to about 0.09% of the company.
• Midland States Bancorp increased its quarterly dividend to $0.32, representing an annualized yield of 7.3%, which is an increase from the previous quarterly dividend of $0.31.
• Analysts have rated Midland States Bancorp with a consensus "Hold" rating and a target price of $20.75, with recent earnings showing a significant EPS miss.

Voya Investment Management LLC acquired a new position in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,096 shares of the financial services provider's stock, valued at approximately $344,000. Voya Investment Management LLC owned approximately 0.09% of Midland States Bancorp at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MSBI. Amundi boosted its position in shares of Midland States Bancorp by 39.4% during the first quarter. Amundi now owns 2,194 shares of the financial services provider's stock worth $38,000 after acquiring an additional 620 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of Midland States Bancorp by 162.5% during the first quarter. Quantbot Technologies LP now owns 5,585 shares of the financial services provider's stock worth $96,000 after acquiring an additional 3,457 shares during the last quarter. CWM LLC boosted its position in shares of 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 during the last quarter. GAMMA Investing LLC boosted its position in shares of 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 during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Midland States Bancorp by 129.5% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,533 shares of the financial services provider's stock worth $215,000 after acquiring an additional 7,072 shares during the last quarter. Institutional investors own 60.93% of the company's stock.

Midland States Bancorp Trading Up 0.6%

MSBI stock opened at $17.55 on Monday. The company has a market capitalization of $378.03 million, a PE ratio of -22.79 and a beta of 0.78. Midland States Bancorp, Inc. has a 12 month low of $14.79 and a 12 month high of $28.08. The firm's 50-day moving average is $17.86 and its 200 day moving average is $17.47. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.86 and a quick ratio of 0.85.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last posted its earnings results 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 business 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%. On average, research analysts anticipate that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.3%. 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 presently -166.23%.

Analyst Ratings Changes

A number of brokerages recently weighed in on MSBI. Piper Sandler restated a "neutral" rating and set a $21.00 target price (up previously from $18.00) on shares of Midland States Bancorp in a research report on Friday, July 11th. Stephens upgraded shares of Midland States Bancorp to a "hold" rating in a research report on Thursday, September 11th. Finally, Wall Street Zen upgraded shares of Midland States Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Midland States Bancorp presently has a consensus rating of "Hold" and a consensus 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.

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