Y Intercept Hong Kong Ltd Acquires 23,768 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Key Points

• Y Intercept Hong Kong Ltd increased its holdings in Midland States Bancorp by 163.0%, owning 38,346 shares worth approximately $656,000, highlighting significant institutional investment activity in the company.
• Midland States Bancorp reported a quarterly earnings miss, with earnings per share of $0.44 compared to analysts' expectations of $0.63, despite revenues exceeding estimates at $82.50 million.
• The firm announced a quarterly dividend of $0.31 per share, yielding 6.90%, although it has a negative payout ratio of -122.77%.

Y Intercept Hong Kong Ltd lifted its holdings in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 163.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,346 shares of the financial services provider's stock after purchasing an additional 23,768 shares during the period. Y Intercept Hong Kong Ltd owned 0.18% of Midland States Bancorp worth $656,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MSBI. Teacher Retirement System of Texas acquired a new position in Midland States Bancorp during the 4th quarter worth approximately $260,000. American Century Companies Inc. raised its stake in shares of Midland States Bancorp by 7.2% in the fourth quarter. American Century Companies Inc. now owns 475,642 shares of the financial services provider's stock worth $11,606,000 after purchasing an additional 31,859 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Midland States Bancorp in the fourth quarter worth approximately $437,000. Prudential Financial Inc. raised its stake in shares of Midland States Bancorp by 43.1% in the fourth quarter. Prudential Financial Inc. now owns 142,029 shares of the financial services provider's stock worth $3,466,000 after purchasing an additional 42,800 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Midland States Bancorp by 33.8% in the fourth quarter. JPMorgan Chase & Co. now owns 147,560 shares of the financial services provider's stock worth $3,600,000 after purchasing an additional 37,254 shares during the last quarter. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Stock Performance

NASDAQ MSBI traded down $0.35 on Wednesday, hitting $17.31. 83,348 shares of the stock traded hands, compared to its average volume of 107,538. The business's fifty day moving average is $17.55 and its two-hundred day moving average is $18.23. Midland States Bancorp, Inc. has a 12 month low of $14.79 and a 12 month high of $28.08. The firm has a market capitalization of $372.34 million, a price-to-earnings ratio of -22.48 and a beta of 0.74. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.81 and a current ratio of 0.86.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.19). Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.11%. The firm had revenue of $82.50 million for the quarter, compared to the consensus estimate of $75.76 million. As a group, equities analysts anticipate that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 16th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, May 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.16%. Midland States Bancorp's payout ratio is -161.04%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Piper Sandler reissued a "neutral" rating and issued a $21.00 price objective (up from $18.00) on shares of Midland States Bancorp in a research note on Friday, July 11th. Keefe, Bruyette & Woods lowered their price objective on Midland States Bancorp from $21.00 to $20.00 and set a "market perform" rating for the company in a research note on Friday, May 2nd. Finally, Wall Street Zen downgraded Midland States Bancorp from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th.

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.