JPMorgan Chase & Co. Grows Stake in Midland States Bancorp, Inc. (NASDAQ:MSBI)

JPMorgan Chase & Co. increased its stake in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 33.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 147,560 shares of the financial services provider's stock after purchasing an additional 37,254 shares during the quarter. JPMorgan Chase & Co. owned about 0.69% of Midland States Bancorp worth $3,600,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. R Squared Ltd bought a new stake in shares of Midland States Bancorp during the fourth quarter valued at about $39,000. Ieq Capital LLC bought a new stake in Midland States Bancorp during the 4th quarter worth approximately $210,000. Teacher Retirement System of Texas purchased a new stake in Midland States Bancorp in the 4th quarter worth approximately $260,000. Callan Family Office LLC bought a new position in Midland States Bancorp in the 4th quarter valued at $280,000. Finally, AlphaQuest LLC grew its position in shares of Midland States Bancorp by 97.4% during the 4th quarter. AlphaQuest LLC now owns 13,062 shares of the financial services provider's stock valued at $319,000 after purchasing an additional 6,445 shares in the last quarter. 60.93% of the stock is currently owned by institutional investors.

Midland States Bancorp Trading Down 1.3 %

MSBI stock traded down $0.22 during trading on Friday, hitting $16.59. 13,061 shares of the company traded hands, compared to its average volume of 99,710. The company has a 50-day moving average of $17.54 and a 200-day moving average of $21.82. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. Midland States Bancorp, Inc. has a 1 year low of $14.79 and a 1 year high of $28.08. The firm has a market capitalization of $354.94 million, a PE ratio of -15.79 and a beta of 0.58.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a negative return on equity of 1.95% and a negative net margin of 2.74%. Analysts predict that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 7.48%. The ex-dividend date was Friday, February 14th. Midland States Bancorp's dividend payout ratio (DPR) is presently -118.10%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Piper Sandler lowered their price objective on Midland States Bancorp from $28.50 to $23.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods lowered their price target on Midland States Bancorp from $28.00 to $23.00 and set a "market perform" rating on the stock in a report on Monday, January 27th. DA Davidson decreased their price objective on shares of Midland States Bancorp from $27.00 to $21.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 28th. Finally, StockNews.com downgraded shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a research note on Friday, January 24th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $23.50.

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.