LPL Financial LLC Sells 30,777 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

LPL Financial LLC trimmed its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 29.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 73,275 shares of the financial services provider's stock after selling 30,777 shares during the period. LPL Financial LLC owned 0.34% of Midland States Bancorp worth $1,788,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. acquired a new position in Midland States Bancorp during the fourth quarter worth $2,606,000. Dana Investment Advisors Inc. acquired a new position in shares of Midland States Bancorp during the 4th quarter valued at about $1,382,000. Bank of New York Mellon Corp lifted its holdings in Midland States Bancorp by 36.9% in the 4th quarter. Bank of New York Mellon Corp now owns 209,244 shares of the financial services provider's stock worth $5,106,000 after purchasing an additional 56,441 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Midland States Bancorp by 52.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider's stock worth $2,469,000 after purchasing an additional 37,889 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Midland States Bancorp by 7.2% during 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 period. 60.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MSBI. Keefe, Bruyette & Woods reduced their price objective on shares of Midland States Bancorp from $28.00 to $23.00 and set a "market perform" rating for the company in a research note on Monday, January 27th. Piper Sandler cut their target price on shares of Midland States Bancorp from $28.50 to $23.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. DA Davidson decreased their price target on shares of Midland States Bancorp from $27.00 to $21.00 and set a "neutral" rating for the company in a report on Tuesday, January 28th. Finally, StockNews.com lowered 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, Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $23.50.

Midland States Bancorp Stock Performance

NASDAQ:MSBI traded up $0.57 during trading hours on Tuesday, hitting $16.54. 104,996 shares of the company traded hands, compared to its average volume of 99,564. Midland States Bancorp, Inc. has a twelve month low of $14.79 and a twelve month high of $28.08. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $353.97 million, a price-to-earnings ratio of -15.75 and a beta of 0.58. The firm has a 50-day moving average of $17.65 and a 200 day moving average of $21.89.

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

Midland States Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 7.50%. The ex-dividend date was Friday, February 14th. Midland States Bancorp's payout ratio is -118.10%.

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.