Midland States Bancorp (NASDAQ:MSBI) Stock Crosses Below 50 Day Moving Average - Here's Why

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report)'s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $16.95 and traded as low as $16.13. Midland States Bancorp shares last traded at $16.29, with a volume of 161,401 shares.

Analyst Ratings Changes

A number of equities analysts recently commented on MSBI shares. Keefe, Bruyette & Woods decreased their target price on Midland States Bancorp from $21.00 to $20.00 and set a "market perform" rating on the stock in a report on Friday, May 2nd. Wall Street Zen cut Midland States Bancorp from a "buy" rating to a "hold" rating in a report on Tuesday, May 20th.

Midland States Bancorp Trading Up 2.9%

The stock has a market cap of $359.73 million, a PE ratio of -16.64 and a beta of 0.75. The stock has a 50-day moving average price of $17.01 and a two-hundred day moving average price of $19.38. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.05. The firm had revenue of $76.16 million during the quarter, compared to analyst estimates of $72.93 million. Midland States Bancorp had a negative return on equity of 1.81% and a negative net margin of 2.59%. Sell-side analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 16th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.38%. Midland States Bancorp's payout ratio is -122.77%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MSBI. Ieq Capital LLC purchased a new position in Midland States Bancorp in the fourth quarter worth about $210,000. Y Intercept Hong Kong Ltd purchased a new position in Midland States Bancorp in the fourth quarter worth about $356,000. Bank of New York Mellon Corp grew its position in Midland States Bancorp by 36.9% in the fourth quarter. Bank of New York Mellon Corp now owns 209,244 shares of the financial services provider's stock worth $5,106,000 after acquiring an additional 56,441 shares in the last quarter. Dana Investment Advisors Inc. purchased a new position in Midland States Bancorp in the fourth quarter worth about $1,382,000. Finally, Callan Family Office LLC purchased a new position in Midland States Bancorp in the fourth quarter worth about $280,000. Hedge funds and other institutional investors own 60.93% of the company's stock.

Midland States Bancorp Company 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.