Dimensional Fund Advisors LP Sells 23,925 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Dimensional Fund Advisors LP lessened its holdings in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 1.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,370,217 shares of the financial services provider’s stock after selling 23,925 shares during the period. Dimensional Fund Advisors LP owned 0.06% of Midland States Bancorp worth $31,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MSBI. American Century Companies Inc. grew its holdings in Midland States Bancorp by 16.0% during the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock worth $9,107,000 after acquiring an additional 55,555 shares during the last quarter. Acadian Asset Management LLC boosted its position in Midland States Bancorp by 69.6% in the 2nd quarter. Acadian Asset Management LLC now owns 74,722 shares of the financial services provider’s stock valued at $1,691,000 after buying an additional 30,677 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Midland States Bancorp by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider’s stock valued at $761,000 after buying an additional 683 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Midland States Bancorp by 6.7% during the second quarter. Bank of New York Mellon Corp now owns 165,615 shares of the financial services provider’s stock valued at $3,751,000 after acquiring an additional 10,354 shares during the period. Finally, SG Americas Securities LLC bought a new position in Midland States Bancorp in the second quarter valued at about $218,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Midland States Bancorp Stock Performance

Shares of MSBI stock opened at $21.68 on Wednesday. The stock has a 50-day moving average of $22.43 and a 200-day moving average of $22.96. Midland States Bancorp, Inc. has a one year low of $19.85 and a one year high of $28.47. The stock has a market cap of $465.73 million, a PE ratio of 7.37 and a beta of 0.76. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.95 and a quick ratio of 0.95.

Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Thursday, July 25th. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.52). The firm had revenue of $120.95 million during the quarter, compared to analyst estimates of $74.90 million. Midland States Bancorp had a return on equity of 9.24% and a net margin of 12.10%. During the same quarter last year, the business posted $0.87 earnings per share. As a group, sell-side analysts expect that Midland States Bancorp, Inc. will post 1.99 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 16th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.24 annualized dividend and a dividend yield of 5.72%. Midland States Bancorp’s dividend payout ratio (DPR) is currently 42.18%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MSBI. Piper Sandler upped their target price on shares of Midland States Bancorp from $24.50 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods lowered their target price on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, July 29th.

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.