Los Angeles Capital Management LLC Decreases Holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Los Angeles Capital Management LLC cut its holdings in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 11.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,375 shares of the financial services provider’s stock after selling 1,900 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.07% of Midland States Bancorp worth $322,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new stake in Midland States Bancorp in the 1st quarter worth about $42,000. US Bancorp DE increased its holdings in Midland States Bancorp by 141.6% in the 3rd quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 2,229 shares during the last quarter. Comerica Bank increased its holdings in Midland States Bancorp by 950.4% in the 1st quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 6,757 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Midland States Bancorp in the 2nd quarter worth about $218,000. Finally, Squarepoint Ops LLC purchased a new stake in Midland States Bancorp in the 2nd quarter worth about $248,000. 60.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MSBI has been the subject of several recent research reports. Piper Sandler lifted their price objective on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. StockNews.com upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods cut their target price on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Monday, July 29th.

Midland States Bancorp Stock Up 0.0 %

Shares of NASDAQ MSBI opened at $26.71 on Monday. Midland States Bancorp, Inc. has a 52 week low of $20.54 and a 52 week high of $28.47. The business has a 50-day simple moving average of $23.53 and a two-hundred day simple moving average of $23.02. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. The company has a market cap of $571.62 million, a P/E ratio of 11.56 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $124.17 million during the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. During the same quarter last year, the company posted $0.78 EPS. Research analysts anticipate that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.64%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Insider Activity

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the sale, the chief executive officer now owns 343,935 shares in the company, valued at approximately $8,433,286.20. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.60% of the company’s stock.

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.