Ieq Capital LLC Invests $210,000 in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Ieq Capital LLC acquired a new position in Midland States Bancorp, Inc. (NASDAQ:MSBI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,592 shares of the financial services provider’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors have also modified their holdings of MSBI. US Bancorp DE grew its position in Midland States Bancorp by 141.6% during the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after buying an additional 2,229 shares in the last quarter. Summit Global Investments acquired a new stake in shares of Midland States Bancorp during the 3rd quarter worth approximately $251,000. Empowered Funds LLC increased its position in shares of Midland States Bancorp by 5.4% during the third quarter. Empowered Funds LLC now owns 73,651 shares of the financial services provider’s stock valued at $1,648,000 after purchasing an additional 3,752 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Midland States Bancorp by 4.4% in the third quarter. Thrivent Financial for Lutherans now owns 71,667 shares of the financial services provider’s stock valued at $1,604,000 after purchasing an additional 3,027 shares in the last quarter. Finally, Quest Partners LLC bought a new position in Midland States Bancorp in the third quarter worth $148,000. Institutional investors and hedge funds own 60.93% of the company’s stock.

Midland States Bancorp Trading Up 0.7 %

Shares of Midland States Bancorp stock opened at $19.38 on Friday. The stock has a market capitalization of $414.75 million, a P/E ratio of -18.46 and a beta of 0.73. Midland States Bancorp, Inc. has a 12-month low of $18.55 and a 12-month high of $28.08. 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 50-day simple moving average of $21.73 and a 200 day simple moving average of $23.24.

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

Midland States Bancorp Announces Dividend

The firm also recently announced 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 6.40%. The ex-dividend date of this dividend was Friday, February 14th. Midland States Bancorp’s payout ratio is presently -118.10%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped 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. DA Davidson dropped 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 research report on Tuesday, January 28th. Piper Sandler cut their price target on shares of Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating for the company in a research note 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 equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus 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.