Bank of New York Mellon Corp Grows Stake in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Bank of New York Mellon Corp increased its holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 36.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 209,244 shares of the financial services provider’s stock after acquiring an additional 56,441 shares during the quarter. Bank of New York Mellon Corp’s holdings in Midland States Bancorp were worth $5,106,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MSBI. Jacobs Levy Equity Management Inc. raised its holdings in shares of Midland States Bancorp by 31.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock valued at $1,996,000 after acquiring an additional 21,416 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Midland States Bancorp by 51.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,370 shares of the financial services provider’s stock worth $657,000 after purchasing an additional 9,953 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Midland States Bancorp in the fourth quarter valued at approximately $356,000. JPMorgan Chase & Co. lifted its position in Midland States Bancorp by 52.3% during the third quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock valued at $2,469,000 after purchasing an additional 37,889 shares during the last quarter. Finally, Barclays PLC lifted its position in Midland States Bancorp by 55.2% during the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock valued at $1,463,000 after purchasing an additional 23,242 shares during the last quarter. Institutional investors own 60.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MSBI. StockNews.com cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Piper Sandler lowered their price target on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. DA Davidson cut their price objective on 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, Keefe, Bruyette & Woods decreased their price objective on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a report on Monday, January 27th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.50.

Midland States Bancorp Price Performance

MSBI stock opened at $18.40 on Tuesday. The firm has a market cap of $393.78 million, a P/E ratio of -17.52 and a beta of 0.71. The firm’s fifty day moving average is $20.48 and its 200 day moving average is $22.99. Midland States Bancorp, Inc. has a 52 week low of $18.05 and a 52 week high of $28.08. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data 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 predict that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were paid a $0.31 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.24 dividend on an annualized basis and a yield of 6.74%. Midland States Bancorp’s dividend payout ratio (DPR) is currently -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.