Quest Partners LLC Purchases New Shares in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Quest Partners LLC acquired a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) during the third quarter, HoldingsChannel reports. The fund acquired 6,617 shares of the financial services provider’s stock, valued at approximately $148,000.

Several other institutional investors have also added to or reduced their stakes in the stock. American Century Companies Inc. increased its position in shares of Midland States Bancorp by 16.0% during the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after buying an additional 55,555 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Midland States Bancorp by 6.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 165,615 shares of the financial services provider’s stock worth $3,751,000 after acquiring an additional 10,354 shares during the period. Acadian Asset Management LLC raised its position in shares of 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 worth $1,691,000 after acquiring an additional 30,677 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Midland States Bancorp by 5.4% in the 3rd 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. Finally, Thrivent Financial for Lutherans boosted its position in shares of Midland States Bancorp by 4.4% during 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. 60.93% of the stock is currently owned by institutional investors.

Midland States Bancorp Stock Down 0.6 %

Shares of NASDAQ:MSBI opened at $27.03 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $24.25 and a two-hundred day simple moving average of $23.20. Midland States Bancorp, Inc. has a 12-month low of $20.54 and a 12-month high of $28.47. The stock has a market capitalization of $578.44 million, a price-to-earnings ratio of 11.70 and a beta of 0.74.

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

Midland States Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s payout ratio is 53.68%.

Wall Street Analyst Weigh In

Several equities analysts have commented on MSBI shares. StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Piper Sandler lifted their price target on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th.

Insider Activity at Midland States Bancorp

In related 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 value of $312,703.56. Following the completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.60% of the stock is owned by insiders.

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.