106,813 Shares in Midland States Bancorp, Inc. (NASDAQ:MSBI) Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. bought a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 106,813 shares of the financial services provider’s stock, valued at approximately $2,606,000.

Several other hedge funds also recently modified their holdings of the business. Quantbot Technologies LP raised its position in shares of Midland States Bancorp by 25.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 507 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Midland States Bancorp during the third quarter worth $31,000. R Squared Ltd bought a new stake in Midland States Bancorp in the fourth quarter valued at about $39,000. Point72 Asset Management L.P. acquired a new position in Midland States Bancorp in the third quarter valued at about $45,000. Finally, SG Americas Securities LLC grew its position in shares of Midland States Bancorp by 14.8% during the 4th quarter. SG Americas Securities LLC now owns 16,317 shares of the financial services provider’s stock worth $398,000 after buying an additional 2,103 shares during the period. Institutional investors own 60.93% of the company’s stock.

Analyst Ratings Changes

MSBI has been the topic of a number of analyst reports. StockNews.com downgraded shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods decreased their price target on shares of Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating for the company in a report on Monday, January 27th. DA Davidson dropped their price objective on Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Finally, Piper Sandler decreased their target price on 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. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.50.

Midland States Bancorp Stock Down 1.2 %

Shares of MSBI stock opened at $17.82 on Friday. Midland States Bancorp, Inc. has a 12-month low of $17.54 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 firm has a fifty day moving average of $20.06 and a 200-day moving average of $22.86. The company has a market capitalization of $381.37 million, a price-to-earnings ratio of -16.97 and a beta of 0.71.

Midland States Bancorp (NASDAQ:MSBI) last released 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 return on equity of 1.95% and a negative net margin of 2.74%. As a group, equities research analysts predict that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 6.96%. The ex-dividend date was Friday, February 14th. Midland States Bancorp’s payout ratio is -118.10%.

Midland States Bancorp Company 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.