AlphaQuest LLC Increases Stock Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

AlphaQuest LLC lifted its position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 97.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,062 shares of the financial services provider’s stock after buying an additional 6,445 shares during the period. AlphaQuest LLC’s holdings in Midland States Bancorp were worth $319,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MSBI. Point72 DIFC Ltd acquired a new stake in Midland States Bancorp during the third quarter worth about $31,000. R Squared Ltd purchased a new stake in shares of Midland States Bancorp during the 4th quarter worth about $39,000. Point72 Asset Management L.P. acquired a new stake in Midland States Bancorp during the 3rd quarter worth approximately $45,000. Quantbot Technologies LP raised its holdings in Midland States Bancorp by 25.8% in the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after buying an additional 507 shares during the period. Finally, US Bancorp DE lifted 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 valued at $85,000 after buying an additional 2,229 shares in the last quarter. 60.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MSBI shares. Piper Sandler cut their target price on shares of Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. StockNews.com downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 24th. DA Davidson reduced 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, Keefe, Bruyette & Woods lowered their target price on 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. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.50.

Midland States Bancorp Stock Performance

NASDAQ:MSBI opened at $18.45 on Friday. The firm has a 50-day moving average of $20.58 and a two-hundred day moving average of $23.02. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $394.85 million, a P/E ratio of -17.57 and a beta of 0.71. Midland States Bancorp, Inc. has a 1-year low of $18.05 and a 1-year high of $28.08.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) 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%. On average, research analysts expect 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 declared a quarterly dividend, which was paid on Friday, February 21st. Investors 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 6.72%. Midland States Bancorp’s dividend payout ratio (DPR) 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.