Connor Clark & Lunn Investment Management Ltd. Invests $641,000 in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 26,284 shares of the financial services provider’s stock, valued at approximately $641,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.12% of Midland States Bancorp as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Quantbot Technologies LP boosted 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 purchasing an additional 507 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Midland States Bancorp in the third quarter worth approximately $31,000. R Squared Ltd purchased a new stake in shares of Midland States Bancorp during the fourth quarter valued at approximately $39,000. Point72 Asset Management L.P. purchased a new stake in Midland States Bancorp in the third quarter worth $45,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Midland States Bancorp by 14.8% in the fourth quarter. SG Americas Securities LLC now owns 16,317 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 2,103 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.

Midland States Bancorp Price Performance

NASDAQ:MSBI opened at $17.82 on Friday. 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 business’s 50-day simple moving average is $20.06 and its two-hundred day simple moving average is $22.86. The stock has a market cap of $381.37 million, a PE ratio of -16.97 and a beta of 0.71. Midland States Bancorp, Inc. has a 52 week low of $17.54 and a 52 week high of $28.08.

Midland States Bancorp (NASDAQ:MSBI) last posted 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%. As a group, analysts forecast that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently commented on MSBI. Piper Sandler reduced their target price on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. 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. DA Davidson lowered their target price on Midland States Bancorp from $27.00 to $21.00 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 report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Midland States Bancorp currently has an average rating of “Hold” and a consensus price target of $23.50.

Midland States Bancorp 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.