Brandywine Global Investment Management LLC Cuts Stock Holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Brandywine Global Investment Management LLC lessened its position in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,587 shares of the financial services provider’s stock after selling 2,300 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Midland States Bancorp were worth $1,234,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MSBI. Arrowstreet Capital Limited Partnership boosted its stake in Midland States Bancorp by 392.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 86,621 shares of the financial services provider’s stock worth $2,114,000 after purchasing an additional 69,038 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Midland States Bancorp by 33.8% during the fourth quarter. JPMorgan Chase & Co. now owns 147,560 shares of the financial services provider’s stock worth $3,600,000 after acquiring an additional 37,254 shares during the last quarter. Prudential Financial Inc. grew its stake in Midland States Bancorp by 43.1% during the 4th quarter. Prudential Financial Inc. now owns 142,029 shares of the financial services provider’s stock valued at $3,466,000 after acquiring an additional 42,800 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Midland States Bancorp in the 4th quarter valued at about $437,000. Finally, Hillsdale Investment Management Inc. purchased a new position in Midland States Bancorp in the 4th quarter worth approximately $2,606,000. 60.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Midland States Bancorp Price Performance

NASDAQ:MSBI opened at $17.26 on Thursday. Midland States Bancorp, Inc. has a 52 week low of $16.57 and a 52 week high of $28.08. The stock’s fifty day moving average is $18.97 and its two-hundred day moving average is $22.60. The company has a market capitalization of $369.38 million, a P/E ratio of -16.44 and a beta of 0.58. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. Equities analysts expect that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a dividend of $0.31 per share. The ex-dividend date was Friday, February 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.18%. Midland States Bancorp’s payout ratio is currently -118.10%.

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.