Hillsdale Investment Management Inc. Makes New Investment in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Hillsdale Investment Management Inc. acquired a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 106,813 shares of the financial services provider’s stock, valued at approximately $2,606,000. Hillsdale Investment Management Inc. owned about 0.50% of Midland States Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. State Street Corp raised its holdings in Midland States Bancorp by 2.5% in the 3rd quarter. State Street Corp now owns 587,947 shares of the financial services provider’s stock valued at $13,158,000 after acquiring an additional 14,157 shares in the last quarter. Geode Capital Management LLC boosted its stake in Midland States Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock worth $11,460,000 after buying an additional 2,294 shares in the last quarter. American Century Companies Inc. increased its holdings in Midland States Bancorp by 7.2% in the 4th quarter. American Century Companies Inc. now owns 475,642 shares of the financial services provider’s stock valued at $11,606,000 after buying an additional 31,859 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Midland States Bancorp in the 3rd quarter valued at $5,764,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Midland States Bancorp by 36.9% during the 4th quarter. Bank of New York Mellon Corp now owns 209,244 shares of the financial services provider’s stock worth $5,106,000 after acquiring an additional 56,441 shares during the period. Institutional investors own 60.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. DA Davidson dropped their price target on shares of 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 dropped their target price on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, January 28th. StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Finally, Keefe, Bruyette & Woods lowered their price target on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th. Five 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 target price of $23.50.

Midland States Bancorp Stock Performance

NASDAQ:MSBI opened at $17.82 on Friday. The stock has a market capitalization of $381.37 million, a P/E ratio of -16.97 and a beta of 0.71. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. Midland States Bancorp, Inc. has a 1 year low of $17.54 and a 1 year high of $28.08. The firm has a 50 day moving average of $20.06 and a 200-day moving average of $22.86.

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%. As a group, sell-side analysts anticipate that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Announces Dividend

The business also recently disclosed 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. This represents a $1.24 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date of this dividend was Friday, February 14th. Midland States Bancorp’s dividend payout ratio is currently -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.