Midland States Bancorp, Inc. (NASDAQ:MSBI) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. grew its stake in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 43.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,029 shares of the financial services provider’s stock after purchasing an additional 42,800 shares during the period. Prudential Financial Inc. owned approximately 0.66% of Midland States Bancorp worth $3,466,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MSBI. Point72 DIFC Ltd purchased a new position in Midland States Bancorp during the 3rd quarter worth $31,000. R Squared Ltd acquired a new position in shares of Midland States Bancorp during the fourth quarter worth about $39,000. Point72 Asset Management L.P. purchased a new position in Midland States Bancorp during the third quarter worth about $45,000. Quantbot Technologies LP lifted its position 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 purchasing an additional 507 shares during the period. Finally, Ieq Capital LLC acquired a new stake in Midland States Bancorp in the fourth quarter valued at about $210,000. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. DA Davidson reduced their price target on Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating for the company in a report 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. Piper Sandler lowered their price target 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. Finally, Keefe, Bruyette & Woods reduced 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 note on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $23.50.

Midland States Bancorp Price Performance

Shares of NASDAQ:MSBI opened at $17.20 on Wednesday. Midland States Bancorp, Inc. has a one year low of $16.85 and a one year high of $28.08. The stock has a market cap of $368.10 million, a PE ratio of -16.38 and a beta of 0.71. The business’s fifty day moving average price is $19.12 and its two-hundred day moving average price is $22.64. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share 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%. On average, analysts forecast that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.21%. The ex-dividend date was Friday, February 14th. Midland States Bancorp’s dividend payout ratio is presently -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.