Rafferty Asset Management LLC Trims Holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Rafferty Asset Management LLC decreased its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 13.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,639 shares of the financial services provider’s stock after selling 2,393 shares during the quarter. Rafferty Asset Management LLC owned about 0.07% of Midland States Bancorp worth $382,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in Midland States Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 518,209 shares of the financial services provider’s stock worth $12,648,000 after buying an additional 6,273 shares in the last quarter. American Century Companies Inc. lifted its position in Midland States Bancorp by 7.2% during the fourth quarter. American Century Companies Inc. now owns 475,642 shares of the financial services provider’s stock worth $11,606,000 after buying an additional 31,859 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Midland States Bancorp by 36.9% during the fourth quarter. Bank of New York Mellon Corp now owns 209,244 shares of the financial services provider’s stock worth $5,106,000 after buying an additional 56,441 shares in the last quarter. Northern Trust Corp lifted its position in Midland States Bancorp by 12.2% during the fourth quarter. Northern Trust Corp now owns 200,156 shares of the financial services provider’s stock worth $4,884,000 after buying an additional 21,688 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Midland States Bancorp by 108.0% during the fourth quarter. AQR Capital Management LLC now owns 195,267 shares of the financial services provider’s stock worth $4,765,000 after buying an additional 101,397 shares in the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Price Performance

MSBI stock opened at $16.97 on Friday. The business has a fifty day moving average of $17.02 and a two-hundred day moving average of $20.96. 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 stock has a market cap of $363.17 million, a price-to-earnings ratio of -16.16 and a beta of 0.72. Midland States Bancorp, Inc. has a 52-week low of $14.79 and a 52-week high of $28.08.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Midland States Bancorp had a negative return on equity of 1.95% and a negative net margin of 2.74%. The business had revenue of $76.16 million during the quarter, compared to analysts’ expectations of $72.93 million. As a group, research analysts anticipate that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 16th were paid a $0.31 dividend. The ex-dividend date was Friday, May 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.31%. Midland States Bancorp’s payout ratio is presently -122.77%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler reduced their price objective on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. DA Davidson cut 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. Keefe, Bruyette & Woods cut their target price on Midland States Bancorp from $21.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, May 2nd. Finally, Wall Street Zen cut Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday.

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.