Jacobs Levy Equity Management Inc. Grows Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Jacobs Levy Equity Management Inc. raised its stake in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 31.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 89,187 shares of the financial services provider’s stock after acquiring an additional 21,416 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.42% of Midland States Bancorp worth $1,996,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quantbot Technologies LP raised its stake in Midland States Bancorp by 25.8% in 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 during the last quarter. US Bancorp DE boosted its position in Midland States Bancorp by 141.6% during the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 2,229 shares during the last quarter. Quest Partners LLC purchased a new stake in Midland States Bancorp in the 3rd quarter worth approximately $148,000. Comerica Bank raised its holdings in Midland States Bancorp by 950.4% in the 1st quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock valued at $188,000 after acquiring an additional 6,757 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Midland States Bancorp during the 3rd quarter worth $216,000. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. StockNews.com downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Piper Sandler boosted their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th.

Midland States Bancorp Stock Performance

Shares of NASDAQ:MSBI opened at $26.94 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. Midland States Bancorp, Inc. has a 12 month low of $20.54 and a 12 month high of $28.47. The business has a 50-day moving average of $24.89 and a two-hundred day moving average of $23.37. The firm has a market capitalization of $576.52 million, a PE ratio of 11.66 and a beta of 0.75.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. The company had revenue of $124.17 million for the quarter, compared to analysts’ expectations of $72.90 million. During the same quarter in the previous year, the business posted $0.78 EPS. As a group, research analysts forecast that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.24 annualized dividend and a yield of 4.60%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the transaction, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 5.60% of the company’s stock.

About Midland States Bancorp

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.