Sequoia Financial Advisors LLC Buys Shares of 31,037 Midland States Bancorp, Inc. (NASDAQ:MSBI)

Sequoia Financial Advisors LLC purchased a new position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 31,037 shares of the financial services provider’s stock, valued at approximately $757,000. Sequoia Financial Advisors LLC owned about 0.15% of Midland States Bancorp as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MSBI. State Street Corp increased its position in Midland States Bancorp by 2.5% in the third quarter. State Street Corp now owns 587,947 shares of the financial services provider’s stock worth $13,158,000 after buying an additional 14,157 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Midland States Bancorp by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock worth $11,460,000 after acquiring an additional 2,294 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in Midland States Bancorp in the 3rd quarter worth about $5,764,000. Bank of New York Mellon Corp raised its stake in Midland States Bancorp by 36.9% in the 4th quarter. Bank of New York Mellon Corp now owns 209,244 shares of the financial services provider’s stock valued at $5,106,000 after acquiring an additional 56,441 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Midland States Bancorp by 52.3% during the third quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock valued at $2,469,000 after purchasing an additional 37,889 shares during the last quarter. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Stock Up 1.8 %

MSBI opened at $18.45 on Monday. The business’s fifty day simple moving average is $20.58 and its 200 day simple moving average is $23.02. Midland States Bancorp, Inc. has a 52 week low of $18.05 and a 52 week high of $28.08. 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 $394.85 million, a PE ratio of -17.57 and a beta of 0.71.

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

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders 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 6.72%. The ex-dividend date was Friday, February 14th. Midland States Bancorp’s dividend payout ratio (DPR) is presently -118.10%.

Analyst Ratings Changes

A number of research analysts recently weighed in on MSBI shares. 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 report on Tuesday, January 28th. DA Davidson reduced 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. Keefe, Bruyette & Woods decreased their price target on shares of Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a report on Monday, January 27th. Finally, StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, Midland States Bancorp presently has an average rating of “Hold” and a consensus price target of $23.50.

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.