Trexquant Investment LP Reduces Stock Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Trexquant Investment LP cut its stake in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 34.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,421 shares of the financial services provider’s stock after selling 26,299 shares during the period. Trexquant Investment LP owned approximately 0.24% of Midland States Bancorp worth $1,230,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MSBI. Geode Capital Management LLC grew its position in shares of Midland States Bancorp by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 518,209 shares of the financial services provider’s stock valued at $12,648,000 after purchasing an additional 6,273 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Midland States Bancorp by 392.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 86,621 shares of the financial services provider’s stock valued at $2,114,000 after purchasing an additional 69,038 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Midland States Bancorp by 33.8% in the fourth quarter. JPMorgan Chase & Co. now owns 147,560 shares of the financial services provider’s stock valued at $3,600,000 after purchasing an additional 37,254 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Midland States Bancorp by 43.1% in the fourth quarter. Prudential Financial Inc. now owns 142,029 shares of the financial services provider’s stock valued at $3,466,000 after purchasing an additional 42,800 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Midland States Bancorp in the fourth quarter valued at approximately $437,000. 60.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MSBI has been the topic of several research reports. StockNews.com lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research 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 report on Tuesday, January 28th. Keefe, Bruyette & Woods decreased their target price on shares of 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. Finally, DA Davidson decreased their target price on shares of Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.50.

Midland States Bancorp Stock Down 4.6 %

Shares of NASDAQ MSBI opened at $15.70 on Friday. Midland States Bancorp, Inc. has a 1 year low of $15.21 and a 1 year high of $28.08. The firm’s 50 day moving average price is $18.29 and its 200 day moving average price is $22.23. The firm has a market cap of $336.00 million, a P/E ratio of -14.95 and a beta of 0.58. 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 quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share for the quarter, missing analysts’ consensus estimates 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 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 7.90%. Midland States Bancorp’s dividend payout ratio (DPR) 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.