Connor Clark & Lunn Investment Management Ltd. Makes New $641,000 Investment in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 26,284 shares of the financial services provider's stock, valued at approximately $641,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of Midland States Bancorp at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in shares of Midland States Bancorp in the 3rd quarter valued at approximately $31,000. R Squared Ltd purchased a new position in Midland States Bancorp during the fourth quarter worth $39,000. Point72 Asset Management L.P. bought a new position in Midland States Bancorp during the third quarter valued at $45,000. Quantbot Technologies LP raised its stake in shares of 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 acquiring an additional 507 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Midland States Bancorp in the 3rd quarter worth about $148,000. Hedge funds and other institutional investors own 60.93% of the company's stock.

Midland States Bancorp Trading Down 0.3 %

Shares of Midland States Bancorp stock traded down $0.05 on Wednesday, hitting $17.61. 79,704 shares of the company traded hands, compared to its average volume of 90,042. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The company has a market cap of $376.87 million, a PE ratio of -16.77 and a beta of 0.71. The stock's 50 day moving average price is $19.83 and its 200-day moving average price is $22.80. Midland States Bancorp, Inc. has a 52 week low of $17.49 and a 52 week high of $28.08.

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Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued 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 return on equity of 1.95% and a negative net margin of 2.74%. Equities research analysts predict that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp Announces Dividend

The firm 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. 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 7.04%. Midland States Bancorp's dividend payout ratio is presently -118.10%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. 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 on the stock in a research report on Monday, January 27th. DA Davidson reduced their price target on Midland States Bancorp from $27.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday, January 28th. StockNews.com lowered Midland States Bancorp from a "buy" rating to a "hold" rating in a research note on Friday, January 24th. Finally, Piper Sandler cut 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. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $23.50.

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.