Dana Investment Advisors Inc. Acquires New Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Dana Investment Advisors Inc. acquired a new stake in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 56,633 shares of the financial services provider's stock, valued at approximately $1,382,000. Dana Investment Advisors Inc. owned 0.26% of Midland States Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Midland States Bancorp in the 3rd quarter worth about $5,764,000. Bank of New York Mellon Corp raised its stake in shares of Midland States Bancorp by 36.9% in 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 purchasing an additional 56,441 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Midland States Bancorp by 52.3% in 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 in the last quarter. Barclays PLC lifted its holdings in shares of Midland States Bancorp by 55.2% in the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider's stock valued at $1,463,000 after purchasing an additional 23,242 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Midland States Bancorp by 31.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider's stock valued at $1,996,000 after buying an additional 21,416 shares during the last quarter. Institutional investors own 60.93% of the company's stock.

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Wall Street Analysts Forecast Growth

MSBI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their price objective on Midland States Bancorp from $28.00 to $23.00 and set a "market perform" rating on the stock in a research note on Monday, January 27th. StockNews.com downgraded shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a report on Friday, January 24th. DA Davidson cut their price target on shares of Midland States Bancorp from $27.00 to $21.00 and set a "neutral" rating on the stock in a report on Tuesday, January 28th. Finally, Piper Sandler decreased their price objective on shares of Midland States Bancorp from $28.50 to $23.00 and set a "neutral" rating for the company in a research note on Tuesday, January 28th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $23.50.

Midland States Bancorp Stock Performance

Shares of NASDAQ MSBI traded up $0.07 during mid-day trading on Wednesday, reaching $18.30. 83,538 shares of the company's stock were exchanged, compared to its average volume of 119,625. The firm has a 50-day moving average price of $20.92 and a two-hundred day moving average price of $23.12. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $391.64 million, a price-to-earnings ratio of -17.43 and a beta of 0.71. Midland States Bancorp, Inc. has a 52 week low of $18.05 and a 52 week high of $28.08.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its quarterly earnings data 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 return on equity of 1.95% and a negative net margin of 2.74%. Analysts predict that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 6.78%. The ex-dividend date of this dividend was Friday, February 14th. Midland States Bancorp's dividend payout ratio (DPR) is -118.10%.

Midland States Bancorp Company 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.