Hillsdale Investment Management Inc. Invests $2.61 Million in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Hillsdale Investment Management Inc. bought a new stake in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 106,813 shares of the financial services provider's stock, valued at approximately $2,606,000. Hillsdale Investment Management Inc. owned about 0.50% of Midland States Bancorp at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MSBI. State Street Corp increased its position in shares of Midland States Bancorp by 2.5% during the third quarter. State Street Corp now owns 587,947 shares of the financial services provider's stock worth $13,158,000 after purchasing an additional 14,157 shares in the last quarter. Geode Capital Management LLC grew its stake in 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 buying an additional 2,294 shares during the last quarter. American Century Companies Inc. increased its position in Midland States Bancorp by 7.2% during the fourth quarter. American Century Companies Inc. now owns 475,642 shares of the financial services provider's stock worth $11,606,000 after buying an additional 31,859 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in Midland States Bancorp in the third quarter valued at approximately $5,764,000. Finally, Bank of New York Mellon Corp boosted its holdings 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 valued at $5,106,000 after acquiring an additional 56,441 shares during the period. 60.93% of the stock is currently owned by institutional investors and hedge funds.

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Midland States Bancorp Stock Performance

Midland States Bancorp stock traded up $0.03 during trading hours on Thursday, reaching $17.64. 86,349 shares of the stock were exchanged, compared to its average volume of 90,261. Midland States Bancorp, Inc. has a 52-week low of $17.32 and a 52-week high of $28.08. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. The firm's 50 day moving average is $19.70 and its 200 day moving average is $22.77. The stock has a market cap of $377.51 million, a P/E ratio of -16.80 and a beta of 0.71.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last released its earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (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 fiscal year.

Midland States Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.24 annualized dividend and a dividend yield of 7.03%. Midland States Bancorp's payout ratio is currently -118.10%.

Analysts Set New Price Targets

A number of brokerages have recently commented on MSBI. StockNews.com cut shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a report on Friday, January 24th. DA Davidson reduced their target price on shares of Midland States Bancorp from $27.00 to $21.00 and set a "neutral" rating for the company in a report on Tuesday, January 28th. Piper Sandler lowered their price target on Midland States Bancorp from $28.50 to $23.00 and set a "neutral" rating on the stock in a report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods reduced their price objective on Midland States Bancorp from $28.00 to $23.00 and set a "market perform" rating for the company in a research note on Monday, January 27th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, Midland States Bancorp currently has an average rating of "Hold" and a consensus 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.