Hotchkis & Wiley Capital Management LLC Acquires New Shares in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 257,540 shares of the financial services provider's stock, valued at approximately $5,764,000. Hotchkis & Wiley Capital Management LLC owned 1.20% of Midland States Bancorp as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new position in Midland States Bancorp during the second quarter worth $1,350,000. American Century Companies Inc. increased its position in shares of Midland States Bancorp by 16.0% in the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider's stock valued at $9,107,000 after acquiring an additional 55,555 shares during the last quarter. Acadian Asset Management LLC boosted its position in Midland States Bancorp by 69.6% during the second quarter. Acadian Asset Management LLC now owns 74,722 shares of the financial services provider's stock valued at $1,691,000 after purchasing an additional 30,677 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Midland States Bancorp by 76.2% in the third quarter. BNP Paribas Financial Markets now owns 48,333 shares of the financial services provider's stock valued at $1,082,000 after purchasing an additional 20,900 shares in the last quarter. Finally, PDT Partners LLC acquired a new position in shares of Midland States Bancorp during the 3rd quarter worth approximately $300,000. 60.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MSBI. StockNews.com lowered shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a research report on Friday, November 22nd. Piper Sandler raised their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Midland States Bancorp from $24.00 to $28.00 and gave the stock a "market perform" rating in a research report on Wednesday.

Midland States Bancorp Stock Performance

MSBI traded down $0.01 on Friday, reaching $26.94. The company had a trading volume of 39,501 shares, compared to its average volume of 79,588. Midland States Bancorp, Inc. has a fifty-two week low of $20.54 and a fifty-two week high of $28.47. The stock has a market cap of $576.52 million, a P/E ratio of 11.67 and a beta of 0.75. The company's fifty day moving average is $24.80 and its 200 day moving average is $23.34. 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 - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. The business had revenue of $124.17 million during the quarter, compared to analysts' expectations of $72.90 million. During the same period last year, the firm posted $0.78 EPS. As a group, analysts predict that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 4.60%. The ex-dividend date was Monday, November 18th. Midland States Bancorp's dividend payout ratio (DPR) is 53.68%.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the sale, the chief executive officer now directly owns 343,935 shares in the company, valued at $8,433,286.20. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 5.60% of the company's stock.

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.