JPMorgan Chase & Co. Has $2.47 Million Stock Holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI)

JPMorgan Chase & Co. raised its holdings in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 52.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,306 shares of the financial services provider's stock after acquiring an additional 37,889 shares during the quarter. JPMorgan Chase & Co. owned about 0.52% of Midland States Bancorp worth $2,469,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its stake in shares of Midland States Bancorp by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider's stock valued at $761,000 after purchasing an additional 683 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Midland States Bancorp by 16.0% during the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider's stock worth $9,107,000 after acquiring an additional 55,555 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Midland States Bancorp by 9.9% during the 2nd quarter. Hsbc Holdings PLC now owns 28,562 shares of the financial services provider's stock valued at $652,000 after acquiring an additional 2,562 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Midland States Bancorp by 6.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 68,640 shares of the financial services provider's stock valued at $1,554,000 after acquiring an additional 3,976 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in Midland States Bancorp in the 2nd quarter worth $1,350,000. 60.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MSBI. Piper Sandler raised their price target on Midland States Bancorp from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods raised their target price on Midland States Bancorp from $24.00 to $28.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Finally, StockNews.com upgraded Midland States Bancorp from a "hold" rating to a "buy" rating in a report on Monday, January 13th.

Midland States Bancorp Stock Up 1.5 %

Shares of MSBI opened at $24.61 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $25.51 and a two-hundred day moving average price of $23.90. The stock has a market cap of $526.65 million, a price-to-earnings ratio of 10.65 and a beta of 0.76. Midland States Bancorp, Inc. has a 12 month low of $20.54 and a 12 month high of $28.10.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $72.90 million. During the same quarter in the previous year, the firm earned $0.78 EPS. Equities analysts predict that Midland States Bancorp, Inc. will post 2.16 EPS for the current fiscal year.

Midland States Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.04%. Midland States Bancorp's payout ratio is 53.68%.

Insider Activity

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 stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the transaction, the chief executive officer now owns 343,935 shares in the company, valued at approximately $8,433,286.20. This represents a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 5.60% of the stock is owned by insiders.

About Midland States Bancorp

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.