Prudential Financial Inc. Has $3.47 Million Stake in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Prudential Financial Inc. increased its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 43.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,029 shares of the financial services provider's stock after purchasing an additional 42,800 shares during the quarter. Prudential Financial Inc. owned about 0.66% of Midland States Bancorp worth $3,466,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. KLP Kapitalforvaltning AS acquired a new position in Midland States Bancorp during the 4th quarter worth $437,000. Hillsdale Investment Management Inc. acquired a new position in shares of Midland States Bancorp during the fourth quarter valued at $2,606,000. American Century Companies Inc. boosted its holdings in Midland States Bancorp by 7.2% in the fourth quarter. American Century Companies Inc. now owns 475,642 shares of the financial services provider's stock valued at $11,606,000 after acquiring an additional 31,859 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Midland States Bancorp in the fourth quarter valued at about $260,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Midland States Bancorp in the fourth quarter worth about $641,000. Institutional investors and hedge funds own 60.93% of the company's stock.

Midland States Bancorp Trading Up 1.1 %

MSBI traded up $0.18 during mid-day trading on Friday, hitting $16.02. The stock had a trading volume of 216,159 shares, compared to its average volume of 94,975. The stock's fifty day simple moving average is $18.71 and its 200-day simple moving average is $22.50. The firm has a market capitalization of $342.84 million, a price-to-earnings ratio of -15.26 and a beta of 0.58. Midland States Bancorp, Inc. has a 1-year low of $15.21 and a 1-year high of $28.08. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91.

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 analysts' consensus estimates 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%. As a group, research analysts forecast that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 14th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 7.74%. The ex-dividend date was Friday, February 14th. Midland States Bancorp's payout ratio is -118.10%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MSBI. Keefe, Bruyette & Woods cut their target price 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 cut their price objective 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. StockNews.com lowered shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a report on Friday, January 24th. Finally, Piper Sandler dropped their target price on shares of Midland States Bancorp from $28.50 to $23.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, Midland States Bancorp has a consensus rating of "Hold" and an average price target of $23.50.

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.