Thrivent Financial for Lutherans Sells 25,677 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Thrivent Financial for Lutherans cut its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 35.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,990 shares of the financial services provider's stock after selling 25,677 shares during the period. Thrivent Financial for Lutherans owned about 0.21% of Midland States Bancorp worth $1,122,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in Midland States Bancorp in the third quarter valued at about $31,000. R Squared Ltd bought a new position in shares of Midland States Bancorp in the 4th quarter worth approximately $39,000. Point72 Asset Management L.P. bought a new position in shares of Midland States Bancorp in the 3rd quarter worth approximately $45,000. Quantbot Technologies LP boosted its holdings in shares of Midland States Bancorp by 25.8% in the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider's stock worth $55,000 after buying an additional 507 shares during the last quarter. Finally, Ieq Capital LLC bought a new stake in Midland States Bancorp during the fourth quarter valued at approximately $210,000. 60.93% of the stock is owned by institutional investors.

Midland States Bancorp Price Performance

Shares of MSBI stock traded up $0.18 on Friday, hitting $16.02. 216,159 shares of the stock traded hands, compared to its average volume of 94,975. 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, Inc. has a 52 week low of $15.21 and a 52 week high of $28.08. The firm has a 50 day simple moving average of $18.71 and a two-hundred day simple moving average of $22.51. The firm has a market cap of $342.84 million, a price-to-earnings ratio of -15.26 and a beta of 0.58.

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 net margin of 2.74% and a negative return on equity of 1.95%. As a group, equities research analysts predict that Midland States Bancorp, Inc. will post 2.53 earnings per share 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 given a dividend of $0.31 per share. 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 currently -118.10%.

Analysts Set New Price Targets

Several research analysts have weighed in on MSBI shares. DA Davidson decreased 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 research report on Tuesday, January 28th. Piper Sandler decreased their target price 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. StockNews.com lowered Midland States Bancorp from a "buy" rating to a "hold" rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods decreased 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. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Midland States Bancorp presently has an average rating of "Hold" and a consensus target price 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.