American Century Companies Inc. Boosts Stock Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

American Century Companies Inc. lifted its position in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 16.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402,092 shares of the financial services provider's stock after purchasing an additional 55,555 shares during the period. American Century Companies Inc. owned about 1.87% of Midland States Bancorp worth $9,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in shares of Midland States Bancorp by 176.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider's stock worth $39,000 after purchasing an additional 909 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of Midland States Bancorp in the first quarter worth about $42,000. Comerica Bank boosted its position in Midland States Bancorp by 950.4% during the first quarter. Comerica Bank now owns 7,468 shares of the financial services provider's stock worth $188,000 after acquiring an additional 6,757 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Midland States Bancorp during the 2nd quarter valued at about $218,000. Finally, Trexquant Investment LP acquired a new stake in Midland States Bancorp in the 4th quarter valued at about $318,000. 60.93% of the stock is owned by hedge funds and other institutional investors.

Midland States Bancorp Trading Down 0.9 %

NASDAQ MSBI traded down $0.20 during trading hours on Monday, reaching $22.35. The company had a trading volume of 77,207 shares, compared to its average volume of 78,981. The stock has a 50-day moving average of $22.76 and a 200 day moving average of $23.05. The stock has a market capitalization of $480.12 million, a P/E ratio of 7.67 and a beta of 0.76. Midland States Bancorp, Inc. has a 1-year low of $19.85 and a 1-year high of $28.47. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.72 by ($0.52). Midland States Bancorp had a net margin of 12.10% and a return on equity of 9.24%. The firm had revenue of $120.95 million during the quarter, compared to analyst estimates of $74.90 million. During the same period in the previous year, the firm posted $0.87 earnings per share. As a group, research analysts anticipate that Midland States Bancorp, Inc. will post 1.99 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, August 23rd. Stockholders of record on Friday, August 16th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date was Friday, August 16th. Midland States Bancorp's dividend payout ratio is currently 42.18%.

Analyst Upgrades and Downgrades

Several research firms recently commented on MSBI. Piper Sandler increased their price target on Midland States Bancorp from $24.50 to $27.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Keefe, Bruyette & Woods decreased their target price on shares of Midland States Bancorp from $26.00 to $24.00 and set a "market perform" rating on the stock in a report on Monday, July 29th.

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.