Bank of Montreal Can Takes $1.35 Million Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Bank of Montreal Can acquired a new position in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 59,302 shares of the financial services provider's stock, valued at approximately $1,350,000. Bank of Montreal Can owned 0.28% of Midland States Bancorp at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Midland States Bancorp in the first quarter worth about $42,000. Comerica Bank boosted its stake in Midland States Bancorp by 950.4% in the 1st quarter. Comerica Bank now owns 7,468 shares of the financial services provider's stock valued at $188,000 after buying an additional 6,757 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Midland States Bancorp in the 2nd quarter valued at $218,000. Los Angeles Capital Management LLC grew its position in Midland States Bancorp by 9.0% in the first quarter. Los Angeles Capital Management LLC now owns 18,575 shares of the financial services provider's stock valued at $467,000 after acquiring an additional 1,532 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Midland States Bancorp by 60.1% during the first quarter. BNP Paribas Financial Markets now owns 20,702 shares of the financial services provider's stock worth $520,000 after acquiring an additional 7,770 shares in the last quarter. Institutional investors own 60.93% of the company's stock.

Midland States Bancorp Price Performance

Shares of MSBI stock traded up $0.28 during trading hours on Friday, hitting $21.70. 55,228 shares of the company's stock were exchanged, compared to its average volume of 79,660. Midland States Bancorp, Inc. has a 52 week low of $19.96 and a 52 week high of $28.47. The stock has a market cap of $466.16 million, a price-to-earnings ratio of 7.38 and a beta of 0.75. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.95 and a quick ratio of 0.95. The stock's 50-day moving average is $22.12 and its 200-day moving average is $22.90.

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 EPS for the quarter, missing analysts' consensus estimates of $0.72 by ($0.52). Midland States Bancorp had a return on equity of 9.24% and a net margin of 12.10%. The company had revenue of $120.95 million for the quarter, compared to the consensus estimate of $74.90 million. During the same period in the prior year, the company earned $0.87 EPS. As a group, research analysts forecast that Midland States Bancorp, Inc. will post 1.99 EPS for the current year.

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date was Friday, August 16th. Midland States Bancorp's dividend payout ratio is currently 42.18%.

Analyst Ratings Changes

MSBI has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered 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. Piper Sandler upped their price objective on shares of Midland States Bancorp from $24.50 to $27.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th.

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.