AQR Capital Management LLC Has $1.56 Million Stock Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

AQR Capital Management LLC decreased its stake in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) by 35.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,731 shares of the financial services provider's stock after selling 37,136 shares during the quarter. AQR Capital Management LLC owned 0.32% of Midland States Bancorp worth $1,557,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. American Century Companies Inc. boosted its position in 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 during the period. Bank of New York Mellon Corp raised its stake in shares of Midland States Bancorp by 6.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 165,615 shares of the financial services provider's stock worth $3,751,000 after purchasing an additional 10,354 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Midland States Bancorp by 5.7% during the 4th quarter. Wellington Management Group LLP now owns 132,424 shares of the financial services provider's stock worth $3,650,000 after purchasing an additional 7,103 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Midland States Bancorp by 7.4% during the 1st quarter. Russell Investments Group Ltd. now owns 92,589 shares of the financial services provider's stock worth $2,327,000 after purchasing an additional 6,371 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Midland States Bancorp by 69.6% during the 2nd quarter. Acadian Asset Management LLC now owns 74,722 shares of the financial services provider's stock worth $1,691,000 after purchasing an additional 30,677 shares in the last quarter. Institutional investors and hedge funds own 60.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MSBI. Piper Sandler raised their price target on Midland States Bancorp from $24.50 to $27.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods cut their price objective on Midland States Bancorp from $26.00 to $24.00 and set a "market perform" rating on the stock in a research note on Monday, July 29th.

Midland States Bancorp Stock Performance

Shares of MSBI stock traded up $0.80 during trading on Friday, reaching $22.78. The company had a trading volume of 75,836 shares, compared to its average volume of 79,196. The firm's 50 day simple moving average is $22.02 and its two-hundred day simple moving average is $22.83. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.95 and a quick ratio of 0.95. Midland States Bancorp, Inc. has a one year low of $19.96 and a one year high of $28.47. The company has a market capitalization of $487.26 million, a PE ratio of 9.99 and a beta of 0.75.

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 company had revenue of $120.95 million during the quarter, compared to the consensus estimate of $74.90 million. During the same period in the previous year, the business posted $0.87 earnings per share. Sell-side analysts forecast that Midland States Bancorp, Inc. will post 2 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.44%. Midland States Bancorp's dividend payout ratio (DPR) is presently 54.39%.

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.