Sequoia Financial Advisors LLC Purchases Shares of 31,037 Midland States Bancorp, Inc. (NASDAQ:MSBI)

Sequoia Financial Advisors LLC bought a new stake in Midland States Bancorp, Inc. (NASDAQ:MSBI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 31,037 shares of the financial services provider's stock, valued at approximately $757,000. Sequoia Financial Advisors LLC owned 0.15% of Midland States Bancorp as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Hotchkis & Wiley Capital Management LLC acquired a new position in Midland States Bancorp during the third quarter worth about $5,764,000. Dana Investment Advisors Inc. acquired a new position in Midland States Bancorp in the 4th quarter valued at about $1,382,000. Bank of New York Mellon Corp raised its stake in shares of Midland States Bancorp by 36.9% in the 4th quarter. Bank of New York Mellon Corp now owns 209,244 shares of the financial services provider's stock valued at $5,106,000 after acquiring an additional 56,441 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Midland States Bancorp by 52.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider's stock valued at $2,469,000 after acquiring an additional 37,889 shares during the period. Finally, Barclays PLC increased its stake in Midland States Bancorp by 55.2% during the 3rd quarter. Barclays PLC now owns 65,384 shares of the financial services provider's stock worth $1,463,000 after buying an additional 23,242 shares during the period. Institutional investors and hedge funds own 60.93% of the company's stock.

Wall Street Analysts Forecast Growth

MSBI has been the topic of several recent research reports. Piper Sandler cut their target price on shares of Midland States Bancorp from $28.50 to $23.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 28th. StockNews.com cut shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods decreased their price target on shares of Midland States Bancorp from $28.00 to $23.00 and set a "market perform" rating for the company in a research note on Monday, January 27th. Finally, DA Davidson cut their price objective on shares of Midland States Bancorp from $27.00 to $21.00 and set a "neutral" rating for the company in a research report on Tuesday, January 28th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $23.50.

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Midland States Bancorp Trading Down 0.8 %

Shares of Midland States Bancorp stock traded down $0.14 during mid-day trading on Thursday, hitting $18.03. 66,255 shares of the stock were exchanged, compared to its average volume of 116,588. Midland States Bancorp, Inc. has a twelve month low of $17.95 and a twelve month high of $28.08. The stock has a market capitalization of $385.86 million, a price-to-earnings ratio of -17.17 and a beta of 0.71. The company has a 50-day simple moving average of $20.26 and a 200 day simple moving average of $22.93. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79.

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 the consensus estimate 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%. Research analysts forecast that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.24 annualized dividend and a dividend yield of 6.88%. Midland States Bancorp's dividend payout ratio is presently -118.10%.

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.