Midland States Bancorp, Inc. (NASDAQ:MSBI) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its position in Midland States Bancorp, Inc. (NASDAQ:MSBI) by 9.9% in the fourth quarter, Holdings Channel reports. The firm owned 19,274 shares of the financial services provider’s stock after purchasing an additional 1,740 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Midland States Bancorp were worth $531,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. AQR Capital Management LLC boosted its stake in Midland States Bancorp by 27.5% in the third quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock valued at $5,147,000 after acquiring an additional 54,090 shares during the period. Vanguard Group Inc. boosted its stake in Midland States Bancorp by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,110,782 shares of the financial services provider’s stock valued at $22,815,000 after acquiring an additional 7,132 shares during the period. American Century Companies Inc. boosted its stake in Midland States Bancorp by 11.3% in the third quarter. American Century Companies Inc. now owns 239,352 shares of the financial services provider’s stock valued at $4,916,000 after acquiring an additional 24,320 shares during the period. SG Americas Securities LLC boosted its stake in Midland States Bancorp by 89.4% in the third quarter. SG Americas Securities LLC now owns 13,542 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 6,393 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Midland States Bancorp by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 186,258 shares of the financial services provider’s stock valued at $3,826,000 after acquiring an additional 3,154 shares during the period. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their target price on Midland States Bancorp from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th.

Midland States Bancorp Stock Performance

Shares of MSBI stock opened at $22.36 on Friday. Midland States Bancorp, Inc. has a 12-month low of $17.98 and a 12-month high of $28.47. The firm has a market capitalization of $488.57 million, a price-to-earnings ratio of 7.61 and a beta of 0.77. The business has a 50 day simple moving average of $24.15 and a 200 day simple moving average of $24.35. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.96 and a quick ratio of 0.96.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. The business had revenue of $78.59 million during the quarter, compared to analyst estimates of $75.65 million. On average, equities research analysts anticipate that Midland States Bancorp, Inc. will post 2.94 EPS for the current year.

Midland States Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 16th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 5.55%. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, February 15th. Midland States Bancorp’s dividend payout ratio is 42.18%.

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.