Charles Schwab Investment Management Inc. Has $4.42 Million Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Charles Schwab Investment Management Inc. trimmed its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,196 shares of the financial services provider’s stock after selling 6,813 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Midland States Bancorp were worth $4,421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP grew its stake in shares of Midland States Bancorp by 25.8% in the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 507 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Midland States Bancorp during the third quarter valued at about $31,000. R Squared Ltd bought a new stake in shares of Midland States Bancorp during the fourth quarter valued at approximately $39,000. Point72 Asset Management L.P. bought a new position in shares of Midland States Bancorp in the third quarter valued at $45,000. Finally, SG Americas Securities LLC grew its holdings in shares of Midland States Bancorp by 14.8% during the fourth quarter. SG Americas Securities LLC now owns 16,317 shares of the financial services provider’s stock valued at $398,000 after buying an additional 2,103 shares during the last quarter. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Stock Performance

Shares of MSBI opened at $17.66 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average price of $19.83 and a 200-day moving average price of $22.80. The company has a market cap of $377.94 million, a PE ratio of -16.82 and a beta of 0.71. Midland States Bancorp, Inc. has a 12-month low of $17.54 and a 12-month high of $28.08.

Midland States Bancorp (NASDAQ:MSBI) last issued 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%. As a group, equities analysts forecast that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 7.02%. The ex-dividend date of this dividend was Friday, February 14th. Midland States Bancorp’s dividend payout ratio is currently -118.10%.

Analysts Set New Price Targets

Several brokerages recently weighed in on MSBI. DA Davidson dropped their price target on shares of Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods cut their price target on 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. Piper Sandler lowered 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 report on Tuesday, January 28th. Finally, StockNews.com downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.50.

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.