Dana Investment Advisors Inc. Invests $1.38 Million in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Dana Investment Advisors Inc. purchased a new position in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,633 shares of the financial services provider’s stock, valued at approximately $1,382,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MSBI. Point72 DIFC Ltd bought a new stake in Midland States Bancorp during the third quarter worth $31,000. R Squared Ltd bought a new stake in Midland States Bancorp during the fourth quarter worth $39,000. Point72 Asset Management L.P. bought a new stake in Midland States Bancorp during the third quarter worth $45,000. Quantbot Technologies LP raised its position 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 valued at $55,000 after purchasing an additional 507 shares during the period. Finally, US Bancorp DE raised its position in shares of Midland States Bancorp by 141.6% in the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 2,229 shares during the period. 60.93% of the stock is owned by institutional investors.

Midland States Bancorp Trading Up 0.5 %

MSBI stock opened at $18.82 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. The company’s 50-day simple moving average is $21.17 and its 200 day simple moving average is $23.17. Midland States Bancorp, Inc. has a 52 week low of $18.50 and a 52 week high of $28.08. The company has a market capitalization of $402.77 million, a PE ratio of -17.92 and a beta of 0.71.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) EPS for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a negative net margin of 2.74% and a negative return on equity of 1.95%. As a group, sell-side analysts anticipate that Midland States Bancorp, Inc. will post 2.53 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, February 21st. Investors of record on Friday, February 14th were paid 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 6.59%. Midland States Bancorp’s dividend payout ratio (DPR) is presently -118.10%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MSBI. Keefe, Bruyette & Woods dropped their price objective on shares of Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a research report on Monday, January 27th. StockNews.com lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Piper Sandler dropped their price objective on shares of Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Finally, DA Davidson dropped their price objective 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. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, Midland States Bancorp has a consensus rating of “Hold” and a consensus price target 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.