Sequoia Financial Advisors LLC Makes New $757,000 Investment in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Sequoia Financial Advisors LLC bought a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) during the 4th quarter, Holdings Channel reports. The fund bought 31,037 shares of the financial services provider’s stock, valued at approximately $757,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC increased its position in Midland States Bancorp by 97.4% during the 4th quarter. AlphaQuest LLC now owns 13,062 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 6,445 shares during the period. Callan Family Office LLC bought a new stake in shares of Midland States Bancorp during the 4th quarter valued at about $280,000. Dana Investment Advisors Inc. purchased a new position in shares of Midland States Bancorp during the fourth quarter valued at about $1,382,000. Bank of New York Mellon Corp increased its position in shares of Midland States Bancorp by 36.9% during the fourth 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 buying an additional 56,441 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Midland States Bancorp in the fourth quarter worth about $356,000. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Price Performance

MSBI stock opened at $18.45 on Monday. 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 firm has a 50 day moving average price of $20.58 and a 200-day moving average price of $23.02. Midland States Bancorp, Inc. has a 52-week low of $18.05 and a 52-week high of $28.08. The firm has a market capitalization of $394.85 million, a price-to-earnings ratio of -17.57 and a beta of 0.71.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts forecast that Midland States Bancorp, Inc. will post 2.53 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 6.72%. The ex-dividend date was Friday, February 14th. Midland States Bancorp’s dividend payout ratio (DPR) is -118.10%.

Wall Street Analysts Forecast Growth

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

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.