Connor Clark & Lunn Investment Management Ltd. Takes Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) in the fourth quarter, HoldingsChannel reports. The firm acquired 26,284 shares of the financial services provider’s stock, valued at approximately $641,000.

A number of other institutional investors have also recently made changes to their positions in the company. Sequoia Financial Advisors LLC purchased a new position in shares of Midland States Bancorp during the fourth quarter valued at about $757,000. AlphaQuest LLC grew its position in shares of Midland States Bancorp by 97.4% during the fourth 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 in the last quarter. Callan Family Office LLC purchased a new position in shares of Midland States Bancorp during the fourth 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. Finally, Bank of New York Mellon Corp grew its position in Midland States Bancorp by 36.9% in the fourth quarter. Bank of New York Mellon Corp now owns 209,244 shares of the financial services provider’s stock worth $5,106,000 after acquiring an additional 56,441 shares in the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on MSBI shares. Piper Sandler dropped their price target on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods dropped 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 report on Monday, January 27th. DA Davidson dropped their price target on 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. Finally, StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.50.

Midland States Bancorp Stock Down 1.2 %

Shares of NASDAQ:MSBI opened at $17.82 on Friday. Midland States Bancorp, Inc. has a 1 year low of $17.54 and a 1 year high of $28.08. The business has a 50 day simple moving average of $20.06 and a two-hundred day simple moving average of $22.86. The firm has a market capitalization of $381.37 million, a PE ratio of -16.97 and a beta of 0.71. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last announced 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 net margin of 2.74% and a negative return on equity of 1.95%. On average, equities analysts predict that Midland States Bancorp, Inc. will post 2.53 EPS for the current year.

Midland States Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 14th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.24 annualized dividend and a dividend yield of 6.96%. Midland States Bancorp’s dividend payout ratio (DPR) is presently -118.10%.

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.