Hotchkis & Wiley Capital Management LLC Takes $5.76 Million Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) during the 3rd quarter, Holdings Channel reports. The fund acquired 257,540 shares of the financial services provider’s stock, valued at approximately $5,764,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of Montreal Can bought a new stake in Midland States Bancorp in the 2nd quarter valued at $1,350,000. American Century Companies Inc. increased its holdings in Midland States Bancorp by 16.0% in the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after acquiring an additional 55,555 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Midland States Bancorp by 69.6% in the 2nd quarter. Acadian Asset Management LLC now owns 74,722 shares of the financial services provider’s stock valued at $1,691,000 after acquiring an additional 30,677 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Midland States Bancorp by 76.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 48,333 shares of the financial services provider’s stock valued at $1,082,000 after acquiring an additional 20,900 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in Midland States Bancorp in the 3rd quarter valued at $300,000. 60.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the completion of the sale, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at $8,433,286.20. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is owned by corporate insiders.

Midland States Bancorp Price Performance

MSBI stock opened at $26.95 on Friday. Midland States Bancorp, Inc. has a 12 month low of $20.54 and a 12 month high of $28.47. 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 company has a 50-day moving average price of $24.80 and a 200 day moving average price of $23.34. The stock has a market cap of $576.73 million, a PE ratio of 11.67 and a beta of 0.75.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.11. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. The firm had revenue of $124.17 million during the quarter, compared to analysts’ expectations of $72.90 million. During the same period in the previous year, the company earned $0.78 EPS. Equities research analysts anticipate that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a $0.31 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.24 annualized dividend and a yield of 4.60%. Midland States Bancorp’s dividend payout ratio (DPR) is 53.68%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. StockNews.com downgraded shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday. Finally, Piper Sandler boosted their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th.

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.