Lazard Asset Management LLC Boosts Stock Position in Midland States Bancorp, Inc. (NASDAQ:MSBI)

Lazard Asset Management LLC raised its stake in Midland States Bancorp, Inc. (NASDAQ:MSBIGet Rating) by 89.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 3,943 shares of the financial services provider’s stock after buying an additional 1,865 shares during the quarter. Lazard Asset Management LLC’s holdings in Midland States Bancorp were worth $94,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can grew its stake in Midland States Bancorp by 36.5% in the first quarter. Great West Life Assurance Co. Can now owns 2,063 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 552 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Midland States Bancorp by 98.5% during the first quarter. Captrust Financial Advisors now owns 1,574 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 781 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Midland States Bancorp by 5.8% during the first quarter. Hsbc Holdings PLC now owns 18,702 shares of the financial services provider’s stock worth $545,000 after acquiring an additional 1,018 shares during the last quarter. UBS Group AG grew its stake in shares of Midland States Bancorp by 6.0% during the first quarter. UBS Group AG now owns 31,775 shares of the financial services provider’s stock worth $917,000 after acquiring an additional 1,788 shares during the last quarter. Finally, Ensign Peak Advisors Inc purchased a new stake in shares of Midland States Bancorp during the first quarter worth about $61,000. Hedge funds and other institutional investors own 61.87% of the company’s stock.

Midland States Bancorp Trading Down 1.5 %

Midland States Bancorp stock opened at $26.44 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.87. Midland States Bancorp, Inc. has a 52 week low of $23.48 and a 52 week high of $30.60. The company has a market capitalization of $585.62 million, a price-to-earnings ratio of 6.69 and a beta of 0.93. The stock has a 50-day moving average price of $26.09 and a 200 day moving average price of $25.83.

Midland States Bancorp (NASDAQ:MSBIGet Rating) last released its earnings results on Thursday, October 20th. The financial services provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.03. Midland States Bancorp had a return on equity of 14.30% and a net margin of 26.21%. The firm had revenue of $79.85 million during the quarter, compared to the consensus estimate of $78.85 million. Sell-side analysts anticipate that Midland States Bancorp, Inc. will post 3.9 EPS for the current year.

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Monday, November 14th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Thursday, November 10th. Midland States Bancorp’s payout ratio is presently 29.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MSBI shares. Raymond James started coverage on Midland States Bancorp in a research note on Thursday, September 1st. They set a “market perform” rating on the stock. StockNews.com upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, November 17th. Piper Sandler dropped their price target on Midland States Bancorp to $27.00 in a research note on Thursday, September 29th. DA Davidson lifted their target price on Midland States Bancorp to $29.00 in a report on Thursday, October 27th. Finally, Stephens decreased their target price on Midland States Bancorp from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Monday, October 24th.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, President Jeffrey S. Mefford sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $25.51, for a total value of $40,816.00. Following the completion of the transaction, the president now directly owns 26,375 shares of the company’s stock, valued at $672,826.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders sold 4,800 shares of company stock valued at $123,936. 5.80% of the stock is owned by company insiders.

About Midland States Bancorp

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Midland States Bancorp, Inc is a bank holding company engaged in the provision of commercial and consumer banking products and services. It operates through the following segments: Banking, Wealth Management, and Other. The Banking segment offers financial products and services such as loans, mortgage loan sales and servicing, letters of credit, deposit products, merchant services, and corporate treasury management services.

Further Reading

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Institutional Ownership by Quarter for Midland States Bancorp (NASDAQ:MSBI)

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