Core Viewpoint - Thrivent Financial for Lutherans significantly reduced its stake in Midland States Bancorp by 67.9% in Q3, indicating a shift in investment strategy towards the financial services provider [2] Institutional Holdings - AQR Capital Management LLC increased its holdings in Midland States Bancorp by 38.1% in Q2, now owning 540,997 shares valued at $9.37 million after purchasing an additional 149,175 shares [3] - Los Angeles Capital Management LLC acquired a new position valued at approximately $1.01 million in Q2 [3] - Jump Financial LLC raised its holdings by 272.5%, now owning 55,500 shares worth $961,000 after buying an additional 40,600 shares [3] - Qube Research & Technologies Ltd purchased a new stake valued at $693,000 [3] - Arrowstreet Capital Limited Partnership increased its position by 33.6%, owning 133,194 shares worth $2.31 million after buying an additional 33,532 shares [3] - Institutional investors and hedge funds collectively own 60.93% of Midland States Bancorp's stock [3] Analyst Ratings and Price Targets - Piper Sandler raised the target price from $23.00 to $25.50, maintaining a "neutral" rating [4] - Wall Street Zen upgraded the stock from "sell" to "hold" [4] - DA Davidson increased the target price from $23.00 to $24.00, also giving a "neutral" rating [4] - UBS Group set a price objective of $25.50 [4] - Keefe, Bruyette & Woods raised their target price from $17.00 to $19.00, rating it as "market perform" [4] - The consensus rating for Midland States Bancorp is "Hold" with a target price of $23.00 [4] Insider Transactions - COO Kyle Owen Mooney sold 2,808 shares at an average price of $22.67, totaling $63,657.36, representing a 16.50% decrease in ownership [5] - Insider Daniel Edward Casey acquired 5,000 shares at an average cost of $17.89, totaling $89,450, representing a 21.50% increase in ownership [5] - Insiders purchased a total of 11,098 shares valued at $197,324 in the last quarter, with insiders owning 5.27% of the company's stock [5] Financial Performance - Midland States Bancorp reported Q4 earnings of $0.53 per share, missing the consensus estimate of $0.70 by $0.17 [7] - The company had revenue of $85.79 million, exceeding analyst estimates of $74.49 million [7] - The net margin was 6.62% and return on equity was 10.41% [7] - Analysts predict an EPS of 2.53 for the current fiscal year [7] Stock Performance and Dividends - MSBI stock opened at $23.16, with a 12-month low of $14.24 and a high of $24.57 [6] - The company has a market capitalization of $499.10 million, a P/E ratio of 22.93, and a beta of 0.66 [6] - A quarterly dividend of $0.32 per share was declared, representing an annualized dividend of $1.28 and a yield of 5.5% [8] - The dividend payout ratio is currently 126.73% [8] Stock Buyback Program - Midland States Bancorp initiated a stock buyback program allowing the repurchase of $25 million in outstanding shares, indicating the board's belief that the stock is undervalued [9]