Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have received a consensus rating of “Reduce” from the six brokerages that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $23.00.

MSBI has been the topic of a number of recent research reports. DA Davidson raised their price objective on Midland States Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods raised their price target on Midland States Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Monday, December 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, December 29th. Zacks Research cut shares of Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Finally, Wall Street Zen upgraded shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 23rd.

Midland States Bancorp Trading Down 3.2%

MSBI stock opened at $21.21 on Monday. The company has a market capitalization of $445.20 million, a PE ratio of 21.00 and a beta of 0.62. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.80 and a current ratio of 0.80. Midland States Bancorp has a one year low of $14.24 and a one year high of $24.57. The company’s 50 day moving average price is $22.61 and its two-hundred day moving average price is $19.42.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, January 22nd. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.17). The business had revenue of $85.79 million for the quarter, compared to the consensus estimate of $74.49 million. Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.47%. As a group, analysts predict that Midland States Bancorp will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Friday, February 13th. Midland States Bancorp’s dividend payout ratio is 126.73%.

Insider Buying and Selling at Midland States Bancorp

In other news, COO Kyle Owen Mooney sold 2,808 shares of the stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $22.67, for a total transaction of $63,657.36. Following the completion of the sale, the chief operating officer directly owned 14,207 shares in the company, valued at approximately $322,072.69. This represents a 16.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.27% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in Midland States Bancorp by 10.1% in the 4th quarter. State Street Corp now owns 682,862 shares of the financial services provider’s stock worth $14,456,000 after buying an additional 62,874 shares during the period. Geode Capital Management LLC increased its stake in shares of Midland States Bancorp by 5.2% during the second quarter. Geode Capital Management LLC now owns 605,625 shares of the financial services provider’s stock valued at $10,491,000 after buying an additional 29,829 shares during the period. American Century Companies Inc. increased its stake in shares of Midland States Bancorp by 6.0% during the second quarter. American Century Companies Inc. now owns 543,869 shares of the financial services provider’s stock valued at $9,420,000 after buying an additional 30,733 shares during the period. AQR Capital Management LLC raised its holdings in shares of Midland States Bancorp by 38.1% during the second quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock valued at $9,370,000 after acquiring an additional 149,175 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Midland States Bancorp by 97.1% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider’s stock worth $5,046,000 after acquiring an additional 117,422 shares during the period. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.