Midland States Bancorp, Inc. (NASDAQ:MSBI) Stock Now Rated “Hold” by Sell-Side Brokerages

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have been assigned an average rating of “Hold” from the five ratings firms that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $31.12.

Several analysts have issued reports on MSBI shares. Weiss Ratings upgraded Midland States Bancorp from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday. Keefe, Bruyette & Woods raised their target price on shares of Midland States Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. DA Davidson boosted their price target on shares of Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Wall Street Zen lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Piper Sandler upped their price target on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th.

Insider Buying and Selling at Midland States Bancorp

In related news, CEO Jeffrey G. Ludwig sold 8,383 shares of Midland States Bancorp stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total transaction of $285,022.00. Following the completion of the sale, the chief executive officer owned 400,971 shares of the company’s stock, valued at approximately $13,633,014. This trade represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Kyle Mooney sold 2,400 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $33.33, for a total value of $79,992.00. Following the completion of the transaction, the chief operating officer owned 13,610 shares in the company, valued at $453,621.30. This trade represents a 14.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 12,470 shares of company stock worth $421,374. 8.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC acquired a new stake in shares of Midland States Bancorp during the 2nd quarter valued at about $228,000. HighTower Advisors LLC raised its position in Midland States Bancorp by 58.1% during the second quarter. HighTower Advisors LLC now owns 19,515 shares of the financial services provider’s stock valued at $608,000 after acquiring an additional 7,169 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Midland States Bancorp by 18.8% in the second quarter. Hsbc Holdings PLC now owns 58,716 shares of the financial services provider’s stock valued at $1,820,000 after acquiring an additional 9,277 shares during the last quarter. Empowered Funds LLC acquired a new stake in Midland States Bancorp in the second quarter valued at approximately $2,893,000. Finally, Jefferies Financial Group Inc. acquired a new stake in Midland States Bancorp in the second quarter valued at approximately $710,000. 60.93% of the stock is owned by hedge funds and other institutional investors.

Midland States Bancorp Price Performance

NASDAQ MSBI opened at $33.13 on Friday. Midland States Bancorp has a 1 year low of $14.24 and a 1 year high of $35.10. The business’s fifty day moving average is $33.06 and its two-hundred day moving average is $28.73. The stock has a market capitalization of $687.45 million, a P/E ratio of 21.24 and a beta of 0.65. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.78 and a current ratio of 0.78.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%.The business had revenue of $83.74 million for the quarter, compared to analysts’ expectations of $80.70 million. On average, research analysts forecast that Midland States Bancorp will post 3.4 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were paid a dividend of $0.33 per share. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.0%. Midland States Bancorp’s dividend payout ratio (DPR) is 84.62%.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is the holding company for Midland States Bank, a community-focused financial institution headquartered in Effingham, Illinois. Founded in 1881, the bank serves individuals, families, businesses and agricultural customers through banking offices primarily across Illinois, Wisconsin and Ohio.

Midland States Bank offers a range of consumer and commercial banking products, including checking and savings accounts, certificates of deposit, residential mortgage lending, consumer loans, commercial real estate financing, business loans and agricultural lending.