Midland States Bancorp (NASDAQ:MSBI) Price Target Lowered to $24.50 at Piper Sandler

Midland States Bancorp (NASDAQ:MSBI) had its price objective lowered by Piper Sandler from $26.00 to $24.50 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target suggests a potential upside of 8.89% from the stock’s previous close.

Midland States Bancorp Stock Up 0.6 %

MSBI stock opened at $22.50 on Tuesday. Midland States Bancorp has a fifty-two week low of $17.98 and a fifty-two week high of $28.47. The company has a market capitalization of $491.63 million, a price-to-earnings ratio of 7.65 and a beta of 0.77. The business’s 50 day moving average price is $24.05 and its two-hundred day moving average price is $24.42. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.96 and a current ratio of 0.96.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. The company had revenue of $122.86 million during the quarter, compared to the consensus estimate of $75.05 million. During the same period in the prior year, the firm earned $0.88 earnings per share. As a group, analysts forecast that Midland States Bancorp will post 2.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Midland States Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in shares of Midland States Bancorp by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,371,940 shares of the financial services provider’s stock valued at $37,811,000 after purchasing an additional 37,813 shares during the period. Vanguard Group Inc. grew its position in Midland States Bancorp by 0.6% during the third quarter. Vanguard Group Inc. now owns 1,110,782 shares of the financial services provider’s stock valued at $22,815,000 after buying an additional 7,132 shares during the period. AQR Capital Management LLC raised its position in Midland States Bancorp by 27.5% in the third quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock worth $5,147,000 after acquiring an additional 54,090 shares during the period. American Century Companies Inc. grew its position in shares of Midland States Bancorp by 11.3% during the 3rd quarter. American Century Companies Inc. now owns 239,352 shares of the financial services provider’s stock valued at $4,916,000 after acquiring an additional 24,320 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Midland States Bancorp by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 186,258 shares of the financial services provider’s stock valued at $3,826,000 after purchasing an additional 3,154 shares during the period. Hedge funds and other institutional investors own 60.93% of the company’s stock.

About Midland States Bancorp

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.