Midland States Bancorp (NASDAQ:MSBI) PT Lowered to $26.00 at Keefe, Bruyette & Woods

Midland States Bancorp (NASDAQ:MSBI) had its target price decreased by Keefe, Bruyette & Woods from $28.00 to $26.00 in a research note published on Tuesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Separately, Piper Sandler reduced their target price on Midland States Bancorp from $26.00 to $24.50 and set a neutral rating for the company in a report on Tuesday. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $25.63.

Midland States Bancorp Stock Down 0.3 %

Shares of MSBI traded down $0.06 during mid-day trading on Tuesday, hitting $23.75. 119,153 shares of the company’s stock were exchanged, compared to its average volume of 61,034. The stock has a market cap of $518.94 million, a price-to-earnings ratio of 8.08 and a beta of 0.79. The firm has a fifty day moving average of $23.94 and a two-hundred day moving average of $24.44. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.91. Midland States Bancorp has a twelve month low of $17.98 and a twelve month high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate 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 business had revenue of $122.86 million for the quarter, compared to analyst estimates of $75.05 million. During the same period in the previous year, the company earned $0.88 earnings per share. On average, sell-side analysts forecast that Midland States Bancorp will post 2.79 earnings per share for the current year.

Midland States Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 16th were paid a $0.31 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.22%. Midland States Bancorp’s payout ratio is presently 42.18%.

Institutional Trading of Midland States Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in Midland States Bancorp by 27.5% in the 3rd quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock worth $5,147,000 after buying an additional 54,090 shares during the period. Vanguard Group Inc. boosted its holdings in Midland States Bancorp by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,110,782 shares of the financial services provider’s stock valued at $22,815,000 after purchasing an additional 7,132 shares during the period. American Century Companies Inc. boosted its holdings in Midland States Bancorp by 11.3% in 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 purchasing an additional 24,320 shares during the period. SG Americas Securities LLC grew its position in Midland States Bancorp by 89.4% in the 3rd quarter. SG Americas Securities LLC now owns 13,542 shares of the financial services provider’s stock worth $278,000 after purchasing an additional 6,393 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Midland States Bancorp by 1.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 186,258 shares of the financial services provider’s stock worth $3,826,000 after purchasing an additional 3,154 shares during the period. 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.