Midland States Bancorp (NASDAQ:MSBI) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

A number of other equities research analysts have also commented on the stock. Wall Street Zen upgraded shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. DA Davidson upped their price target on shares of Midland States Bancorp from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Monday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Midland States Bancorp in a report on Friday, March 27th. UBS Group set a $25.50 price target on shares of Midland States Bancorp in a report on Monday, January 26th. Finally, Piper Sandler upped their price target on shares of Midland States Bancorp from $25.50 to $28.00 and gave the company a “neutral” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $23.90.

Midland States Bancorp Price Performance

Shares of Midland States Bancorp stock opened at $25.61 on Tuesday. Midland States Bancorp has a 52-week low of $14.24 and a 52-week high of $26.61. The stock has a market capitalization of $549.74 million, a price-to-earnings ratio of 21.70 and a beta of 0.57. The company has a fifty day moving average of $22.72 and a 200-day moving average of $20.75. 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 (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.45%. The company had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $75.59 million. Equities research analysts expect that Midland States Bancorp will post 2.54 EPS for the current year.

Midland States Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 13th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Friday, February 13th. Midland States Bancorp’s dividend payout ratio is currently 108.47%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised 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 purchasing an additional 62,874 shares in the last quarter. AQR Capital Management LLC raised its holdings in Midland States Bancorp by 38.1% in the 2nd quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock worth $9,370,000 after purchasing an additional 149,175 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Midland States Bancorp by 97.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider’s stock worth $5,046,000 after purchasing an additional 117,422 shares in the last quarter. Bank of America Corp DE raised its holdings in Midland States Bancorp by 9.0% in the 3rd quarter. Bank of America Corp DE now owns 211,795 shares of the financial services provider’s stock worth $3,630,000 after purchasing an additional 17,442 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Midland States Bancorp by 10.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 174,098 shares of the financial services provider’s stock worth $3,686,000 after purchasing an additional 16,301 shares in the last quarter. 60.93% of the stock is currently owned by institutional investors.

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.