Midland States Bancorp (NASDAQ:MSBI) Share Price Crosses Above 50 Day Moving Average – Time to Sell?

Midland States Bancorp, Inc. (NASDAQ:MSBI)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $26.78 and traded as high as $29.85. Midland States Bancorp shares last traded at $29.43, with a volume of 291,269 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. DA Davidson boosted their price target on Midland States Bancorp from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Wall Street Zen lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Piper Sandler lifted their price objective on Midland States Bancorp from $25.50 to $28.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Weiss Ratings raised Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Midland States Bancorp currently has a consensus rating of “Hold” and an average target price of $23.90.

Midland States Bancorp Stock Performance

The company has a market capitalization of $610.08 million, a price-to-earnings ratio of 24.94 and a beta of 0.67. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The company’s fifty day simple moving average is $26.78 and its two-hundred day simple moving average is $23.65.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.19. The company had revenue of $81.10 million during the quarter, compared to the consensus estimate of $75.59 million. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.55%. Equities research analysts predict that Midland States Bancorp, Inc. will post 3.17 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 15th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Friday, May 15th. Midland States Bancorp’s payout ratio is currently 108.47%.

Midland States Bancorp announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 6th that permits the company to repurchase $45.00 million in shares. This repurchase authorization permits the financial services provider to repurchase up to 8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Midland States Bancorp

In other news, Director Travis Franklin bought 9,400 shares of Midland States Bancorp stock in a transaction on Tuesday, May 5th. The shares were bought at an average price of $26.49 per share, with a total value of $249,006.00. Following the acquisition, the director directly owned 9,400 shares in the company, valued at approximately $249,006. This represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Midland States Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in MSBI. State Street Corp lifted its stake in Midland States Bancorp by 10.1% during the fourth 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 during the last quarter. AQR Capital Management LLC increased its stake in 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 purchasing an additional 149,175 shares during the last quarter. Patriot Financial Partners GP II L.P. bought a new stake in Midland States Bancorp during the first quarter valued at $9,783,000. Rhino Investment Partners Inc raised its holdings in shares of Midland States Bancorp by 22.5% during the first quarter. Rhino Investment Partners Inc now owns 320,288 shares of the financial services provider’s stock worth $7,146,000 after purchasing an additional 58,754 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Midland States Bancorp by 97.1% during 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 purchasing an additional 117,422 shares during the period. 60.93% of the stock is owned by institutional investors and hedge funds.

About Midland States Bancorp

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.