Midland States Bancorp, Inc. (NASDAQ:MSBI) Stock Has Consensus Price Target of $31.12

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

MSBI has been the subject of several research analyst reports. DA Davidson lifted their target price on Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods increased their price target on Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings upgraded Midland States Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, October 12th. Wall Street Zen downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Zacks Research cut shares of Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th.

Midland States Bancorp Stock Down 1.3%

Shares of MSBI stock opened at $31.80 on Tuesday. Midland States Bancorp has a 52-week low of $14.24 and a 52-week high of $35.10. The stock has a market cap of $659.85 million, a price-to-earnings ratio of 13.54 and a beta of 0.66. The firm’s 50-day moving average is $32.93 and its 200-day moving average is $30.07. 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 posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The business had revenue of $83.74 million during the quarter, compared to analysts’ expectations of $80.70 million. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. Sell-side analysts predict that Midland States Bancorp will post 3.43 EPS for the current year.

Midland States Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were given a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 14th. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. Midland States Bancorp’s payout ratio is currently 84.62%.

Insider Transactions at Midland States Bancorp

In related news, CEO Jeffrey Ludwig sold 8,383 shares of Midland States Bancorp stock in a transaction dated Tuesday, July 28th. The shares were 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. The trade was a 2.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Kyle Mooney sold 2,400 shares of Midland States Bancorp stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $33.33, for a total transaction of $79,992.00. Following the sale, the chief operating officer directly owned 13,610 shares of the company’s stock, valued at $453,621.30. The trade was a 14.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 12,470 shares of company stock valued at $421,374. 8.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Midland States Bancorp

Several hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue bought a new position in shares of Midland States Bancorp in the 3rd quarter valued at $25,000. Legal & General Group Plc acquired a new position in shares of Midland States Bancorp during the 2nd quarter worth $58,000. Ancora Advisors LLC acquired a new position in shares of Midland States Bancorp during the 2nd quarter worth $144,000. Sequoia Financial Advisors LLC bought a new stake in shares of Midland States Bancorp during the 2nd quarter worth $228,000. Finally, Vise Technologies Inc. bought a new stake in shares of Midland States Bancorp during the 2nd quarter worth $287,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

About Midland States Bancorp

Midland States Bancorp, Inc is a financial holding company headquartered in Effingham, Illinois. Through its principal subsidiary, Midland States Bank, the company provides banking and related financial services to consumers, businesses and institutions.

Midland States Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, consumer loans, treasury management and other business banking services. Its service offerings also include wealth management, trust and investment services, mortgage banking and equipment financing.

The company traces its banking operations to 1881 and serves customers primarily through a regional branch network and digital banking channels in the Midwest, with a significant presence in Illinois and additional operations in surrounding states.