Midland States Bancorp Inc (MSBI) Given $39.00 Average Target Price by Analysts

Shares of Midland States Bancorp Inc (NASDAQ:MSBI) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus price target of $39.00 for the company and are anticipating that the company will post $0.59 EPS for the current quarter, according to Zacks. Zacks has also given Midland States Bancorp an industry rank of 16 out of 265 based on the ratings given to its competitors.

A number of brokerages recently issued reports on MSBI. Zacks Investment Research upgraded Midland States Bancorp from a “sell” rating to a “buy” rating and set a $38.00 target price on the stock in a report on Saturday. BidaskClub upgraded Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $42.00 target price on shares of Midland States Bancorp in a report on Thursday, October 19th.

In other Midland States Bancorp news, Director Robert F. Schultz sold 2,000 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $31.17, for a total transaction of $62,340.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 10,000 shares of company stock worth $325,500. Company insiders own 14.90% of the company’s stock.

Large investors have recently modified their holdings of the business. Meeder Asset Management Inc. lifted its stake in Midland States Bancorp by 279.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,158 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 2,326 shares in the last quarter. Legal & General Group Plc lifted its stake in Midland States Bancorp by 581.8% during the 2nd quarter. Legal & General Group Plc now owns 3,941 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 3,363 shares in the last quarter. SG Americas Securities LLC bought a new position in Midland States Bancorp during the 3rd quarter valued at $184,000. Susquehanna International Group LLP bought a new position in Midland States Bancorp during the 2nd quarter valued at $209,000. Finally, Voya Investment Management LLC bought a new position in Midland States Bancorp during the 2nd quarter valued at $225,000. Institutional investors and hedge funds own 45.61% of the company’s stock.

Shares of Midland States Bancorp (MSBI) traded up $0.60 on Friday, hitting $34.20. The company had a trading volume of 54,838 shares, compared to its average volume of 49,124. Midland States Bancorp has a 12 month low of $28.70 and a 12 month high of $36.50. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 1.32. The company has a market cap of $653.18 and a PE ratio of 23.42.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.09). Midland States Bancorp had a return on equity of 10.22% and a net margin of 11.90%. The firm had revenue of $52.17 million during the quarter, compared to the consensus estimate of $55.20 million. analysts anticipate that Midland States Bancorp will post 1.38 earnings per share for the current fiscal year.

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Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a diversified financial holding company. The Company’s banking subsidiary is Midland States Bank (the Bank). The Company’s principal business activity has been lending to and accepting deposits from individuals, businesses, municipalities and other entities. The Company’s segments include Banking, which provides a range of financial products and services to consumers and businesses, including loan products; commercial equipment leasing; mortgage loan sales and servicing; letters of credit; various types of deposit products, including checking, savings and time deposit accounts; merchant services, and corporate treasury management services; Commercial Federal Housing Administration (FHA) Origination and Servicing, which provides for the origination and servicing of government sponsored mortgages for multifamily and healthcare facilities, and Other, which includes the operating results of the Company and its wealth management business unit.

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