Zacks Investment Research cut shares of Midland States Bancorp (NASDAQ:MSBI) from a buy rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “Midland States Bancorp, Inc. is a financial and bank holding company. It provides commercial and consumer banking products and services, merchant credit card services, trust and investment management, insurance and financial planning services. The company also offers commercial equipment leasing services which provided through Heartland Business Credit and multi-family and healthcare facility FHA financing is provided through Love Funding, Midland’s non-bank subsidiaries. Midland States Bancorp, Inc. is headquartered in Effingham, Illinois. “
Several other analysts also recently commented on the stock. BidaskClub upgraded shares of Midland States Bancorp from a sell rating to a hold rating in a report on Saturday, February 10th. ValuEngine downgraded shares of Midland States Bancorp from a buy rating to a hold rating in a report on Friday, February 2nd.
Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.17). The company had revenue of $50.03 million for the quarter, compared to analyst estimates of $54.10 million. Midland States Bancorp had a return on equity of 8.71% and a net margin of 7.56%. sell-side analysts forecast that Midland States Bancorp will post 2.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 16th were issued a $0.22 dividend. The ex-dividend date was Thursday, February 15th. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.71%. Midland States Bancorp’s dividend payout ratio (DPR) is 95.65%.
In other news, EVP Jeffrey S. Mefford sold 3,260 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $31.70, for a total value of $103,342.00. Following the sale, the executive vice president now directly owns 21,868 shares in the company, valued at $693,215.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John M. Schultz sold 2,000 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $33.85, for a total transaction of $67,700.00. The disclosure for this sale can be found here. Insiders sold 13,260 shares of company stock worth $424,162 over the last quarter. 14.90% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in shares of Midland States Bancorp in the third quarter valued at approximately $184,000. Voya Investment Management LLC acquired a new stake in shares of Midland States Bancorp in the second quarter valued at approximately $225,000. MetLife Investment Advisors LLC acquired a new stake in shares of Midland States Bancorp in the fourth quarter valued at approximately $244,000. California Public Employees Retirement System acquired a new stake in shares of Midland States Bancorp in the second quarter valued at approximately $311,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Midland States Bancorp in the third quarter valued at approximately $294,000. Institutional investors own 47.39% of the company’s stock.
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About Midland States Bancorp
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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