Midland States Bancorp Inc (NASDAQ:MSBI) has earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.
Brokers have set a one year consensus target price of $38.50 for the company and are expecting that the company will post $0.45 earnings per share for the current quarter, according to Zacks. Zacks has also given Midland States Bancorp an industry rank of 167 out of 265 based on the ratings given to its competitors.
Several equities research analysts recently commented on MSBI shares. BidaskClub raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, December 7th. Zacks Investment Research raised shares of Midland States Bancorp from a “sell” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Saturday, January 13th. Finally, ValuEngine lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MSBI. Northpointe Capital LLC raised its holdings in shares of Midland States Bancorp by 101.6% during the fourth quarter. Northpointe Capital LLC now owns 507,800 shares of the financial services provider’s stock valued at $16,493,000 after purchasing an additional 255,865 shares during the last quarter. State Street Corp raised its holdings in shares of Midland States Bancorp by 367.7% during the second quarter. State Street Corp now owns 246,679 shares of the financial services provider’s stock valued at $8,270,000 after purchasing an additional 193,932 shares during the last quarter. Maltese Capital Management LLC purchased a new position in shares of Midland States Bancorp during the third quarter valued at approximately $6,019,000. Endeavour Capital Advisors Inc. raised its holdings in shares of Midland States Bancorp by 24.2% during the fourth quarter. Endeavour Capital Advisors Inc. now owns 866,792 shares of the financial services provider’s stock valued at $28,153,000 after purchasing an additional 168,905 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in shares of Midland States Bancorp during the third quarter valued at approximately $3,248,000. 38.19% of the stock is owned by hedge funds and other institutional investors.
Shares of MSBI stock opened at $31.53 on Friday. Midland States Bancorp has a 52 week low of $28.70 and a 52 week high of $36.50. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.06. The company has a market cap of $783.38, a PE ratio of 34.27, a P/E/G ratio of 1.85 and a beta of 1.12.
Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data 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). Midland States Bancorp had a return on equity of 8.71% and a net margin of 7.56%. The business had revenue of $50.03 million for the quarter, compared to the consensus estimate of $54.10 million. analysts expect that Midland States Bancorp will post 2.55 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 16th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 2.79%. Midland States Bancorp’s payout ratio is 95.65%.
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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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