Midland States Bancorp Inc (MSBI) Forecasted to Earn Q4 2018 Earnings of $0.64 Per Share

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Midland States Bancorp Inc (NASDAQ:MSBI) – DA Davidson decreased their Q4 2018 earnings per share estimates for Midland States Bancorp in a report released on Wednesday, January 9th. DA Davidson analyst K. Reevey now anticipates that the financial services provider will post earnings per share of $0.64 for the quarter, down from their prior estimate of $0.69. DA Davidson also issued estimates for Midland States Bancorp’s Q1 2019 earnings at $0.67 EPS, Q2 2019 earnings at $0.68 EPS, Q3 2019 earnings at $0.73 EPS, Q4 2019 earnings at $0.74 EPS, FY2019 earnings at $2.82 EPS and FY2020 earnings at $3.04 EPS.

Other analysts have also issued reports about the stock. Stephens reiterated a “buy” rating and issued a $27.00 price target on shares of Midland States Bancorp in a research note on Wednesday, December 19th. Zacks Investment Research upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Wednesday, November 7th. BidaskClub upgraded shares of Midland States Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 25th. Finally, ValuEngine lowered shares of Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, October 12th.

Shares of MSBI stock opened at $23.18 on Friday. Midland States Bancorp has a 52 week low of $19.56 and a 52 week high of $36.06. The company has a market capitalization of $550.90 million, a PE ratio of 11.65, a P/E/G ratio of 1.19 and a beta of 1.38. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.03 and a quick ratio of 1.03.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Friday, October 26th. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Midland States Bancorp had a net margin of 9.27% and a return on equity of 9.01%. The firm had revenue of $63.35 million during the quarter, compared to analyst estimates of $66.90 million.

A number of hedge funds and other institutional investors have recently made changes to their positions in MSBI. Zebra Capital Management LLC bought a new stake in Midland States Bancorp during the second quarter valued at approximately $235,000. Metropolitan Life Insurance Co. NY grew its position in Midland States Bancorp by 32.1% during the second quarter. Metropolitan Life Insurance Co. NY now owns 7,086 shares of the financial services provider’s stock valued at $243,000 after buying an additional 1,723 shares during the period. Associated Banc Corp bought a new stake in Midland States Bancorp during the third quarter valued at approximately $331,000. MetLife Investment Advisors LLC grew its position in Midland States Bancorp by 33.4% during the second quarter. MetLife Investment Advisors LLC now owns 10,034 shares of the financial services provider’s stock valued at $344,000 after buying an additional 2,513 shares during the period. Finally, Credit Suisse AG grew its position in Midland States Bancorp by 24.1% during the third quarter. Credit Suisse AG now owns 15,092 shares of the financial services provider’s stock valued at $484,000 after buying an additional 2,931 shares during the period. Institutional investors own 44.97% of the company’s stock.

In related news, Director John M. Schultz sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $29.09, for a total transaction of $58,180.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leon J. Holschbach sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $25.56, for a total transaction of $153,360.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 5,428 shares of company stock valued at $123,553 and have sold 49,586 shares valued at $1,197,499. Insiders own 9.20% of the company’s stock.

About Midland States Bancorp

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides banking and financial products and services to individuals, businesses, municipalities, and other entities. The company's deposit products include checking, savings, money market, and sweep accounts, as well as certificates of deposits, noninterest-bearing and interest-bearing demand deposits, and time deposits.

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