Midland States Bancorp (NASDAQ:MSBI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Midland States Bancorp (NASDAQ:MSBI) from a buy rating to a hold rating in a research report report published on Friday.

Several other research firms have also issued reports on MSBI. Keefe, Bruyette & Woods cut their target price on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday, July 29th. Piper Sandler boosted their price target on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th.

Midland States Bancorp Price Performance

MSBI opened at $27.41 on Friday. The business’s 50-day moving average is $23.98 and its two-hundred day moving average is $23.12. Midland States Bancorp has a 1 year low of $20.54 and a 1 year high of $28.47. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $586.57 million, a PE ratio of 11.99 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. The company had revenue of $124.17 million for the quarter, compared to analyst estimates of $72.90 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Research analysts anticipate that Midland States Bancorp will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.52%. Midland States Bancorp’s payout ratio is 53.68%.

Insider Transactions at Midland States Bancorp

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total value of $312,703.56. Following the sale, the chief executive officer now owns 343,935 shares in the company, valued at $8,433,286.20. This represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

A number of large investors have recently bought and sold shares of the company. Barclays PLC boosted its position in Midland States Bancorp by 55.2% in the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock valued at $1,463,000 after buying an additional 23,242 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Midland States Bancorp by 0.5% in the third quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock valued at $11,460,000 after acquiring an additional 2,294 shares during the period. Jane Street Group LLC lifted its holdings in Midland States Bancorp by 15.5% in the third quarter. Jane Street Group LLC now owns 24,534 shares of the financial services provider’s stock valued at $549,000 after acquiring an additional 3,300 shares during the period. State Street Corp lifted its holdings in Midland States Bancorp by 2.5% in the third quarter. State Street Corp now owns 587,947 shares of the financial services provider’s stock valued at $13,158,000 after acquiring an additional 14,157 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in Midland States Bancorp in the third quarter valued at approximately $31,000. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.