Midland States Bancorp, Inc. (NASDAQ:MSBI) Stock Rated “Hold” by Wall Street Analysts

Midland States Bancorp, Inc. (NASDAQ:MSBI) has received an average recommendation of “Hold” from the six brokerages that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $32.50.

A number of research firms have commented on MSBI. Zacks Research cut shares of Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. Keefe, Bruyette & Woods increased their price objective on shares of Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Stephens lifted their price objective on shares of Midland States Bancorp from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 27th. Piper Sandler increased their price target on shares of Midland States Bancorp from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. Finally, Wall Street Zen upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Saturday.

Midland States Bancorp Stock Performance

Shares of Midland States Bancorp stock opened at $31.72 on Friday. Midland States Bancorp has a 52 week low of $15.06 and a 52 week high of $35.10. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.03. The company has a 50 day moving average price of $32.94 and a 200 day moving average price of $28.45. The firm has a market capitalization of $659.78 million, a P/E ratio of 13.97 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $86.14 million for the quarter, compared to analysts’ expectations of $83.77 million. Midland States Bancorp had a net margin of 12.80% and a return on equity of 17.13%. Sell-side analysts expect that Midland States Bancorp will post 3.44 EPS for the current year.

Midland States Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, November 13th. Midland States Bancorp’s dividend payout ratio is 58.15%.

Insider Transactions at Midland States Bancorp

In other news, COO Kyle Mooney sold 2,400 shares of Midland States Bancorp stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $33.33, for a total value of $79,992.00. Following the completion of the sale, the chief operating officer directly owned 13,610 shares of the company’s stock, valued at approximately $453,621.30. This trade represents a 14.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 4,087 shares of company stock worth $136,352 over the last 90 days. Insiders own 8.57% of the company’s stock.

Institutional Trading of Midland States Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new stake in Midland States Bancorp in the 3rd quarter valued at $25,000. Legal & General Group Plc purchased a new stake in shares of Midland States Bancorp in the second quarter valued at approximately $58,000. Ancora Advisors LLC purchased a new stake in Midland States Bancorp during the second quarter worth about $144,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Midland States Bancorp in the second quarter valued at about $228,000. Finally, Vise Technologies Inc. purchased a new stake in shares of Midland States Bancorp in the second quarter valued at $287,000. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a financial holding company headquartered in Effingham, Illinois. Through its principal subsidiary, Midland States Bank, the company provides banking, wealth management and specialty finance services to individuals, families and businesses.

Its banking operations offer deposit accounts, commercial and residential real estate loans, consumer lending, commercial and industrial financing, treasury management and other cash-management services. The company also provides wealth management, trust and investment services, as well as equipment financing and leasing solutions for business customers.

Founded in 1881, Midland States Bank serves communities primarily in Illinois, Wisconsin and Ohio through a network of banking offices and other channels.