Analysts Set Midland States Bancorp, Inc. (NASDAQ:MSBI) Target Price at $23.90

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have received an average recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $23.90.

MSBI has been the subject of several recent research reports. Piper Sandler boosted their price target on Midland States Bancorp from $25.50 to $28.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Wall Street Zen raised Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. DA Davidson upped their price objective on Midland States Bancorp from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Zacks Research raised Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings raised Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 4th.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, Director Travis Franklin acquired 9,400 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was purchased at an average price of $26.49 per share, with a total value of $249,006.00. Following the completion of the purchase, the director directly owned 9,400 shares in the company, valued at approximately $249,006. The trade was a ? increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Midland States Bancorp

A number of hedge funds have recently made changes to their positions in the business. State Street Corp boosted its stake in Midland States Bancorp by 10.1% during the fourth quarter. State Street Corp now owns 682,862 shares of the financial services provider’s stock valued at $14,456,000 after buying an additional 62,874 shares during the last quarter. AQR Capital Management LLC boosted its stake in Midland States Bancorp by 38.1% during the second quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock valued at $9,370,000 after buying an additional 149,175 shares during the last quarter. Patriot Financial Partners GP II L.P. bought a new position in Midland States Bancorp during the first quarter valued at approximately $9,783,000. Rhino Investment Partners Inc boosted its stake in Midland States Bancorp by 22.5% during the first quarter. Rhino Investment Partners Inc now owns 320,288 shares of the financial services provider’s stock valued at $7,146,000 after buying an additional 58,754 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Midland States Bancorp by 97.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider’s stock valued at $5,046,000 after buying an additional 117,422 shares during the last quarter. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Stock Performance

NASDAQ:MSBI opened at $26.69 on Friday. The stock has a 50-day simple moving average of $23.70 and a two-hundred day simple moving average of $21.62. Midland States Bancorp has a 52-week low of $14.24 and a 52-week high of $28.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $553.28 million, a PE ratio of 22.62 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.19. Midland States Bancorp had a return on equity of 11.55% and a net margin of 7.53%.The business had revenue of $81.10 million during the quarter, compared to analyst estimates of $75.59 million. Analysts forecast that Midland States Bancorp will post 3.17 EPS for the current year.

Midland States Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.8%. Midland States Bancorp’s dividend payout ratio is 108.47%.

Midland States Bancorp declared that its board has authorized a share repurchase program on Wednesday, May 6th that allows the company to repurchase $45.00 million in shares. This repurchase authorization allows the financial services provider to reacquire up to 8% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

About Midland States Bancorp

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.