Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives $23.90 Consensus PT from Analysts

Midland States Bancorp, Inc. (NASDAQ:MSBI) has received a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com 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 1 year price objective among analysts that have issued a report on the stock in the last year is $23.90.

Several equities research analysts have recently commented on MSBI shares. Weiss Ratings upgraded shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. DA Davidson lifted their price objective on shares of 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 shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Wall Street Zen lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Finally, Piper Sandler boosted their price objective on shares of Midland States Bancorp from $25.50 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th.

Midland States Bancorp Stock Up 0.3%

Shares of NASDAQ:MSBI opened at $29.58 on Wednesday. Midland States Bancorp has a one year low of $14.24 and a one year high of $30.34. The company has a 50 day moving average of $26.55 and a 200-day moving average of $23.46. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market cap of $613.19 million, a price-to-earnings ratio of 25.07 and a beta of 0.67.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.60 by $0.19. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.55%. The company had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $75.59 million. On average, sell-side analysts forecast that Midland States Bancorp will post 3.17 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Friday, May 15th. Midland States Bancorp’s payout ratio is presently 108.47%.

Midland States Bancorp declared that its Board of Directors has authorized a share buyback program on Wednesday, May 6th that permits the company to buyback $45.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Travis Franklin bought 9,400 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average cost of $26.49 per share, for a total transaction of $249,006.00. Following the completion of the acquisition, the director owned 9,400 shares in the company, valued at approximately $249,006. This represents a ? increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 8.57% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Amundi increased its holdings in shares of Midland States Bancorp by 39.4% in the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 620 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Midland States Bancorp by 33.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 503 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Midland States Bancorp in the third quarter valued at $46,000. Quadrant Capital Group LLC boosted its position in shares of Midland States Bancorp by 302.7% in the fourth quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 3,457 shares during the period. Finally, Daytona Street Capital LLC bought a new stake in shares of Midland States Bancorp in the fourth quarter valued at about $107,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

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.