Midland States Bancorp (NASDAQ:MSBI) Price Target Cut to $24.50 by Analysts at Piper Sandler

Midland States Bancorp (NASDAQ:MSBI) had its price objective trimmed by Piper Sandler from $26.00 to $24.50 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

Midland States Bancorp Stock Performance

NASDAQ:MSBI opened at $21.90 on Tuesday. The firm has a market capitalization of $478.52 million, a PE ratio of 7.45 and a beta of 0.77. The business’s fifty day moving average price is $23.99 and its 200 day moving average price is $24.43. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.96 and a quick ratio of 0.96. Midland States Bancorp has a 12 month low of $17.98 and a 12 month high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.18). The business had revenue of $122.86 million during the quarter, compared to analysts’ expectations of $75.05 million. Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.56%. During the same period last year, the company earned $0.88 EPS. On average, sell-side analysts anticipate that Midland States Bancorp will post 2.94 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 16th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 5.66%. The ex-dividend date was Thursday, February 15th. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.30. Midland States Bancorp’s dividend payout ratio is 42.18%.

Hedge Funds Weigh In On Midland States Bancorp

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in Midland States Bancorp by 27.5% in the third quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock valued at $5,147,000 after acquiring an additional 54,090 shares in the last quarter. Vanguard Group Inc. boosted its stake in Midland States Bancorp by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,110,782 shares of the financial services provider’s stock valued at $22,815,000 after acquiring an additional 7,132 shares in the last quarter. American Century Companies Inc. boosted its stake in Midland States Bancorp by 11.3% in the third quarter. American Century Companies Inc. now owns 239,352 shares of the financial services provider’s stock valued at $4,916,000 after acquiring an additional 24,320 shares in the last quarter. SG Americas Securities LLC boosted its stake in Midland States Bancorp by 89.4% in the third quarter. SG Americas Securities LLC now owns 13,542 shares of the financial services provider’s stock valued at $278,000 after acquiring an additional 6,393 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Midland States Bancorp by 1.7% in the third quarter. Bank of New York Mellon Corp now owns 186,258 shares of the financial services provider’s stock valued at $3,826,000 after acquiring an additional 3,154 shares in the last quarter. Hedge funds and other institutional investors own 60.93% 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 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.