Midland States Bancorp (NASDAQ:MSBI) PT Lowered to $26.00

Midland States Bancorp (NASDAQ:MSBI) had its target price reduced by Keefe, Bruyette & Woods from $28.00 to $26.00 in a report released on Tuesday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Separately, Piper Sandler decreased their price target on shares of Midland States Bancorp from $26.00 to $24.50 and set a neutral rating for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Midland States Bancorp currently has an average rating of Hold and an average target price of $25.63.

Midland States Bancorp Stock Performance

Shares of MSBI stock opened at $23.75 on Tuesday. The firm has a 50 day moving average of $23.94 and a two-hundred day moving average of $24.44. The stock has a market capitalization of $518.94 million, a PE ratio of 8.08 and a beta of 0.79. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.91. Midland States Bancorp has a 52 week low of $17.98 and a 52 week high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last released 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 company had revenue of $122.86 million for the quarter, compared to analyst estimates of $75.05 million. Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. During the same period in the previous year, the firm earned $0.88 earnings per share. On average, research analysts predict that Midland States Bancorp will post 2.79 EPS 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 paid a dividend of $0.31 per share. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, February 15th. This represents a $1.24 annualized dividend and a yield of 5.22%. Midland States Bancorp’s payout ratio is presently 42.18%.

Hedge Funds Weigh In On Midland States Bancorp

Several hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in shares of Midland States Bancorp by 89.4% in the 3rd quarter. SG Americas Securities LLC now owns 13,542 shares of the financial services provider’s stock valued at $278,000 after buying an additional 6,393 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Midland States Bancorp by 1.7% during the third quarter. Bank of New York Mellon Corp now owns 186,258 shares of the financial services provider’s stock worth $3,826,000 after purchasing an additional 3,154 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Midland States Bancorp by 110.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,168 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 3,244 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Midland States Bancorp by 3.3% during the third quarter. New York State Common Retirement Fund now owns 47,674 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 1,508 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Midland States Bancorp in the 3rd quarter valued at about $244,000. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

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.