Midland States Bancorp (NASDAQ:MSBI) Sets New 1-Year High – What’s Next?

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) reached a new 52-week high during trading on Wednesday . The company traded as high as $31.54 and last traded at $31.2940, with a volume of 12483 shares changing hands. The stock had previously closed at $31.14.

Analyst Ratings Changes

MSBI has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th. DA Davidson raised 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. Wall Street Zen cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. 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. Finally, Piper Sandler increased their target price on Midland States Bancorp from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Midland States Bancorp has a consensus rating of “Hold” and an average price target of $24.70.

Midland States Bancorp Trading Up 1.6%

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 company has a 50 day simple moving average of $27.82 and a two-hundred day simple moving average of $24.28. The company has a market cap of $655.59 million, a PE ratio of 26.79 and a beta of 0.67.

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

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 15th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 4.0%. The ex-dividend date was Friday, May 15th. Midland States Bancorp’s dividend payout ratio is currently 108.47%.

Midland States Bancorp declared that its board has authorized a stock buyback plan on Wednesday, May 6th that authorizes the company to repurchase $45.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Midland States Bancorp

In other news, Director Travis Franklin bought 9,400 shares of the stock in a transaction on Tuesday, May 5th. The shares were purchased at an average price of $26.49 per share, for a total transaction of $249,006.00. Following the completion of the purchase, the director directly owned 9,400 shares of the company’s stock, valued at $249,006. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.57% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Large investors have recently made changes to their positions in the company. Amundi increased its holdings in Midland States Bancorp by 39.4% in the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after buying an additional 620 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in 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 worth $43,000 after acquiring an additional 503 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in Midland States Bancorp in the third quarter worth approximately $46,000. Quadrant Capital Group LLC increased its stake in shares of Midland States Bancorp by 302.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 3,457 shares during the last quarter. Finally, Daytona Street Capital LLC acquired a new position in shares of Midland States Bancorp during the 4th quarter worth $107,000. Institutional investors own 60.93% of the company’s stock.

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.