Midland States Bancorp (NASDAQ:MSBI) Stock Rating Upgraded by StockNews.com

Midland States Bancorp (NASDAQ:MSBI) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

Several other research firms have also recently weighed in on MSBI. Piper Sandler increased their price objective on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods reduced their price target on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, July 29th.

Midland States Bancorp Trading Up 0.0 %

NASDAQ:MSBI opened at $26.71 on Thursday. The company’s 50 day moving average is $23.53 and its 200-day moving average is $23.01. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. Midland States Bancorp has a 12 month low of $20.54 and a 12 month high of $28.47. The firm has a market cap of $571.59 million, a price-to-earnings ratio of 11.56 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. The company had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. During the same period last year, the business posted $0.78 earnings per share. Equities analysts anticipate that Midland States Bancorp will post 2.16 EPS for the current year.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the sale, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at approximately $8,433,286.20. The trade was a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd bought a new stake in Midland States Bancorp in the third quarter valued at $31,000. EntryPoint Capital LLC acquired a new stake in shares of Midland States Bancorp in the 1st quarter valued at $42,000. Point72 Asset Management L.P. acquired a new stake in shares of Midland States Bancorp in the 3rd quarter valued at $45,000. Quantbot Technologies LP lifted its holdings in Midland States Bancorp by 25.8% during the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 507 shares during the last quarter. Finally, US Bancorp DE boosted its position in Midland States Bancorp by 141.6% in the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after buying an additional 2,229 shares in the last quarter. 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.