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

StockNews.com upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a hold rating to a buy rating in a research note released on Tuesday.

Several other research analysts have also issued reports on the stock. Piper Sandler raised their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday. Keefe, Bruyette & Woods reduced their price objective on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday, July 29th.

Midland States Bancorp Stock Performance

MSBI stock opened at $24.65 on Tuesday. The company has a 50 day moving average price of $22.52 and a 200 day moving average price of $22.74. Midland States Bancorp has a fifty-two week low of $20.54 and a fifty-two week high of $28.47. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $527.26 million, a PE ratio of 10.67 and a beta of 0.75.

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. The business had revenue of $124.17 million for the quarter, compared to analyst estimates of $72.90 million. Midland States Bancorp had a return on equity of 9.00% and a net margin of 12.13%. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Analysts forecast that Midland States Bancorp will post 2 EPS for the current year.

Midland States Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.24 annualized dividend and a dividend yield of 5.03%. Midland States Bancorp’s payout ratio is currently 53.68%.

Insider Activity

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the transaction, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Midland States Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its position in shares of Midland States Bancorp by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider’s stock valued at $761,000 after buying an additional 683 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Midland States Bancorp in the first quarter worth about $42,000. US Bancorp DE raised its position in shares of Midland States Bancorp by 141.6% during the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 2,229 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of Midland States Bancorp by 8.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 28,461 shares of the financial services provider’s stock valued at $637,000 after purchasing an additional 2,295 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Midland States Bancorp by 9.9% in the 2nd quarter. Hsbc Holdings PLC now owns 28,562 shares of the financial services provider’s stock valued at $652,000 after purchasing an additional 2,562 shares during the period. 60.93% of the stock is owned by 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.