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

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

A number of other research analysts have also issued reports on MSBI. Keefe, Bruyette & Woods upped their target price on shares of Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler boosted their price objective on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th.

Midland States Bancorp Trading Up 4.5 %

Shares of MSBI opened at $24.02 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. Midland States Bancorp has a 1-year low of $20.54 and a 1-year high of $28.10. The stock has a market cap of $514.05 million, a price-to-earnings ratio of 10.40 and a beta of 0.76. The firm has a 50 day simple moving average of $25.72 and a 200-day simple moving average of $23.85.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $124.17 million for the quarter, compared to analysts’ expectations of $72.90 million. During the same quarter in the prior year, the firm earned $0.78 EPS. Equities analysts forecast that Midland States Bancorp will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Midland States Bancorp

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value 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. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Midland States Bancorp

A number of large investors have recently bought and sold shares of MSBI. Quantbot Technologies LP increased its holdings in shares of 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 worth $55,000 after buying an additional 507 shares during the last quarter. Rhumbline Advisers grew its position in Midland States Bancorp by 2.1% during the second quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider’s stock valued at $761,000 after acquiring an additional 683 shares during the period. Point72 DIFC Ltd acquired a new stake in Midland States Bancorp during the third quarter worth about $31,000. Point72 Asset Management L.P. acquired a new stake in Midland States Bancorp during the third quarter worth about $45,000. Finally, US Bancorp DE raised its holdings in shares of Midland States Bancorp by 141.6% in the 3rd 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. 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.