Midland States Bancorp (NASDAQ:MSBI) Price Target Cut to $23.00 by Analysts at Keefe, Bruyette & Woods

Midland States Bancorp (NASDAQ:MSBIFree Report) had its price objective lowered by Keefe, Bruyette & Woods from $28.00 to $23.00 in a research report report published on Monday,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

MSBI has been the subject of several other research reports. Piper Sandler increased their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. StockNews.com cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday.

Read Our Latest Analysis on Midland States Bancorp

Midland States Bancorp Stock Performance

Shares of MSBI opened at $20.07 on Monday. Midland States Bancorp has a 12 month low of $19.51 and a 12 month high of $28.10. The firm has a fifty day simple moving average of $25.12 and a 200 day simple moving average of $23.91. The stock has a market capitalization of $429.50 million, a price-to-earnings ratio of 8.69 and a beta of 0.76. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79.

Midland States Bancorp (NASDAQ:MSBIGet Free Report) last announced its earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) EPS for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. Research analysts forecast that Midland States Bancorp will post 2.16 EPS for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 6.18%. The ex-dividend date of this dividend was Monday, November 18th. Midland States Bancorp’s dividend payout ratio is currently 53.68%.

Institutional Trading of Midland States Bancorp

Large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its position in shares of Midland States Bancorp by 9.9% in the second 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. Thrivent Financial for Lutherans raised its position in shares of Midland States Bancorp by 6.1% in the second quarter. Thrivent Financial for Lutherans now owns 68,640 shares of the financial services provider’s stock valued at $1,554,000 after purchasing an additional 3,976 shares during the period. Bank of Montreal Can bought a new position in shares of Midland States Bancorp in the second quarter valued at about $1,350,000. Squarepoint Ops LLC bought a new position in shares of Midland States Bancorp in the second quarter valued at about $248,000. Finally, SG Americas Securities LLC raised its position in shares of Midland States Bancorp by 47.5% in the third quarter. SG Americas Securities LLC now owns 14,214 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 4,576 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.

About Midland States Bancorp

(Get Free Report)

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.

Further Reading

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