Midland States Bancorp (NASDAQ:MSBI) Price Target Lowered to $23.00 at Piper Sandler

Midland States Bancorp (NASDAQ:MSBIGet Free Report) had its price objective dropped by Piper Sandler from $28.50 to $23.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 16.93% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods dropped their price objective on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a report on Monday. Five analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.50.

View Our Latest Stock Report on MSBI

Midland States Bancorp Price Performance

Midland States Bancorp stock opened at $19.67 on Tuesday. The business has a 50 day simple moving average of $24.84 and a 200-day simple moving average of $23.86. Midland States Bancorp has a 12 month low of $18.75 and a 12 month high of $28.10. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $420.96 million, a PE ratio of 8.52 and a beta of 0.76.

Midland States Bancorp (NASDAQ:MSBIGet Free Report) last released 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%. Equities analysts predict that Midland States Bancorp will post 2.16 earnings per share for the current year.

Institutional Trading of Midland States Bancorp

Institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in shares of Midland States Bancorp by 2.5% during the 3rd quarter. State Street Corp now owns 587,947 shares of the financial services provider’s stock worth $13,158,000 after buying an additional 14,157 shares during the last quarter. Geode Capital Management LLC raised its position in Midland States Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock worth $11,460,000 after acquiring an additional 2,294 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Midland States Bancorp in the third quarter valued at about $5,764,000. JPMorgan Chase & Co. grew its position in shares of Midland States Bancorp by 52.3% in the third quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock valued at $2,469,000 after purchasing an additional 37,889 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Midland States Bancorp by 31.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock worth $1,996,000 after purchasing an additional 21,416 shares in the last quarter. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

About Midland States Bancorp

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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.

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