Midland States Bancorp (NASDAQ:MSBI) Cut to Hold at StockNews.com

Midland States Bancorp (NASDAQ:MSBI) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods dropped their price target 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. Piper Sandler lifted 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 report on Tuesday, October 29th.

Midland States Bancorp Price Performance

NASDAQ:MSBI opened at $27.39 on Friday. 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 firm has a market cap of $586.15 million, a price-to-earnings ratio of 11.86 and a beta of 0.74. The company has a 50 day moving average price of $23.98 and a 200-day moving average price of $23.13. Midland States Bancorp has a 1-year low of $20.54 and a 1-year high of $28.47.

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

Insider Activity at Midland States Bancorp

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction dated 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 directly owns 343,935 shares in the company, 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 legal filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC acquired a new position in Midland States Bancorp during the third quarter worth $5,764,000. Bank of Montreal Can purchased a new position in shares of Midland States Bancorp during the 2nd quarter worth $1,350,000. American Century Companies Inc. boosted its position in shares of Midland States Bancorp by 16.0% during the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after acquiring an additional 55,555 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Midland States Bancorp in the first quarter valued at about $1,106,000. Finally, Barclays PLC increased its position in Midland States Bancorp by 55.2% during the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock worth $1,463,000 after purchasing an additional 23,242 shares during the last quarter. 60.93% of the stock is owned by hedge funds and other 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.