Midland States Bancorp, Inc. (MSBI) Given “Buy” Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their buy rating on shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) in a research report sent to investors on Thursday morning. Keefe, Bruyette & Woods currently has a $42.00 price objective on the financial services provider’s stock.

Separately, Zacks Investment Research raised Midland States Bancorp from a sell rating to a hold rating in a research note on Tuesday, October 3rd.

Shares of Midland States Bancorp (MSBI) traded up 0.14% on Thursday, reaching $35.75. The company had a trading volume of 80,134 shares. The company has a 50-day moving average price of $32.11 and a 200-day moving average price of $32.91. The firm has a market cap of $682.65 million, a P/E ratio of 18.60 and a beta of 2.37. Midland States Bancorp has a one year low of $24.70 and a one year high of $37.58.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.07). The firm had revenue of $43.02 million during the quarter, compared to analyst estimates of $45.60 million. Midland States Bancorp had a net margin of 15.60% and a return on equity of 10.65%. On average, analysts expect that Midland States Bancorp will post $1.90 earnings per share for the current fiscal year.

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In related news, Director John M. Schultz sold 2,000 shares of Midland States Bancorp stock in a transaction on Friday, September 1st. The stock was sold at an average price of $30.68, for a total transaction of $61,360.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have purchased 1,455 shares of company stock valued at $44,107 and have sold 6,000 shares valued at $188,400. 14.90% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in the stock. Blair William & Co. IL grew its stake in shares of Midland States Bancorp by 0.9% during the second quarter. Blair William & Co. IL now owns 6,629 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 60 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of Midland States Bancorp by 2.0% during the first quarter. Parametric Portfolio Associates LLC now owns 11,814 shares of the financial services provider’s stock worth $406,000 after purchasing an additional 236 shares during the period. Alliancebernstein L.P. grew its stake in shares of Midland States Bancorp by 20.0% during the second quarter. Alliancebernstein L.P. now owns 10,800 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 1,800 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Midland States Bancorp by 7.6% during the second quarter. Russell Investments Group Ltd. now owns 25,702 shares of the financial services provider’s stock worth $862,000 after purchasing an additional 1,811 shares during the period. Finally, Federated Investors Inc. PA grew its stake in shares of Midland States Bancorp by 4.8% during the second quarter. Federated Investors Inc. PA now owns 40,738 shares of the financial services provider’s stock worth $1,366,000 after purchasing an additional 1,848 shares during the period. 46.55% of the stock is owned by institutional investors and hedge funds.

About Midland States Bancorp

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