Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI – Get Free Report) have been assigned an average rating of “Hold” from the five brokerages that are currently covering the company, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $31.12.
A number of research analysts recently issued reports on MSBI shares. Keefe, Bruyette & Woods lifted their price target on shares of Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. DA Davidson upped their price objective on shares of Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Zacks Research downgraded shares of Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 25th. Piper Sandler raised their target price on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Finally, Wall Street Zen lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd.
Read Our Latest Stock Analysis on MSBI
Midland States Bancorp Stock Performance
Shares of MSBI stock opened at $32.22 on Tuesday. Midland States Bancorp has a 12 month low of $14.24 and a 12 month high of $35.10. The stock has a market cap of $668.63 million, a PE ratio of 20.65 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73. The company’s fifty day moving average price is $32.96 and its 200-day moving average price is $29.95.
Midland States Bancorp (NASDAQ:MSBI – Get Free Report) last released its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $83.74 million for the quarter, compared to the consensus estimate of $80.70 million. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. On average, equities analysts expect that Midland States Bancorp will post 3.43 EPS for the current fiscal year.
Midland States Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were paid a dividend of $0.33 per share. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.32 annualized dividend and a yield of 4.1%. Midland States Bancorp’s dividend payout ratio is 84.62%.
Insider Buying and Selling
In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 8,383 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total transaction of $285,022.00. Following the completion of the transaction, the chief executive officer owned 400,971 shares in the company, valued at $13,633,014. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Kyle Mooney sold 2,400 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $33.33, for a total value of $79,992.00. Following the sale, the chief operating officer directly owned 13,610 shares of the company’s stock, valued at $453,621.30. This represents a 14.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 12,470 shares of company stock worth $421,374. 8.57% of the stock is owned by insiders.
Institutional Trading of Midland States Bancorp
A number of large investors have recently modified their holdings of MSBI. BlackRock Inc. purchased a new position in shares of Midland States Bancorp during the second quarter valued at $90,950,000. Patriot Financial Partners GP II L.P. bought a new stake in shares of Midland States Bancorp in the 1st quarter valued at about $9,783,000. Bank of New York Mellon Corp bought a new stake in shares of Midland States Bancorp in the 2nd quarter valued at about $3,941,000. Bank of America Corp DE bought a new stake in shares of Midland States Bancorp in the 2nd quarter valued at about $3,545,000. Finally, Empowered Funds LLC purchased a new stake in shares of Midland States Bancorp in the 2nd quarter worth approximately $2,893,000. Hedge funds and other institutional investors own 60.93% of the company’s stock.
Midland States Bancorp Company Profile
Midland States Bancorp, Inc is a financial holding company headquartered in Effingham, Illinois. Through its principal subsidiary, Midland States Bank, the company provides banking and related financial services to consumers, businesses and institutions.
Midland States Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, consumer loans, treasury management and other business banking services. Its service offerings also include wealth management, trust and investment services, mortgage banking and equipment financing.
The company traces its banking operations to 1881 and serves customers primarily through a regional branch network and digital banking channels in the Midwest, with a significant presence in Illinois and additional operations in surrounding states.
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