Midland States Bancorp (NASDAQ:MSBI) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Midland States Bancorp (NASDAQ:MSBI) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Several other equities analysts have also commented on MSBI. Piper Sandler raised their price objective on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted their price target on shares of Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Midland States Bancorp Price Performance

MSBI stock opened at $20.00 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. Midland States Bancorp has a 1 year low of $19.75 and a 1 year high of $28.10. The firm has a 50-day moving average of $25.24 and a 200 day moving average of $23.92. The company has a market cap of $428 million, a P/E ratio of 8.66 and a beta of 0.76.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (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%. On average, sell-side analysts forecast that Midland States Bancorp will post 2.16 EPS for the current year.

Midland States Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a $0.31 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.20%. Midland States Bancorp’s dividend payout ratio is currently 53.68%.

Insider Activity

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the sale, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Midland States Bancorp

Several institutional investors have recently added to or reduced their stakes in MSBI. State Street Corp raised its stake in shares of Midland States Bancorp by 2.5% in the third quarter. State Street Corp now owns 587,947 shares of the financial services provider’s stock worth $13,158,000 after purchasing an additional 14,157 shares during the last quarter. Geode Capital Management LLC increased its holdings in Midland States Bancorp by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock worth $11,460,000 after buying an additional 2,294 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Midland States Bancorp in the 3rd quarter worth about $5,764,000. JPMorgan Chase & Co. lifted its stake in Midland States Bancorp by 52.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock valued at $2,469,000 after acquiring an additional 37,889 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings 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 valued at $1,996,000 after acquiring an additional 21,416 shares during the last quarter. 60.93% of the stock is currently 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.