Midland States Bancorp Inc (MSBI) Given $38.50 Average Target Price by Brokerages
Midland States Bancorp Inc (NASDAQ:MSBI) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Brokers have set a 12-month consensus target price of $38.50 for the company and are predicting that the company will post $0.45 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Midland States Bancorp an industry rank of 177 out of 265 based on the ratings given to related companies.
Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. ValuEngine lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Thursday, March 8th.
Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.17). The firm had revenue of $50.03 million for the quarter, compared to analysts’ expectations of $54.10 million. Midland States Bancorp had a net margin of 7.56% and a return on equity of 8.71%. equities research analysts forecast that Midland States Bancorp will post 2.55 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 16th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.77%. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, February 15th. Midland States Bancorp’s payout ratio is 95.65%.
In related news, Director John M. Schultz sold 2,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $33.85, for a total value of $67,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey S. Mefford sold 3,260 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $31.70, for a total transaction of $103,342.00. Following the completion of the sale, the executive vice president now directly owns 21,868 shares of the company’s stock, valued at approximately $693,215.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,260 shares of company stock valued at $424,162. Insiders own 14.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Midland States Bancorp in the 3rd quarter worth $184,000. Voya Investment Management LLC purchased a new stake in Midland States Bancorp in the 2nd quarter worth $225,000. MetLife Investment Advisors LLC purchased a new stake in Midland States Bancorp in the 4th quarter worth $244,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Midland States Bancorp in the 3rd quarter worth $294,000. Finally, California Public Employees Retirement System purchased a new stake in Midland States Bancorp in the 2nd quarter worth $311,000. 38.43% of the stock is owned by institutional investors.
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About Midland States Bancorp
Midland States Bancorp, Inc is a diversified financial holding company. The Company’s banking subsidiary is Midland States Bank (the Bank). The Company’s principal business activity has been lending to and accepting deposits from individuals, businesses, municipalities and other entities. The Company’s segments include Banking, which provides a range of financial products and services to consumers and businesses, including loan products; commercial equipment leasing; mortgage loan sales and servicing; letters of credit; various types of deposit products, including checking, savings and time deposit accounts; merchant services, and corporate treasury management services; Commercial Federal Housing Administration (FHA) Origination and Servicing, which provides for the origination and servicing of government sponsored mortgages for multifamily and healthcare facilities, and Other, which includes the operating results of the Company and its wealth management business unit.
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