Midland States Bancorp (NASDAQ:MSBI) PT Lowered to $27.00

Midland States Bancorp (NASDAQ:MSBI) had its target price reduced by Stephens from $29.00 to $27.00 in a research note issued to investors on Tuesday, Benzinga reports. Stephens currently has an equal weight rating on the financial services provider’s stock.

MSBI has been the subject of several other reports. Piper Sandler decreased their price objective on shares of Midland States Bancorp from $26.00 to $24.50 and set a neutral rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods decreased their price target on Midland States Bancorp from $28.00 to $26.00 and set a market perform rating for the company in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $25.63.

Midland States Bancorp Stock Down 0.3 %

MSBI stock traded down $0.06 during mid-day trading on Tuesday, reaching $23.75. The company had a trading volume of 119,153 shares, compared to its average volume of 61,034. The firm has a fifty day simple moving average of $23.94 and a 200 day simple moving average of $24.44. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $518.94 million, a price-to-earnings ratio of 8.08 and a beta of 0.79. Midland States Bancorp has a fifty-two week low of $17.98 and a fifty-two week high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.18). Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.56%. The firm had revenue of $122.86 million during the quarter, compared to analyst estimates of $75.05 million. During the same period last year, the business earned $0.88 EPS. Analysts forecast that Midland States Bancorp will post 2.79 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 16th were given a dividend of $0.31 per share. The ex-dividend date was Thursday, February 15th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.22%. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.30. Midland States Bancorp’s payout ratio is 42.18%.

Institutional Trading of Midland States Bancorp

A number of large investors have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its holdings in shares of Midland States Bancorp by 176.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 909 shares during the period. AJOVista LLC purchased a new position in Midland States Bancorp during the 4th quarter worth $67,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Midland States Bancorp by 110.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,168 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 3,244 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Midland States Bancorp by 2,688.1% in the fourth quarter. International Assets Investment Management LLC now owns 7,723 shares of the financial services provider’s stock valued at $213,000 after buying an additional 7,446 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Midland States Bancorp in the third quarter valued at about $244,000. 60.93% of the stock is owned by institutional investors and hedge funds.

About Midland States Bancorp

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.