Midland States Bancorp (NASDAQ:MSBI) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

MSBI has been the topic of a number of other reports. Zacks Research cut Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. Stephens lifted their price objective on Midland States Bancorp from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Tuesday, October 27th. Weiss Ratings downgraded shares of Midland States Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, October 27th. DA Davidson upped their target price 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. Finally, Keefe, Bruyette & Woods upped their target price on shares of Midland States Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Six analysts have rated the stock with a Hold rating. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.50.

Midland States Bancorp Stock Up 0.4%

Shares of MSBI opened at $31.72 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average price of $32.94 and a two-hundred day moving average price of $28.45. The stock has a market cap of $659.84 million, a price-to-earnings ratio of 13.97 and a beta of 0.66. Midland States Bancorp has a 12 month low of $15.06 and a 12 month high of $35.10.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.06. The company had revenue of $86.14 million for the quarter, compared to analyst estimates of $83.77 million. Midland States Bancorp had a return on equity of 17.13% and a net margin of 12.80%. Equities analysts predict that Midland States Bancorp will post 3.44 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 13th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, November 13th. Midland States Bancorp’s payout ratio is presently 58.15%.

Insider Buying and Selling

In related news, COO Kyle Mooney sold 2,400 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $33.33, for a total transaction of $79,992.00. Following the completion of the sale, the chief operating officer directly owned 13,610 shares of the company’s stock, valued at $453,621.30. This trade represents a 14.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 4,087 shares of company stock worth $136,352. 8.57% of the stock is owned by corporate insiders.

Institutional Trading of Midland States Bancorp

Several large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue bought a new position in shares of Midland States Bancorp during the 3rd quarter valued at about $25,000. Legal & General Group Plc bought a new stake in Midland States Bancorp during the 2nd quarter worth approximately $58,000. Bank of New York Mellon Corp increased its stake in Midland States Bancorp by 1.7% during the 1st quarter. Bank of New York Mellon Corp now owns 126,213 shares of the financial services provider’s stock worth $2,816,000 after purchasing an additional 2,085 shares in the last quarter. Hsbc Holdings PLC increased its stake in Midland States Bancorp by 5.2% during the 1st quarter. Hsbc Holdings PLC now owns 49,439 shares of the financial services provider’s stock worth $1,103,000 after purchasing an additional 2,435 shares in the last quarter. Finally, Vise Technologies Inc. raised its holdings in Midland States Bancorp by 30.3% during the 3rd quarter. Vise Technologies Inc. now owns 12,003 shares of the financial services provider’s stock worth $386,000 after buying an additional 2,792 shares during the period. Institutional investors own 60.93% of the company’s stock.

About Midland States Bancorp

Midland States Bancorp, Inc is a financial holding company headquartered in Effingham, Illinois. Through its principal subsidiary, Midland States Bank, the company provides banking, wealth management and specialty finance services to individuals, families and businesses.

Its banking operations offer deposit accounts, commercial and residential real estate loans, consumer lending, commercial and industrial financing, treasury management and other cash-management services. The company also provides wealth management, trust and investment services, as well as equipment financing and leasing solutions for business customers.

Founded in 1881, Midland States Bank serves communities primarily in Illinois, Wisconsin and Ohio through a network of banking offices and other channels.