Midland States Bancorp, Inc. (NASDAQ:MSBI) Given Average Recommendation of “Hold” by Analysts

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have earned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $23.90.

A number of equities research analysts have commented on MSBI shares. Wall Street Zen upgraded shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings upgraded shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th. DA Davidson raised their price target on shares of Midland States Bancorp from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Zacks Research upgraded shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Finally, UBS Group set a $25.50 price target on shares of Midland States Bancorp in a report on Monday, January 26th.

Insider Activity

In other Midland States Bancorp news, Director Travis Franklin acquired 9,400 shares of Midland States Bancorp stock in a transaction dated Tuesday, May 5th. The stock was purchased at an average cost of $26.49 per share, for a total transaction of $249,006.00. Following the completion of the acquisition, the director directly owned 9,400 shares of the company’s stock, valued at $249,006. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Amundi grew its holdings in shares of Midland States Bancorp by 39.4% during the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after buying an additional 620 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Midland States Bancorp by 33.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after buying an additional 503 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Midland States Bancorp during the third quarter valued at about $46,000. Quadrant Capital Group LLC grew its holdings in shares of Midland States Bancorp by 302.7% during the fourth quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock valued at $97,000 after buying an additional 3,457 shares during the last quarter. Finally, Daytona Street Capital LLC acquired a new position in shares of Midland States Bancorp during the fourth quarter valued at about $107,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Midland States Bancorp Trading Up 3.4%

MSBI opened at $27.46 on Friday. Midland States Bancorp has a twelve month low of $14.24 and a twelve month high of $28.53. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average of $23.94 and a 200-day moving average of $21.77. The stock has a market cap of $569.25 million, a PE ratio of 23.27 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.19. The business had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $75.59 million. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.55%. On average, sell-side analysts predict that Midland States Bancorp will post 3.17 EPS for the current year.

Midland States Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Friday, May 15th. Midland States Bancorp’s dividend payout ratio (DPR) is currently 108.47%.

Midland States Bancorp declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 6th that allows the company to buyback $45.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Midland States Bancorp

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.