Midland States Bancorp (NASDAQ:MSBI) Hits New 12-Month High – What’s Next?

Midland States Bancorp, Inc. (NASDAQ:MSBI)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $30.44 and last traded at $30.5250, with a volume of 15430 shares. The stock had previously closed at $30.20.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. DA Davidson upped their price objective on shares of Midland States Bancorp from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Zacks Research raised Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Wall Street Zen downgraded shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Weiss Ratings upgraded Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Finally, Piper Sandler upped their price target on shares of Midland States Bancorp from $25.50 to $28.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.90.

Midland States Bancorp Trading Up 0.4%

The firm has a market capitalization of $628.74 million, a P/E ratio of 25.71 and a beta of 0.67. The firm has a 50 day simple moving average of $27.10 and a two-hundred day simple moving average of $23.90. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.60 by $0.19. The firm had revenue of $81.10 million during the quarter, compared to analyst estimates of $75.59 million. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.55%. Equities research analysts forecast that Midland States Bancorp, Inc. will post 3.17 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Friday, May 15th. Midland States Bancorp’s dividend payout ratio (DPR) is 108.47%.

Midland States Bancorp announced that its board has initiated a share repurchase program on Wednesday, May 6th that authorizes the company to buyback $45.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, Director Travis Franklin purchased 9,400 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were bought at an average price of $26.49 per share, with a total value of $249,006.00. Following the acquisition, the director owned 9,400 shares of the company’s stock, valued at $249,006. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhino Investment Partners Inc boosted its position in shares of Midland States Bancorp by 22.5% in the first quarter. Rhino Investment Partners Inc now owns 320,288 shares of the financial services provider’s stock valued at $7,146,000 after acquiring an additional 58,754 shares during the period. Empowered Funds LLC grew its stake in shares of Midland States Bancorp by 43.3% during the first quarter. Empowered Funds LLC now owns 96,686 shares of the financial services provider’s stock valued at $2,157,000 after buying an additional 29,214 shares during the last quarter. Quantinno Capital Management LP grew its position in Midland States Bancorp by 26.9% during the 1st quarter. Quantinno Capital Management LP now owns 54,635 shares of the financial services provider’s stock worth $1,219,000 after acquiring an additional 11,582 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Midland States Bancorp by 9.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 198,525 shares of the financial services provider’s stock worth $4,429,000 after purchasing an additional 16,637 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Midland States Bancorp by 163.0% during the first quarter. Sei Investments Co. now owns 38,076 shares of the financial services provider’s stock valued at $849,000 after acquiring an additional 23,600 shares during the last quarter. 60.93% of the stock is currently owned by institutional investors.

Midland States Bancorp Company Profile

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.