Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives Average Recommendation of “Hold” from Brokerages

Midland States Bancorp, Inc. (NASDAQ:MSBI) has been assigned a consensus rating of “Hold” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $29.10.

MSBI has been the topic of a number of recent research reports. DA Davidson increased their price target on shares of Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday. Piper Sandler upped their price objective on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Tuesday. Wall Street Zen cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Weiss Ratings raised shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Midland States Bancorp from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday.

Midland States Bancorp Price Performance

MSBI opened at $33.62 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $696.94 million, a P/E ratio of 21.55 and a beta of 0.66. The stock has a 50-day moving average price of $29.94 and a 200-day moving average price of $25.73. Midland States Bancorp has a 12-month low of $14.24 and a 12-month high of $34.35.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $83.74 million for the quarter, compared to analysts’ expectations of $80.70 million. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%. Equities analysts predict that Midland States Bancorp will post 3.4 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The business also recently announced 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. The ex-dividend date was Friday, May 15th. This represents a $1.28 annualized dividend and a yield of 3.8%. Midland States Bancorp’s dividend payout ratio is currently 82.05%.

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

Insider Transactions at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 8,383 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total transaction of $285,022.00. Following the completion of the sale, the chief executive officer directly owned 400,971 shares in the company, valued at approximately $13,633,014. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Travis Franklin bought 9,400 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average cost of $26.49 per share, for a total transaction of $249,006.00. Following the completion of the purchase, the director directly owned 9,400 shares of the company’s stock, valued at $249,006. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 8.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MSBI. State Street Corp lifted its holdings in Midland States Bancorp by 10.1% in the 4th quarter. State Street Corp now owns 682,862 shares of the financial services provider’s stock worth $14,456,000 after buying an additional 62,874 shares during the period. AQR Capital Management LLC increased its stake in shares of Midland States Bancorp by 38.1% during the second quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock valued at $9,370,000 after buying an additional 149,175 shares during the period. Patriot Financial Partners GP II L.P. purchased a new position in shares of Midland States Bancorp during the first quarter valued at approximately $9,783,000. Rhino Investment Partners Inc raised its holdings in shares of Midland States Bancorp by 22.5% during 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 in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Midland States Bancorp by 97.1% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider’s stock valued at $5,046,000 after acquiring an additional 117,422 shares in the last quarter. Institutional investors own 60.93% of the company’s stock.

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.