Midland States Bancorp, Inc. (MSBI) – What Are Analysts Saying About This Stock?

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have earned a consensus rating of “Hold” from the six research firms that are presently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $32.50.

MSBI has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of Midland States Bancorp from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. Wall Street Zen raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Saturday. Stephens boosted their target price on shares of Midland States Bancorp from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 27th. Zacks Research lowered Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. Finally, Weiss Ratings lowered Midland States Bancorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, October 27th.

Midland States Bancorp Trading Up 0.4%

Midland States Bancorp stock opened at $31.72 on Friday. The firm has a 50 day simple moving average of $32.94 and a 200-day simple moving average of $28.45. The stock has a market capitalization of $659.78 million, a PE ratio of 13.97 and a beta of 0.66. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.74 and a quick ratio of 0.74. 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 posted its quarterly earnings results on Thursday, October 22nd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. Midland States Bancorp had a net margin of 12.80% and a return on equity of 17.13%. The company had revenue of $86.14 million for the quarter, compared to analyst estimates of $83.77 million. As a group, equities research analysts expect that Midland States Bancorp will post 3.44 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

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

Insiders Place Their Bets

In other Midland States Bancorp news, COO Kyle Mooney sold 2,400 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $33.33, for a total value of $79,992.00. Following the transaction, the chief operating officer directly owned 13,610 shares of the company’s stock, valued at $453,621.30. The trade was a 14.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 4,087 shares of company stock worth $136,352 in the last three months. 8.57% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MSBI. BlackRock Inc. acquired a new position in Midland States Bancorp during the 2nd quarter valued at about $90,950,000. Patriot Financial Partners GP II L.P. purchased a new stake in Midland States Bancorp during the first quarter worth $9,783,000. Rhino Investment Partners Inc lifted 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 worth $7,146,000 after purchasing an additional 58,754 shares in the last quarter. Algert Global LLC grew its position in shares of Midland States Bancorp by 46.1% during the 2nd quarter. Algert Global LLC now owns 200,545 shares of the financial services provider’s stock worth $6,245,000 after buying an additional 63,314 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Midland States Bancorp by 9.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 198,525 shares of the financial services provider’s stock valued at $4,429,000 after purchasing an additional 16,637 shares in the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Company Profile

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.