Midland States Bancorp (NASDAQ:MSBI) Raised to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a sell rating to a hold rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Midland States Bancorp, Inc. is a financial and bank holding company. It provides commercial and consumer banking products and services, merchant credit card services, trust and investment management, insurance and financial planning services. The company also offers commercial equipment leasing services which provided through Heartland Business Credit and multi-family and healthcare facility FHA financing is provided through Love Funding, Midland’s non-bank subsidiaries. Midland States Bancorp, Inc. is headquartered in Effingham, Illinois. “

A number of other research analysts have also recently commented on the company. BidaskClub raised Midland States Bancorp from a sell rating to a hold rating in a research report on Wednesday, July 31st. TheStreet raised Midland States Bancorp from a c+ rating to a b rating in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $27.00.

Shares of NASDAQ MSBI opened at $27.12 on Wednesday. Midland States Bancorp has a one year low of $19.56 and a one year high of $33.90. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.05 and a quick ratio of 1.04. The business’s fifty day moving average price is $26.15 and its 200-day moving average price is $25.81. The stock has a market capitalization of $671.95 million, a PE ratio of 10.74, a P/E/G ratio of 1.51 and a beta of 1.36.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. Midland States Bancorp had a return on equity of 10.14% and a net margin of 17.52%. The firm had revenue of $65.66 million for the quarter, compared to analysts’ expectations of $64.90 million. As a group, equities analysts expect that Midland States Bancorp will post 2.59 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were issued a dividend of $0.243 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.97 dividend on an annualized basis and a yield of 3.58%. Midland States Bancorp’s dividend payout ratio (DPR) is 47.55%.

In related news, Director Jerry L. Mcdaniel sold 14,259 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $26.21, for a total transaction of $373,728.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Leon J. Holschbach sold 1,992 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $26.00, for a total value of $51,792.00. The disclosure for this sale can be found here. Insiders have sold a total of 60,929 shares of company stock worth $1,622,756 in the last three months. 12.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MSBI. Kennedy Capital Management Inc. purchased a new stake in Midland States Bancorp during the 1st quarter worth about $3,609,000. Wells Fargo & Company MN lifted its holdings in Midland States Bancorp by 75.8% during the 2nd quarter. Wells Fargo & Company MN now owns 347,490 shares of the financial services provider’s stock worth $9,286,000 after purchasing an additional 149,871 shares in the last quarter. LSV Asset Management purchased a new stake in Midland States Bancorp during the 2nd quarter worth about $3,620,000. Dimensional Fund Advisors LP lifted its holdings in Midland States Bancorp by 25.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 559,834 shares of the financial services provider’s stock worth $12,507,000 after purchasing an additional 114,165 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Midland States Bancorp by 7.3% during the 2nd quarter. BlackRock Inc. now owns 1,477,062 shares of the financial services provider’s stock worth $39,467,000 after purchasing an additional 101,024 shares in the last quarter. 47.99% of the stock is currently owned by institutional investors and hedge funds.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Commercial FHA Origination and Servicing, Wealth Management, and Other segments.

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