Midland States Bancorp (NASDAQ:MSBI) PT Lowered to $26.00

Midland States Bancorp (NASDAQ:MSBI) had its price objective cut by analysts at Keefe, Bruyette & Woods from $28.00 to $26.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 16.59% from the company’s current price.

Separately, Piper Sandler decreased their target price on shares of Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating for the company in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Midland States Bancorp presently has an average rating of “Hold” and a consensus target price of $25.13.

Midland States Bancorp Stock Performance

Shares of NASDAQ:MSBI traded down $0.20 during midday trading on Tuesday, hitting $22.30. The stock had a trading volume of 4,719 shares, compared to its average volume of 56,618. Midland States Bancorp has a 1 year low of $17.98 and a 1 year high of $28.47. The stock has a 50 day moving average price of $24.05 and a two-hundred day moving average price of $24.42. The company has a market capitalization of $487.26 million, a PE ratio of 7.63 and a beta of 0.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.18). The business had revenue of $122.86 million during the quarter, compared to analysts’ expectations of $75.05 million. Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. During the same quarter in the prior year, the firm earned $0.88 earnings per share. As a group, equities analysts predict that Midland States Bancorp will post 2.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its holdings in Midland States Bancorp by 176.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock worth $39,000 after buying an additional 909 shares during the period. AJOVista LLC acquired a new position in shares of Midland States Bancorp during the fourth quarter worth $67,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Midland States Bancorp by 110.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,168 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 3,244 shares during the period. International Assets Investment Management LLC increased its position in shares of Midland States Bancorp by 2,688.1% during the fourth quarter. International Assets Investment Management LLC now owns 7,723 shares of the financial services provider’s stock worth $213,000 after buying an additional 7,446 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in Midland States Bancorp in the third quarter valued at approximately $244,000. Institutional investors and hedge funds own 60.93% of the company’s stock.

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, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.