Midland States Bancorp (NASDAQ:MSBI) Price Target Lowered to $24.00 at Keefe, Bruyette & Woods

Midland States Bancorp (NASDAQ:MSBI) had its price target reduced by investment analysts at Keefe, Bruyette & Woods from $26.00 to $24.00 in a report issued on Monday, Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 2.30% from the stock’s current price.

Several other analysts also recently weighed in on MSBI. Stephens lowered their target price on shares of Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. Piper Sandler lowered their target price on shares of Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.13.

Midland States Bancorp Stock Down 2.3 %

Shares of NASDAQ MSBI traded down $0.55 during mid-day trading on Monday, reaching $23.46. The company had a trading volume of 70,618 shares, compared to its average volume of 75,656. The company has a current ratio of 0.92, a quick ratio of 0.91 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $22.92 and a two-hundred day simple moving average of $23.93. The stock has a market cap of $503.92 million, a P/E ratio of 8.01 and a beta of 0.76. Midland States Bancorp has a 52-week low of $19.85 and a 52-week high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.52). The business had revenue of $120.95 million for the quarter, compared to analysts’ expectations of $74.90 million. Midland States Bancorp had a return on equity of 9.25% and a net margin of 12.10%. During the same period in the previous year, the business posted $0.87 earnings per share. Sell-side analysts predict that Midland States Bancorp will post 2.7 earnings per share for the current year.

Insider Transactions at Midland States Bancorp

In related news, CAO Donald J. Spring sold 1,197 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $22.00, for a total value of $26,334.00. Following the completion of the sale, the chief accounting officer now directly owns 12,015 shares in the company, valued at $264,330. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Jeffrey M. Mcdonnell bought 2,290 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $21.80 per share, for a total transaction of $49,922.00. Following the completion of the acquisition, the director now owns 24,245 shares in the company, valued at $528,541. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Donald J. Spring sold 1,197 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $22.00, for a total transaction of $26,334.00. Following the sale, the chief accounting officer now owns 12,015 shares of the company’s stock, valued at $264,330. The disclosure for this sale can be found here. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Several institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its position in shares of Midland States Bancorp by 176.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 909 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Midland States Bancorp by 9.0% in the first quarter. Los Angeles Capital Management LLC now owns 18,575 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 1,532 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Midland States Bancorp in the first quarter valued at $42,000. Wedge Capital Management L L P NC raised its holdings in Midland States Bancorp by 9.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 19,274 shares of the financial services provider’s stock valued at $531,000 after acquiring an additional 1,740 shares in the last quarter. Finally, AJOVista LLC acquired a new stake in Midland States Bancorp in the fourth quarter valued at $67,000. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

About Midland States Bancorp

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.