StockNews.com Upgrades Midland States Bancorp (NASDAQ:MSBI) to “Buy”

StockNews.com upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a hold rating to a buy rating in a research note published on Tuesday.

A number of other research analysts have also weighed in on the company. Keefe, Bruyette & Woods decreased their price objective on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th. Piper Sandler raised their price target on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday.

Midland States Bancorp Stock Down 0.2 %

Shares of NASDAQ MSBI opened at $24.77 on Tuesday. Midland States Bancorp has a 52-week low of $20.54 and a 52-week high of $28.47. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.10. The company’s 50-day simple moving average is $22.70 and its 200-day simple moving average is $22.78. The firm has a market cap of $529.90 million, a price-to-earnings ratio of 10.85 and a beta of 0.75.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.63 by $0.11. The company had revenue of $124.17 million during the quarter, compared to analyst estimates of $72.90 million. Midland States Bancorp had a return on equity of 9.00% and a net margin of 12.13%. During the same period in the previous year, the business earned $0.78 EPS. Equities analysts predict that Midland States Bancorp will post 2.14 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 16th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date was Friday, August 16th. Midland States Bancorp’s dividend payout ratio (DPR) is currently 53.68%.

Insiders Place Their Bets

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the transaction, the chief executive officer now owns 343,935 shares in the company, valued at $8,433,286.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Midland States Bancorp

Several hedge funds have recently made changes to their positions in MSBI. EntryPoint Capital LLC acquired a new position in Midland States Bancorp in the first quarter valued at approximately $42,000. US Bancorp DE raised its position in Midland States Bancorp by 141.6% in the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 2,229 shares during the period. Comerica Bank lifted its stake in shares of Midland States Bancorp by 950.4% in the 1st quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock valued at $188,000 after purchasing an additional 6,757 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Midland States Bancorp during the 2nd quarter worth $218,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Midland States Bancorp during the 2nd quarter worth $248,000. Hedge funds and other institutional investors own 60.93% of the company’s stock.

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.