Midland States Bancorp (NASDAQ:MSBI) Stock Rating Upgraded by StockNews.com

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

MSBI has been the topic of several other research reports. Keefe, Bruyette & Woods cut their target price on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. Piper Sandler increased their price target on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th.

Midland States Bancorp Stock Up 0.0 %

Shares of NASDAQ MSBI opened at $26.71 on Thursday. The company’s 50 day moving average price is $23.53 and its 200-day moving average price is $23.02. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. Midland States Bancorp has a 52-week low of $20.54 and a 52-week high of $28.47. The company has a market capitalization of $571.62 million, a P/E ratio of 11.56 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. The business had revenue of $124.17 million for the quarter, compared to analyst estimates of $72.90 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. Equities analysts forecast that Midland States Bancorp will post 2.16 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.64%. Midland States Bancorp’s dividend payout ratio is presently 53.68%.

Insiders Place Their Bets

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the completion of the sale, the chief executive officer now owns 343,935 shares in the company, valued at approximately $8,433,286.20. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new position in Midland States Bancorp in the third quarter worth $31,000. EntryPoint Capital LLC bought a new stake in shares of Midland States Bancorp during the 1st quarter worth $42,000. Point72 Asset Management L.P. purchased a new position in shares of Midland States Bancorp in the 3rd quarter worth about $45,000. Quantbot Technologies LP grew its position in Midland States Bancorp by 25.8% during the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after buying an additional 507 shares during the period. Finally, US Bancorp DE increased its holdings in Midland States Bancorp by 141.6% during the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after buying an additional 2,229 shares during 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 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.