Midland States Bancorp (NASDAQ:MSBI) Price Target Raised to $28.00

Midland States Bancorp (NASDAQ:MSBI) had its price objective raised by research analysts at Keefe, Bruyette & Woods from $24.00 to $28.00 in a report released on Wednesday,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 5.11% from the stock’s current price.

MSBI has been the subject of several other reports. StockNews.com cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Piper Sandler lifted their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th.

Midland States Bancorp Trading Up 0.2 %

MSBI stock traded up $0.06 during midday trading on Wednesday, hitting $26.64. The stock had a trading volume of 15,183 shares, compared to its average volume of 79,666. The firm has a market cap of $570.12 million, a PE ratio of 11.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. Midland States Bancorp has a 12-month low of $20.54 and a 12-month high of $28.47. The company’s 50-day moving average price is $24.60 and its 200 day moving average price is $23.29.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data 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 company had revenue of $124.17 million during the quarter, compared to analysts’ expectations of $72.90 million. During the same period in the previous year, the company earned $0.78 EPS. On average, equities research analysts predict that Midland States Bancorp will post 2.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company’s 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 sale, the chief executive officer now owns 343,935 shares in the company, valued at approximately $8,433,286.20. This represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Midland States Bancorp

Institutional investors have recently modified their holdings of the stock. American Century Companies Inc. raised its stake in shares of Midland States Bancorp by 16.0% in the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after purchasing an additional 55,555 shares in the last quarter. Acadian Asset Management LLC grew its position in shares of Midland States Bancorp by 69.6% during the 2nd quarter. Acadian Asset Management LLC now owns 74,722 shares of the financial services provider’s stock valued at $1,691,000 after buying an additional 30,677 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Midland States Bancorp during the 2nd quarter valued at about $1,350,000. Hsbc Holdings PLC grew its position in shares of Midland States Bancorp by 9.9% during the 2nd quarter. Hsbc Holdings PLC now owns 28,562 shares of the financial services provider’s stock valued at $652,000 after buying an additional 2,562 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Midland States Bancorp by 47.5% during the 3rd quarter. SG Americas Securities LLC now owns 14,214 shares of the financial services provider’s stock valued at $318,000 after buying an additional 4,576 shares during the last quarter. Institutional investors and hedge funds 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.