Midland States Bancorp’s (MSBI) Sell (D) Rating Reaffirmed at Weiss Ratings

Weiss Ratings restated their sell (d) rating on shares of Midland States Bancorp (NASDAQ:MSBI) in a report published on Tuesday,Weiss Ratings reports.

Other equities research analysts also recently issued research reports about the stock. Wall Street Zen raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Piper Sandler reaffirmed a “neutral” rating and set a $21.00 price objective (up previously from $18.00) on shares of Midland States Bancorp in a research report on Friday, July 11th. Finally, Stephens raised shares of Midland States Bancorp to a “hold” rating in a research note on Thursday, September 11th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $20.75.

Midland States Bancorp Price Performance

Shares of MSBI stock opened at $16.57 on Tuesday. The firm has a market cap of $356.92 million, a P/E ratio of -21.52 and a beta of 0.72. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.86 and a quick ratio of 0.85. Midland States Bancorp has a 1-year low of $14.79 and a 1-year high of $28.08. The firm has a fifty day moving average of $17.62 and a two-hundred day moving average of $17.36.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Wednesday, March 23rd. The financial services provider reported $0.54 earnings per share for the quarter. Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.30%. The business had revenue of $70.61 million during the quarter. As a group, research analysts anticipate that Midland States Bancorp will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.7%. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.31. Midland States Bancorp’s dividend payout ratio (DPR) is currently -166.23%.

Institutional Trading of Midland States Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amundi raised its holdings in shares of Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 620 shares in the last quarter. Quantbot Technologies LP raised its holdings in shares of Midland States Bancorp by 162.5% in the 1st quarter. Quantbot Technologies LP now owns 5,585 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 3,457 shares in the last quarter. CWM LLC raised its holdings in shares of Midland States Bancorp by 162.5% in the 1st quarter. CWM LLC now owns 7,416 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 4,591 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Midland States Bancorp by 23,655.3% in the 2nd quarter. AlphaQuest LLC now owns 9,027 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 8,989 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Midland States Bancorp by 2,114.8% in the 1st quarter. GAMMA Investing LLC now owns 9,125 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 8,713 shares in the last quarter. 60.93% of the stock is currently owned by 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.