Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives Average Rating of “Reduce” from Analysts

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have earned a consensus recommendation of “Reduce” from the six analysts that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $20.00.

Several research firms have weighed in on MSBI. Piper Sandler boosted their target price on shares of Midland States Bancorp from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Midland States Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a research report on Monday, December 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, December 29th. Wall Street Zen cut Midland States Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th. Finally, Zacks Research upgraded Midland States Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd.

Insider Buying and Selling

In related news, insider Daniel Edward Casey acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were purchased at an average cost of $17.89 per share, for a total transaction of $89,450.00. Following the acquisition, the insider owned 28,254 shares in the company, valued at $505,464.06. The trade was a 21.50% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeremy Andrew Jameson acquired 5,598 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were bought at an average cost of $17.69 per share, with a total value of $99,028.62. Following the transaction, the executive vice president directly owned 63,412 shares in the company, valued at $1,121,758.28. This trade represents a 9.68% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 11,098 shares of company stock worth $197,324 over the last three months. Insiders own 5.27% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Institutional investors have recently modified their holdings of the company. 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 valued at $38,000 after buying an additional 620 shares during the period. Empowered Funds LLC grew its position in Midland States Bancorp by 3.5% in the 1st quarter. Empowered Funds LLC now owns 58,504 shares of the financial services provider’s stock valued at $1,002,000 after acquiring an additional 2,004 shares in the last quarter. Jane Street Group LLC acquired a new position in Midland States Bancorp in the 1st quarter valued at about $354,000. Strs Ohio purchased a new stake in Midland States Bancorp during the first quarter worth about $486,000. Finally, Voya Investment Management LLC acquired a new stake in shares of Midland States Bancorp during the first quarter worth about $344,000. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Stock Down 1.7%

Shares of NASDAQ:MSBI opened at $21.78 on Friday. Midland States Bancorp has a 52-week low of $14.24 and a 52-week high of $25.76. The stock has a market cap of $469.36 million, a P/E ratio of -17.15 and a beta of 0.66. The business has a fifty day moving average of $18.85 and a two-hundred day moving average of $18.01. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.95.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results 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 3.80% and a negative return on equity of 3.63%. The firm had revenue of $70.61 million for the quarter. On average, research analysts expect that Midland States Bancorp will post 2.53 earnings per share for the current year.

Midland States Bancorp announced that its Board of Directors has authorized a share repurchase plan on Monday, November 3rd that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Midland States Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 14th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.28 dividend on an annualized basis and a yield of 5.9%. Midland States Bancorp’s dividend payout ratio is presently -100.79%.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.