Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives Consensus Rating of “Hold” from Brokerages

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have been given a consensus rating of “Hold” by the six analysts that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $29.10.

Several research analysts have commented on the company. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Midland States Bancorp in a report on Friday. DA Davidson increased their price target on Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Wall Street Zen upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Piper Sandler lifted their price objective on Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th.

Insider Buying and Selling

In other news, CEO Jeffrey G. Ludwig sold 8,383 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total value of $285,022.00. Following the completion of the sale, the chief executive officer owned 400,971 shares in the company, valued at approximately $13,633,014. The trade was a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.57% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

Several institutional investors have recently bought and sold shares of MSBI. Amundi lifted its holdings in Midland States Bancorp by 39.4% during the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after buying an additional 620 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in shares of Midland States Bancorp by 33.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 503 shares during the period. CIBC Private Wealth Group LLC purchased a new position in shares of Midland States Bancorp in the 3rd quarter valued at $46,000. Quadrant Capital Group LLC raised its position in shares of Midland States Bancorp by 302.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 3,457 shares in the last quarter. Finally, Daytona Street Capital LLC bought a new position in shares of Midland States Bancorp in the 4th quarter worth $107,000. 60.93% of the stock is owned by hedge funds and other institutional investors.

Midland States Bancorp Stock Performance

Shares of NASDAQ:MSBI opened at $34.24 on Thursday. The firm has a market cap of $710.48 million, a PE ratio of 21.95 and a beta of 0.66. The firm’s 50 day simple moving average is $30.31 and its 200-day simple moving average is $25.98. Midland States Bancorp has a one year low of $14.24 and a one year high of $34.68. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.78 and a current ratio of 0.78.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm had revenue of $83.74 million during the quarter, compared to the consensus estimate of $80.70 million. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. As a group, equities analysts predict that Midland States Bancorp will post 3.4 EPS for the current year.

Midland States Bancorp declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 6th that allows the company to buyback $45.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

About Midland States Bancorp

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.