Midland States Bancorp, Inc. (NASDAQ:MSBI) Given Consensus Recommendation of “Hold” by Analysts

Midland States Bancorp, Inc. (NASDAQ:MSBI) has received a consensus rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $29.10.

A number of research firms have recently weighed in on MSBI. Zacks Research upgraded shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Keefe, Bruyette & Woods boosted their price target on Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a report on Monday, July 27th. DA Davidson upped their price target on Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Piper Sandler increased their price objective on Midland States Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Midland States Bancorp in a research report on Friday, July 31st.

Midland States Bancorp Stock Performance

Shares of MSBI opened at $32.85 on Monday. The stock has a market capitalization of $681.70 million, a P/E ratio of 21.06 and a beta of 0.66. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.73. The firm has a fifty day simple moving average of $31.69 and a two-hundred day simple moving average of $27.01. Midland States Bancorp has a twelve month low of $14.24 and a twelve month high of $35.10.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. The firm had revenue of $83.74 million for the quarter, compared to analysts’ expectations of $80.70 million. On average, research analysts anticipate that Midland States Bancorp will post 3.4 EPS for the current year.

Midland States Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were paid a $0.33 dividend. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a yield of 4.0%. Midland States Bancorp’s payout ratio is 84.62%.

Midland States Bancorp announced that its board has authorized a stock repurchase plan on Wednesday, May 6th that authorizes the company to repurchase $45.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Midland States Bancorp news, COO Kyle Owen Mooney sold 1,198 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $33.51, for a total transaction of $40,144.98. Following the transaction, the chief operating officer directly owned 14,099 shares of the company’s stock, valued at approximately $472,457.49. The trade was a 7.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey G. Ludwig sold 8,383 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $34.00, for a total transaction of $285,022.00. Following the completion of the transaction, the chief executive officer owned 400,971 shares of the company’s stock, valued at $13,633,014. This trade represents a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 10,070 shares of company stock worth $341,382. Insiders own 8.57% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

A number of institutional investors have recently bought and sold shares of MSBI. CANADA LIFE ASSURANCE Co increased its position in Midland States Bancorp by 33.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after buying an additional 503 shares in the last quarter. Amundi boosted its holdings in Midland States Bancorp by 39.4% in the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 620 shares in the last quarter. Commonwealth Equity Services LLC boosted its holdings in Midland States Bancorp by 2.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 41,792 shares of the financial services provider’s stock worth $885,000 after acquiring an additional 992 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Midland States Bancorp by 8.1% in the second quarter. First Trust Advisors LP now owns 14,385 shares of the financial services provider’s stock worth $249,000 after acquiring an additional 1,084 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Midland States Bancorp by 12.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,334 shares of the financial services provider’s stock worth $262,000 after acquiring an additional 1,403 shares during the last quarter. 60.93% of the stock is owned by institutional investors.

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.