Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives $20.00 Consensus PT from Analysts

Midland States Bancorp, Inc. (NASDAQ:MSBI) has received an average rating of “Reduce” from the six analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $20.00.

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

Midland States Bancorp Price Performance

NASDAQ:MSBI opened at $22.50 on Friday. Midland States Bancorp has a 52-week low of $14.24 and a 52-week high of $25.08. The company has a market cap of $484.92 million, a P/E ratio of -17.72 and a beta of 0.66. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.85. The stock’s 50-day simple moving average is $19.47 and its 200 day simple moving average is $18.17.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.37). The company had revenue of $81.33 million during the quarter, compared to the consensus estimate of $79.35 million. Midland States Bancorp had a negative net margin of 3.80% and a negative return on equity of 3.63%. As a group, sell-side analysts forecast that Midland States Bancorp will post 2.53 EPS for the current fiscal year.

Midland States Bancorp declared that its board has authorized a share repurchase program on Monday, November 3rd that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Midland States Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 5.7%. The ex-dividend date was Friday, November 14th. Midland States Bancorp’s payout ratio is currently -100.79%.

Insider Buying and Selling at Midland States Bancorp

In related news, insider Daniel Edward Casey acquired 5,000 shares of Midland States Bancorp stock in a transaction on Wednesday, December 3rd. The stock was purchased at an average cost of $17.89 per share, with a total value of $89,450.00. Following the completion of the transaction, the insider directly owned 28,254 shares in the company, valued at $505,464.06. This trade represents a 21.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jeremy Andrew Jameson acquired 5,598 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was bought at an average price of $17.69 per share, for a total transaction of $99,028.62. Following the completion of the acquisition, the executive vice president owned 63,412 shares of the company’s stock, valued at approximately $1,121,758.28. The trade was a 9.68% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 11,098 shares of company stock valued at $197,324 in the last ninety days. Insiders own 5.27% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Several hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC grew its position in shares of Midland States Bancorp by 38.1% in the second quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock valued at $9,370,000 after purchasing an additional 149,175 shares during the last quarter. Algert Global LLC acquired a new stake in Midland States Bancorp during the 3rd quarter worth approximately $1,297,000. Los Angeles Capital Management LLC bought a new stake in Midland States Bancorp in the 2nd quarter valued at $1,006,000. Numerai GP LLC acquired a new position in Midland States Bancorp in the 3rd quarter valued at $814,000. Finally, Jump Financial LLC increased its position in Midland States Bancorp by 272.5% during the 2nd quarter. Jump Financial LLC now owns 55,500 shares of the financial services provider’s stock worth $961,000 after buying an additional 40,600 shares during the period. 60.93% of the stock is currently owned by institutional investors and hedge funds.

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.