Midland States Bancorp (NASDAQ:MSBI) Reaches New 1-Year High – What’s Next?

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $26.78 and last traded at $26.8990, with a volume of 91966 shares trading hands. The stock had previously closed at $25.97.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MSBI shares. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. UBS Group set a $25.50 price target on Midland States Bancorp in a research note on Monday, January 26th. DA Davidson lifted their price target on Midland States Bancorp from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Piper Sandler lifted their price target on Midland States Bancorp from $25.50 to $28.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Midland States Bancorp in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Midland States Bancorp has a consensus rating of “Hold” and a consensus target price of $23.90.

Midland States Bancorp Stock Performance

The company’s 50-day simple moving average is $22.77 and its 200 day simple moving average is $20.85. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.82. The stock has a market cap of $581.30 million, a P/E ratio of 22.95 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Thursday, April 23rd. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.60 by $0.19. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.45%. The firm had revenue of $81.10 million for the quarter, compared to analysts’ expectations of $75.59 million. As a group, sell-side analysts expect that Midland States Bancorp, Inc. will post 3.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Midland States Bancorp

Several hedge funds have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co lifted its position in shares of 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 worth $43,000 after buying an additional 503 shares in the last quarter. 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 during the period. Commonwealth Equity Services LLC raised its holdings in shares of Midland States Bancorp by 2.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 41,792 shares of the financial services provider’s stock worth $885,000 after purchasing an additional 992 shares during the period. Federated Hermes Inc. raised its holdings in shares of Midland States Bancorp by 3.4% in the 3rd quarter. Federated Hermes Inc. now owns 32,790 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 1,071 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Midland States Bancorp by 8.1% in the 2nd quarter. First Trust Advisors LP now owns 14,385 shares of the financial services provider’s stock worth $249,000 after purchasing an additional 1,084 shares during the period. Institutional investors own 60.93% of the company’s stock.

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.