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

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have received an average rating of “Hold” from the six ratings firms that are currently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $23.90.

A number of analysts have issued reports on MSBI shares. Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Wall Street Zen downgraded shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Piper Sandler upped their price target on shares of Midland States Bancorp from $25.50 to $28.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. DA Davidson upped their price target on shares of Midland States Bancorp from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Weiss Ratings raised shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th.

Midland States Bancorp Stock Performance

NASDAQ MSBI opened at $30.16 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $625.22 million, a P/E ratio of 25.56 and a beta of 0.67. Midland States Bancorp has a 12-month low of $14.24 and a 12-month high of $30.29. The firm has a 50-day moving average price of $26.28 and a two-hundred day moving average price of $23.28.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. The firm had revenue of $81.10 million during the quarter, compared to the consensus estimate of $75.59 million. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.55%. Analysts anticipate that Midland States Bancorp will post 3.17 earnings per share for the current year.

Midland States Bancorp announced that its Board of Directors has authorized a share buyback program on Wednesday, May 6th that permits the company to buyback $45.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Midland States Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 15th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, May 15th. Midland States Bancorp’s dividend payout ratio is 108.47%.

Insider Buying and Selling at Midland States Bancorp

In other news, Director Travis Franklin purchased 9,400 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was bought at an average price of $26.49 per share, with a total value of $249,006.00. Following the acquisition, the director owned 9,400 shares in the company, valued at approximately $249,006. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 8.57% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in MSBI. Patriot Financial Partners GP II L.P. bought a new position in Midland States Bancorp in the 1st quarter valued at approximately $9,783,000. AQR Capital Management LLC lifted its stake in Midland States Bancorp by 38.1% in the 2nd 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. Jacobs Levy Equity Management Inc. lifted its stake in shares of Midland States Bancorp by 97.1% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 238,364 shares of the financial services provider’s stock valued at $5,046,000 after acquiring an additional 117,422 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Midland States Bancorp during the 3rd quarter valued at $1,297,000. Finally, Royal Bank of Canada boosted its holdings in shares of Midland States Bancorp by 8,633.1% during the 4th quarter. Royal Bank of Canada now owns 68,555 shares of the financial services provider’s stock valued at $1,451,000 after acquiring an additional 67,770 shares in the last quarter. Institutional investors own 60.93% of the company’s stock.

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.