Midland States Bancorp (NASDAQ:MSBI) Sets New 12-Month High – What’s Next?

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) hit a new 52-week high on Wednesday . The stock traded as high as $30.44 and last traded at $30.5250, with a volume of 15430 shares trading hands. The stock had previously closed at $30.20.

Analyst Ratings Changes

A number of research firms have recently issued reports on MSBI. Weiss Ratings raised Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th. Piper Sandler upped their price objective on shares of Midland States Bancorp from $25.50 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. DA Davidson raised their target price on shares of Midland States Bancorp from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Finally, Wall Street Zen lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Midland States Bancorp has an average rating of “Hold” and a consensus price target of $23.90.

Midland States Bancorp Stock Performance

The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $632.47 million, a price-to-earnings ratio of 25.86 and a beta of 0.67. The stock’s 50 day moving average price is $27.36 and its two-hundred day moving average price is $24.05.

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

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 15th were given 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 was Friday, May 15th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 108.47%.

Midland States Bancorp announced that its Board of Directors has approved a stock buyback program on Wednesday, May 6th that permits the company to buyback $45.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Midland States Bancorp

In other news, Director Travis Franklin purchased 9,400 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were acquired at an average price of $26.49 per share, for a total transaction of $249,006.00. Following the acquisition, the director directly 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 Securities & Exchange Commission, which is available through the SEC website. 8.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi increased its holdings in Midland States Bancorp by 39.4% during the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 620 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Midland States Bancorp by 33.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 503 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Midland States Bancorp during the 3rd quarter worth approximately $46,000. Quadrant Capital Group LLC raised its position in shares of Midland States Bancorp by 302.7% during the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 3,457 shares during the last quarter. Finally, Daytona Street Capital LLC purchased a new stake in Midland States Bancorp in the 4th quarter valued at approximately $107,000. Institutional investors and hedge funds 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.