Midland States Bancorp, Inc. (NASDAQ:MSBI) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have been given an average recommendation of “Hold” by the six brokerages that are presently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold rating. The average 1-year price target among brokers that have issued a report on the stock in the last year is $32.50.

A number of brokerages recently issued reports on MSBI. Stephens increased their price objective on Midland States Bancorp from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 27th. Zacks Research lowered Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. Piper Sandler increased their price target on shares of Midland States Bancorp from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, October 26th. Wall Street Zen raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 7th. Finally, Keefe, Bruyette & Woods increased their target price on Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 27th.

Insider Transactions at Midland States Bancorp

In other Midland States Bancorp news, COO Kyle Mooney sold 2,400 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $33.33, for a total transaction of $79,992.00. Following the transaction, the chief operating officer directly owned 13,610 shares in the company, valued at $453,621.30. This trade represents a 14.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.57% of the stock is currently owned by corporate insiders.

Institutional Trading of Midland States Bancorp

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in shares of Midland States Bancorp in the 2nd quarter valued at about $90,950,000. Patriot Financial Partners GP II L.P. bought a new position in shares of Midland States Bancorp in the first quarter worth approximately $9,783,000. Bank of New York Mellon Corp bought a new stake in Midland States Bancorp during the 2nd quarter valued at $3,941,000. Bank of America Corp DE bought a new stake in Midland States Bancorp during the 2nd quarter valued at $3,545,000. Finally, Empowered Funds LLC bought a new stake in Midland States Bancorp during the 2nd quarter valued at $2,893,000. 60.93% of the stock is owned by institutional investors.

Midland States Bancorp Trading Down 1.1%

Shares of Midland States Bancorp stock opened at $32.09 on Friday. The stock has a fifty day simple moving average of $32.91 and a 200 day simple moving average of $28.58. Midland States Bancorp has a 12-month low of $15.06 and a 12-month high of $35.10. The company has a market capitalization of $667.47 million, a P/E ratio of 10.50 and a beta of 0.66. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.03.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, October 22nd. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.06. Midland States Bancorp had a net margin of 12.80% and a return on equity of 17.13%. The firm had revenue of $86.14 million for the quarter, compared to the consensus estimate of $83.77 million. On average, sell-side analysts anticipate that Midland States Bancorp will post 3.44 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 13th will be given a $0.33 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.32 dividend on an annualized basis and a yield of 4.1%. Midland States Bancorp’s payout ratio is presently 58.15%.

About Midland States Bancorp

Midland States Bancorp, Inc. is a financial holding company headquartered in Effingham, Illinois. Its principal subsidiary, Midland States Bank, provides banking and financial services to individuals, businesses and organizations, with a focus on community banking. The bank offers deposit accounts, personal and business loans, mortgage lending, treasury management and other commercial banking services. It also provides wealth management services, including investment and trust services. Midland States Bank traces its roots to 1881 and primarily serves customers in Illinois and Missouri.