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

Midland States Bancorp, Inc. (NASDAQ:MSBI) has received an average recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $23.00.

Several equities analysts have issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, December 29th. Keefe, Bruyette & Woods raised their target price on Midland States Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Monday, December 8th. DA Davidson upped their price target on Midland States Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 26th. UBS Group set a $25.50 price target on Midland States Bancorp in a research note on Monday, January 26th. Finally, Wall Street Zen raised Midland States Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd.

Insider Buying and Selling

In other news, COO Kyle Owen Mooney sold 2,808 shares of the business’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $22.67, for a total value of $63,657.36. Following the transaction, the chief operating officer directly owned 14,207 shares of the company’s stock, valued at $322,072.69. The trade was a 16.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeremy Andrew Jameson bought 5,598 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were acquired at an average price of $17.69 per share, for a total transaction of $99,028.62. Following the transaction, the executive vice president owned 63,412 shares in the company, valued at $1,121,758.28. This represents a 9.68% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 11,098 shares of company stock valued at $197,324 over the last quarter. Insiders own 5.27% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. Amundi increased its stake 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 valued at $38,000 after acquiring an additional 620 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in Midland States Bancorp in the third quarter valued at $46,000. Daytona Street Capital LLC bought a new stake in Midland States Bancorp in the fourth quarter valued at $107,000. Quantbot Technologies LP boosted its position in shares of Midland States Bancorp by 32.0% during the 2nd quarter. Quantbot Technologies LP now owns 7,372 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 1,787 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in shares of Midland States Bancorp by 23,655.3% in the 2nd quarter. AlphaQuest LLC now owns 9,027 shares of the financial services provider’s stock valued at $156,000 after buying an additional 8,989 shares during the period. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Price Performance

Shares of MSBI opened at $23.37 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.95. The stock has a market cap of $503.62 million, a PE ratio of 23.14 and a beta of 0.66. Midland States Bancorp has a 12-month low of $14.24 and a 12-month high of $24.57. The business has a 50-day simple moving average of $22.04 and a two-hundred day simple moving average of $18.77.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.17). The firm had revenue of $85.79 million for the quarter, compared to the consensus estimate of $74.49 million. Midland States Bancorp had a return on equity of 10.41% and a net margin of 6.62%. Analysts anticipate that Midland States Bancorp will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp announced that its board has approved a share buyback plan on Monday, November 3rd that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Midland States Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 13th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, February 13th. Midland States Bancorp’s dividend payout ratio is currently 126.73%.

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.