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

Midland States Bancorp, Inc. (NASDAQ:MSBI) has been assigned a consensus rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $24.70.

Several research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. DA Davidson boosted their price objective on shares of 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 upped their price objective on Midland States Bancorp from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Finally, Weiss Ratings raised Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 4th.

Insider Activity at Midland States Bancorp

In other news, Director Travis Franklin acquired 9,400 shares of Midland States Bancorp stock in a transaction dated Tuesday, May 5th. The shares were acquired at an average cost of $26.49 per share, with a total value of $249,006.00. Following the purchase, the director directly owned 9,400 shares of the company’s stock, valued at approximately $249,006. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.57% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Amundi lifted its position in Midland States Bancorp by 39.4% during the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after buying an additional 620 shares in the last quarter. CANADA LIFE ASSURANCE Co increased 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 worth $43,000 after acquiring an additional 503 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Midland States Bancorp in the 3rd quarter valued at $46,000. Quadrant Capital Group LLC raised its stake in shares of Midland States Bancorp by 302.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 3,457 shares during the period. Finally, Daytona Street Capital LLC acquired a new position in shares of Midland States Bancorp during the 4th quarter valued at $107,000. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Price Performance

Shares of NASDAQ:MSBI opened at $30.35 on Friday. The company has a market cap of $629.16 million, a P/E ratio of 25.72 and a beta of 0.66. The business has a fifty day simple moving average of $28.26 and a 200-day simple moving average of $24.46. Midland States Bancorp has a 52 week low of $14.24 and a 52 week high of $31.67. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71.

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

Midland States Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders 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 yield of 4.2%. The ex-dividend date of this dividend was Friday, May 15th. Midland States Bancorp’s payout ratio is 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 shares. This buyback authorization permits the financial services provider to repurchase up to 8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.