Midland States Bancorp (NASDAQ:MSBI) Price Target Raised to $31.00

Midland States Bancorp (NASDAQ:MSBI) had its price target hoisted by Keefe, Bruyette & Woods from $28.00 to $31.00 in a research note published on Monday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

MSBI has been the topic of several other reports. Piper Sandler increased their price objective on Midland States Bancorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. DA Davidson boosted their target price on Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Wall Street Zen lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th. Finally, Weiss Ratings upgraded shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.10.

Midland States Bancorp Stock Down 1.4%

Shares of NASDAQ:MSBI opened at $33.62 on Monday. Midland States Bancorp has a 52-week low of $14.24 and a 52-week high of $34.35. The firm has a fifty day moving average of $29.94 and a 200 day moving average of $25.73. The firm has a market capitalization of $696.94 million, a PE ratio of 21.55 and a beta of 0.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. Midland States Bancorp had a return on equity of 13.32% and a net margin of 9.40%.The business had revenue of $83.74 million for the quarter, compared to the consensus estimate of $80.70 million. As a group, research analysts anticipate that Midland States Bancorp will post 3.4 EPS for the current fiscal year.

Midland States Bancorp announced that its board has approved a share buyback plan 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 plans are often a sign that the company’s leadership believes its stock is undervalued.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 15th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, May 15th. Midland States Bancorp’s payout ratio is presently 82.05%.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 8,383 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total value of $285,022.00. Following the transaction, the chief executive officer owned 400,971 shares in the company, valued at approximately $13,633,014. The trade was a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Travis Franklin acquired 9,400 shares of the stock in a transaction dated Tuesday, May 5th. The shares were purchased at an average cost of $26.49 per share, with a total value of $249,006.00. Following the completion of the purchase, the director owned 9,400 shares of the company’s stock, valued at approximately $249,006. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 8.57% of the company’s stock.

Institutional Trading of Midland States Bancorp

Large investors have recently modified their holdings of the business. 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 purchasing an additional 620 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Midland States Bancorp by 33.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock worth $43,000 after buying an additional 503 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in Midland States Bancorp in the 3rd quarter worth approximately $46,000. Quadrant Capital Group LLC grew its position 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 worth $97,000 after buying an additional 3,457 shares during the last quarter. Finally, Daytona Street Capital LLC bought a new stake in shares of Midland States Bancorp in the 4th quarter worth approximately $107,000. 60.93% of the stock is owned by institutional investors.

Midland States Bancorp Company Profile

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.