Midland States Bancorp (NASDAQ:MSBI) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Several other equities research analysts have also recently weighed in on MSBI. Keefe, Bruyette & Woods cut their target price on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Monday, July 29th. Piper Sandler upped their target price on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th.

Midland States Bancorp Trading Up 0.2 %

NASDAQ:MSBI traded up $0.05 on Thursday, reaching $26.75. The company’s stock had a trading volume of 53,811 shares, compared to its average volume of 80,378. Midland States Bancorp has a 1-year low of $20.54 and a 1-year high of $28.47. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $572.45 million, a PE ratio of 11.56 and a beta of 0.74. The business’s 50-day moving average price is $23.35 and its two-hundred day moving average price is $22.96.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. The business had revenue of $124.17 million for the quarter, compared to analyst estimates of $72.90 million. During the same quarter in the prior year, the company posted $0.78 earnings per share. Equities research analysts anticipate that Midland States Bancorp will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 4.64%. Midland States Bancorp’s dividend payout ratio is 53.68%.

Insider Activity at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the transaction, the chief executive officer now directly owns 343,935 shares in the company, valued at $8,433,286.20. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new stake in Midland States Bancorp in the third quarter worth $31,000. EntryPoint Capital LLC bought a new stake in Midland States Bancorp in the first quarter worth $42,000. Point72 Asset Management L.P. bought a new stake in Midland States Bancorp in the third quarter worth $45,000. Quantbot Technologies LP raised its stake in shares of Midland States Bancorp by 25.8% during the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 507 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Midland States Bancorp by 141.6% during the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 2,229 shares during the last quarter. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.