Midland States Bancorp (NASDAQ:MSBI) Given New $27.00 Price Target at Piper Sandler

Midland States Bancorp (NASDAQ:MSBI) had its target price raised by Piper Sandler from $26.00 to $27.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 7.78% from the company’s current price.

Separately, Keefe, Bruyette & Woods dropped their target price on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th.

Midland States Bancorp Stock Up 1.6 %

NASDAQ:MSBI opened at $25.05 on Tuesday. The stock has a 50-day simple moving average of $22.58 and a 200 day simple moving average of $22.75. Midland States Bancorp has a one year low of $20.54 and a one year high of $28.47. The company has a market capitalization of $535.82 million, a price-to-earnings ratio of 10.67 and a beta of 0.75. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.95 and a current ratio of 0.95.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The business had revenue of $124.17 million during the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a return on equity of 9.00% and a net margin of 12.13%. During the same period in the previous year, the business earned $0.78 EPS. Sell-side analysts predict that Midland States Bancorp will post 2 EPS for the current fiscal year.

Insider Buying and Selling

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total value of $312,703.56. Following the sale, the chief executive officer now directly owns 343,935 shares in the company, valued at approximately $8,433,286.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new position in shares of Midland States Bancorp during the 1st quarter valued at about $1,106,000. Janney Montgomery Scott LLC bought a new stake in Midland States Bancorp during the first quarter worth approximately $581,000. American Century Companies Inc. increased its holdings in shares of Midland States Bancorp by 16.0% in the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after buying an additional 55,555 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Midland States Bancorp by 60.1% in the 1st quarter. BNP Paribas Financial Markets now owns 20,702 shares of the financial services provider’s stock valued at $520,000 after purchasing an additional 7,770 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Midland States Bancorp during the 2nd quarter worth about $1,350,000. 60.93% of the stock is currently owned by institutional investors.

About Midland States Bancorp

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.