Midland States Bancorp (NASDAQ:MSBI) Lowered to Hold Rating by StockNews.com

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

Several other research firms also recently issued reports on MSBI. Piper Sandler upped their price objective on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods lowered their price objective 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.

Midland States Bancorp Stock Down 0.0 %

Shares of NASDAQ MSBI opened at $26.48 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10. The company has a market cap of $566.70 million, a price-to-earnings ratio of 11.46 and a beta of 0.74. Midland States Bancorp has a 12 month low of $20.54 and a 12 month high of $28.47. The stock has a 50-day moving average price of $23.07 and a two-hundred day moving average price of $22.88.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a return on equity of 9.00% and a net margin of 12.13%. The firm had revenue of $124.17 million during the quarter, compared to the consensus estimate of $72.90 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. As a group, analysts forecast that Midland States Bancorp will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date of this dividend is Monday, November 18th. Midland States Bancorp’s dividend payout ratio is presently 53.68%.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 343,935 shares of the company’s stock, valued at approximately $8,433,286.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of MSBI. BNP Paribas Financial Markets boosted its holdings in shares of Midland States Bancorp by 60.1% during the 1st quarter. BNP Paribas Financial Markets now owns 20,702 shares of the financial services provider’s stock worth $520,000 after buying an additional 7,770 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Midland States Bancorp during the 1st quarter worth approximately $581,000. Empowered Funds LLC boosted its holdings in shares of Midland States Bancorp by 8.2% during the 1st quarter. Empowered Funds LLC now owns 64,859 shares of the financial services provider’s stock worth $1,630,000 after buying an additional 4,900 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Midland States Bancorp by 7.4% during the 1st quarter. Russell Investments Group Ltd. now owns 92,589 shares of the financial services provider’s stock worth $2,327,000 after buying an additional 6,371 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Midland States Bancorp during the 1st quarter worth approximately $1,106,000. 60.93% of the stock is currently owned by 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.