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

Midland States Bancorp (NASDAQ:MSBI) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

A number of other research analysts have also recently commented on MSBI. Piper Sandler raised their price target on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 29th. Keefe, Bruyette & Woods cut their price target on shares of 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 Trading Down 1.0 %

NASDAQ MSBI opened at $27.07 on Thursday. Midland States Bancorp has a 1-year low of $20.54 and a 1-year high of $28.47. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $579.33 million, a PE ratio of 11.72 and a beta of 0.74. The firm’s fifty day simple moving average is $23.35 and its 200-day simple moving average is $22.96.

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

Insiders Place Their Bets

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were 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 of the company’s stock, valued at approximately $8,433,286.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new stake in shares of Midland States Bancorp during the 1st quarter worth approximately $1,106,000. Janney Montgomery Scott LLC acquired a new stake in shares of Midland States Bancorp during the 1st quarter worth approximately $581,000. American Century Companies Inc. boosted its position in shares of Midland States Bancorp by 16.0% during the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock worth $9,107,000 after acquiring an additional 55,555 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in 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 last quarter. Finally, Bank of Montreal Can bought a new position in Midland States Bancorp in the 2nd quarter valued at approximately $1,350,000. Institutional investors and hedge funds own 60.93% of the company’s stock.

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.