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

StockNews.com downgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a buy rating to a hold rating in a research note published on Friday morning.

A number of other research firms have also weighed in on MSBI. Piper Sandler raised their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods cut their target price on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, July 29th.

Midland States Bancorp Trading Up 0.1 %

Shares of MSBI opened at $27.41 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. Midland States Bancorp has a 1 year low of $20.54 and a 1 year high of $28.47. The company has a 50 day simple moving average of $23.98 and a two-hundred day simple moving average of $23.12. The firm has a market cap of $586.57 million, a P/E ratio of 11.99 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. The business had revenue of $124.17 million during the quarter, compared to analyst estimates of $72.90 million. During the same period last year, the firm posted $0.78 EPS. On average, equities analysts expect 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 announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Insider Buying and Selling

In related 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 completion of the sale, the chief executive officer now directly owns 343,935 shares in the company, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is owned by corporate insiders.

Institutional Trading of Midland States Bancorp

A number of institutional investors have recently bought and sold shares of MSBI. Russell Investments Group Ltd. lifted its position in Midland States Bancorp by 7.4% in the first 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 during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Midland States Bancorp during the first quarter worth $1,106,000. EntryPoint Capital LLC bought a new stake in shares of Midland States Bancorp during the first quarter worth $42,000. Comerica Bank lifted its position in shares of Midland States Bancorp by 950.4% during the first quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 6,757 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Midland States Bancorp during the second quarter worth $218,000. 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.