Piper Sandler Lowers Midland States Bancorp (NASDAQ:MSBI) Price Target to $23.00

Midland States Bancorp (NASDAQ:MSBI) had its price target cut by equities researchers at Piper Sandler from $28.50 to $23.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 16.93% from the stock’s current price.

Several other research analysts have also commented on MSBI. StockNews.com lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods cut their price objective on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a research report on Monday. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.50.

Midland States Bancorp Stock Performance

Shares of Midland States Bancorp stock opened at $19.67 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. The firm has a market cap of $420.96 million, a PE ratio of 8.52 and a beta of 0.76. The business’s fifty day simple moving average is $24.84 and its 200-day simple moving average is $23.86. Midland States Bancorp has a 52 week low of $18.75 and a 52 week high of $28.10.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. Equities analysts forecast that Midland States Bancorp will post 2.16 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Point72 DIFC Ltd purchased a new position in Midland States Bancorp in the third quarter valued at approximately $31,000. R Squared Ltd purchased a new position in shares of Midland States Bancorp in the 4th quarter valued at $39,000. Point72 Asset Management L.P. acquired a new stake in Midland States Bancorp during the 3rd quarter worth $45,000. Quantbot Technologies LP lifted its position in Midland States Bancorp by 25.8% in 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 boosted its stake in Midland States Bancorp by 141.6% in 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 in the last quarter. Hedge funds and other institutional investors 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.