Midland States Bancorp, Inc. (NASDAQ:MSBI) Given Consensus Rating of “Hold” by Brokerages

Midland States Bancorp, Inc. (NASDAQ:MSBI) has received a consensus recommendation of “Hold” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $31.1250.

Several analysts have recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Midland States Bancorp in a research report on Friday, July 31st. DA Davidson lifted their price objective on Midland States Bancorp from $30.00 to $33.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods upped their target price on Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Wall Street Zen cut Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Piper Sandler raised their price target on Midland States Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th.

Insider Transactions at Midland States Bancorp

In related news, COO Kyle Mooney sold 2,400 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $33.33, for a total value of $79,992.00. Following the completion of the transaction, the chief operating officer owned 13,610 shares of the company’s stock, valued at approximately $453,621.30. The trade was a 14.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Ludwig sold 8,383 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total transaction of $285,022.00. Following the completion of the transaction, the chief executive officer owned 400,971 shares in the company, valued at approximately $13,633,014. This trade represents a 2.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 12,470 shares of company stock valued at $421,374. 8.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Midland States Bancorp

Institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Midland States Bancorp in the second quarter valued at $90,950,000. Patriot Financial Partners GP II L.P. acquired a new stake in Midland States Bancorp in the 1st quarter worth about $9,783,000. Rhino Investment Partners Inc boosted its stake in Midland States Bancorp by 22.5% in the 1st quarter. Rhino Investment Partners Inc now owns 320,288 shares of the financial services provider’s stock worth $7,146,000 after buying an additional 58,754 shares during the last quarter. Algert Global LLC grew its holdings in Midland States Bancorp by 46.1% in the 2nd quarter. Algert Global LLC now owns 200,545 shares of the financial services provider’s stock valued at $6,245,000 after buying an additional 63,314 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Midland States Bancorp by 9.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 198,525 shares of the financial services provider’s stock valued at $4,429,000 after buying an additional 16,637 shares during the period. Institutional investors and hedge funds own 60.93% of the company’s stock.

Midland States Bancorp Price Performance

Midland States Bancorp stock opened at $33.63 on Friday. The firm has a market capitalization of $697.82 million, a PE ratio of 21.56 and a beta of 0.65. Midland States Bancorp has a 52 week low of $14.24 and a 52 week high of $35.10. The firm’s 50-day simple moving average is $32.83 and its 200 day simple moving average is $28.35. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.73.

Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. The firm had revenue of $83.74 million during the quarter, compared to the consensus estimate of $80.70 million. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. On average, equities research analysts predict that Midland States Bancorp will post 3.4 EPS for the current fiscal year.

Midland States Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 14th. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.32. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.9%. Midland States Bancorp’s dividend payout ratio is 84.62%.

About Midland States Bancorp

Midland States Bancorp, Inc is the holding company for Midland States Bank, a community-focused financial institution headquartered in Effingham, Illinois. Founded in 1881, the bank serves individuals, families, businesses and agricultural customers through banking offices primarily across Illinois, Wisconsin and Ohio.

Midland States Bank offers a range of consumer and commercial banking products, including checking and savings accounts, certificates of deposit, residential mortgage lending, consumer loans, commercial real estate financing, business loans and agricultural lending.