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

Midland States Bancorp, Inc. (NASDAQ:MSBI) has been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.00.

MSBI has been the subject of a number of recent analyst reports. DA Davidson lifted their target price on shares of Midland States Bancorp from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, January 26th. UBS Group set a $25.50 target price on Midland States Bancorp in a research report on Monday, January 26th. Piper Sandler raised their target price on shares of Midland States Bancorp from $23.00 to $25.50 and gave the stock a “neutral” rating in a report on Monday, January 26th. Keefe, Bruyette & Woods upped their price objective on Midland States Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Monday, December 8th. Finally, Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd.

Insider Buying and Selling

In other news, EVP Jeremy Andrew Jameson purchased 5,598 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were purchased at an average price of $17.69 per share, with a total value of $99,028.62. Following the transaction, the executive vice president owned 63,412 shares in the company, valued at $1,121,758.28. The trade was a 9.68% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel Edward Casey purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was purchased at an average cost of $17.89 per share, with a total value of $89,450.00. Following the purchase, the insider owned 28,254 shares in the company, valued at approximately $505,464.06. This trade represents a 21.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 11,098 shares of company stock worth $197,324. 5.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Midland States Bancorp

Institutional investors have recently bought and sold shares of the company. Amundi boosted its holdings in Midland States Bancorp by 39.4% in the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 620 shares during the period. CIBC Private Wealth Group LLC purchased a new position in shares of Midland States Bancorp in the 3rd quarter valued at about $46,000. Daytona Street Capital LLC acquired a new position in shares of Midland States Bancorp during the fourth quarter worth about $107,000. Quantbot Technologies LP increased its stake in shares of Midland States Bancorp by 32.0% during the second quarter. Quantbot Technologies LP now owns 7,372 shares of the financial services provider’s stock worth $128,000 after buying an additional 1,787 shares during the period. Finally, AlphaQuest LLC increased its stake in shares of Midland States Bancorp by 23,655.3% during the second quarter. AlphaQuest LLC now owns 9,027 shares of the financial services provider’s stock worth $156,000 after buying an additional 8,989 shares during the period. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Stock Up 1.9%

Shares of NASDAQ:MSBI opened at $24.14 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $21.38 and its 200 day moving average is $18.59. The stock has a market cap of $520.22 million, a P/E ratio of 23.90 and a beta of 0.66. Midland States Bancorp has a 52-week low of $14.24 and a 52-week high of $24.57.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.17). Midland States Bancorp had a return on equity of 10.41% and a net margin of 6.62%.The business had revenue of $85.79 million during the quarter, compared to analysts’ expectations of $74.49 million. Sell-side analysts predict that Midland States Bancorp will post 2.53 EPS for the current year.

Midland States Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 13th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Friday, February 13th. Midland States Bancorp’s dividend payout ratio is 126.73%.

Midland States Bancorp announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 3rd that allows the company to buyback $25.00 million in shares. This buyback authorization allows the financial services provider to buy up to 7.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.