Midland States Bancorp, Inc. (NASDAQ:MSBI) Stock Has Consensus Price Target of $31.12 According to Brokerages

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have been assigned an average recommendation of “Hold” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $31.12.

Several equities analysts recently weighed in on MSBI shares. Wall Street Zen lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Zacks Research lowered shares of Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. DA Davidson upped their target price on shares of Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Keefe, Bruyette & Woods upped their target price on shares of Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Finally, Weiss Ratings raised Midland States Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday.

Insider Transactions at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey Ludwig sold 8,383 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total value of $285,022.00. Following the transaction, the chief executive officer owned 400,971 shares of the company’s stock, valued at approximately $13,633,014. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Kyle Mooney sold 2,400 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $33.33, for a total transaction of $79,992.00. Following the sale, the chief operating officer directly owned 13,610 shares of the company’s stock, valued at $453,621.30. This represents a 14.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 12,470 shares of company stock worth $421,374. 8.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Midland States Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new position in Midland States Bancorp during the 3rd quarter worth approximately $25,000. Legal & General Group Plc bought a new position in shares of Midland States Bancorp in the second quarter valued at approximately $58,000. Ancora Advisors LLC purchased a new position in Midland States Bancorp during the second quarter valued at approximately $144,000. Sequoia Financial Advisors LLC purchased a new position in Midland States Bancorp during the second quarter valued at approximately $228,000. Finally, Vise Technologies Inc. bought a new stake in Midland States Bancorp during the 2nd quarter worth approximately $287,000. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Trading Up 1.4%

Shares of Midland States Bancorp stock opened at $32.30 on Tuesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.73. Midland States Bancorp has a 12-month low of $14.24 and a 12-month high of $35.10. The firm has a market capitalization of $670.23 million, a price-to-earnings ratio of 13.38 and a beta of 0.66. The firm’s 50 day simple moving average is $32.99 and its two-hundred day simple moving average is $29.93.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.78 by $0.04. The business 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%. Analysts predict that Midland States Bancorp will post 3.43 EPS for the current year.

Midland States Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a $0.33 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.1%. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.32. Midland States Bancorp’s dividend payout ratio is currently 84.62%.

About Midland States Bancorp

Midland States Bancorp, Inc is a financial holding company headquartered in Effingham, Illinois. Through its principal subsidiary, Midland States Bank, the company provides banking and related financial services to consumers, businesses and institutions.

Midland States Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, consumer loans, treasury management and other business banking services. Its service offerings also include wealth management, trust and investment services, mortgage banking and equipment financing.

The company traces its banking operations to 1881 and serves customers primarily through a regional branch network and digital banking channels in the Midwest, with a significant presence in Illinois and additional operations in surrounding states.