Stephens Lowers Midland States Bancorp (NASDAQ:MSBI) to Equal Weight

Midland States Bancorp (NASDAQ:MSBI) was downgraded by Stephens from an “overweight” rating to an “equal weight” rating in a research report issued on Wednesday, October 13th, Price Targets.com reports. They presently have a $28.00 target price on the financial services provider’s stock. Stephens’ price target indicates a potential upside of 7.32% from the stock’s current price.

Separately, Zacks Investment Research downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, October 1st.

Shares of MSBI stock traded up $0.57 during trading hours on Wednesday, reaching $26.09. 75,801 shares of the company’s stock were exchanged, compared to its average volume of 83,030. The stock’s 50 day moving average is $24.90 and its 200-day moving average is $26.25. The company has a market cap of $584.29 million, a price-to-earnings ratio of 12.45 and a beta of 1.10. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.97. Midland States Bancorp has a fifty-two week low of $13.51 and a fifty-two week high of $30.32.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Wednesday, July 21st. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by ($0.47). Midland States Bancorp had a net margin of 15.31% and a return on equity of 9.94%. The firm had revenue of $67.53 million during the quarter, compared to analyst estimates of $67.90 million. Equities analysts anticipate that Midland States Bancorp will post 3.45 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its position in Midland States Bancorp by 282.9% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,206 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 891 shares during the period. Proequities Inc. acquired a new stake in Midland States Bancorp during the 1st quarter worth about $37,000. Metropolitan Life Insurance Co NY grew its position in Midland States Bancorp by 101,128.6% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 7,086 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 7,079 shares during the period. Public Employees Retirement System of Ohio grew its position in Midland States Bancorp by 1,813.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,596 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 7,199 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in Midland States Bancorp during the 1st quarter worth about $208,000. 57.90% of the stock is currently owned by institutional investors.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a bank holding company, which engages in the provision of commercial and consumer banking products and services. It operates through the following segments: Banking, Wealth Management, and Other. The Banking segment offers financial products and services such as loans, mortgage loan sales and servicing, letters of credit, deposit products, merchant services, and corporate treasury management services.

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