Midland States Bancorp (NASDAQ:MSBI) Stock Price Passes Above 50 Day Moving Average – Here’s Why

Midland States Bancorp, Inc. (NASDAQ:MSBI)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $26.78 and traded as high as $29.85. Midland States Bancorp shares last traded at $29.43, with a volume of 291,269 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MSBI. Wall Street Zen cut shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, May 24th. DA Davidson upped their target price on Midland States Bancorp from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Piper Sandler increased their price target on Midland States Bancorp from $25.50 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Weiss Ratings upgraded Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Finally, Zacks Research raised Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.90.

Midland States Bancorp Stock Up 1.1%

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.71. The firm’s 50-day moving average price is $26.78 and its 200 day moving average price is $23.65. The firm has a market cap of $610.08 million, a P/E ratio of 24.94 and a beta of 0.67.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.19. The firm had revenue of $81.10 million for the quarter, compared to the consensus estimate of $75.59 million. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.55%. As a group, research analysts expect that Midland States Bancorp, Inc. will post 3.17 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 15th were paid a $0.32 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.28 annualized dividend and a dividend yield of 4.3%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 108.47%.

Midland States Bancorp announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 6th that permits the company to repurchase $45.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, Director Travis Franklin purchased 9,400 shares of the business’s stock in a transaction dated Tuesday, May 5th. The shares were bought at an average price of $26.49 per share, with a total value of $249,006.00. Following the completion of the acquisition, the director owned 9,400 shares in the company, valued at approximately $249,006. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.57% of the company’s stock.

Institutional Trading of Midland States Bancorp

Several large investors have recently added to or reduced their stakes in MSBI. Amundi raised its stake in Midland States Bancorp by 39.4% during the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 620 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Midland States Bancorp by 33.1% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 503 shares during the period. CIBC Private Wealth Group LLC bought a new position in shares of Midland States Bancorp in the third quarter worth $46,000. Quadrant Capital Group LLC grew its stake in shares of Midland States Bancorp by 302.7% in the fourth quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 3,457 shares in the last quarter. Finally, Daytona Street Capital LLC acquired a new position in shares of Midland States Bancorp during the fourth quarter valued at $107,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

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.