Midland States Bancorp (NASDAQ:MSBI) Stock Rating Lowered by Wall Street Zen

Midland States Bancorp (NASDAQ:MSBI) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Other analysts also recently issued research reports about the company. Piper Sandler lifted their price objective on Midland States Bancorp from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Midland States Bancorp in a report on Monday, November 24th. Keefe, Bruyette & Woods decreased their price target on shares of Midland States Bancorp from $20.00 to $17.00 and set a “market perform” rating on the stock in a research note on Monday, November 3rd. Zacks Research lowered shares of Midland States Bancorp from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 6th. Finally, Stephens upgraded shares of Midland States Bancorp to a “hold” rating in a report on Thursday, September 11th. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Midland States Bancorp currently has an average rating of “Reduce” and an average price target of $19.50.

Midland States Bancorp Stock Down 1.6%

Shares of MSBI stock opened at $19.68 on Friday. The company’s fifty day simple moving average is $16.41 and its two-hundred day simple moving average is $17.23. Midland States Bancorp has a 52 week low of $14.24 and a 52 week high of $27.21. The stock has a market cap of $424.10 million, a P/E ratio of -15.50 and a beta of 0.69. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.95.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Wednesday, March 23rd. The financial services provider reported $0.54 earnings per share (EPS) for the quarter. The firm had revenue of $70.61 million for the quarter. Midland States Bancorp had a negative return on equity of 3.63% and a negative net margin of 3.80%. Analysts predict that Midland States Bancorp will post 2.53 EPS for the current fiscal year.

Midland States Bancorp declared that its board has approved a share repurchase program on Monday, November 3rd that permits the company to buyback $25.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 7.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Midland States Bancorp

In other Midland States Bancorp news, insider Daniel Edward Casey acquired 5,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were bought at an average price of $17.89 per share, with a total value of $89,450.00. Following the transaction, the insider directly owned 28,254 shares of the company’s stock, valued at $505,464.06. The trade was a 21.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jeremy Andrew Jameson bought 5,598 shares of Midland States Bancorp stock in a transaction on Wednesday, December 3rd. The stock was acquired at an average price of $17.69 per share, for a total transaction of $99,028.62. Following the purchase, the executive vice president owned 63,412 shares of the company’s stock, valued at approximately $1,121,758.28. This trade represents a 9.68% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 11,098 shares of company stock worth $197,324 over the last three months. 5.27% of the stock is currently owned by corporate insiders.

Institutional Trading of Midland States Bancorp

Large investors have recently made changes to their positions in the stock. Amundi increased its stake in Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after buying an additional 620 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in Midland States Bancorp in the 3rd quarter valued at about $46,000. Quantbot Technologies LP grew its stake in Midland States Bancorp by 162.5% in the 1st quarter. Quantbot Technologies LP now owns 5,585 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 3,457 shares in the last quarter. AlphaQuest LLC increased its position 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 acquiring an additional 8,989 shares during the period. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Midland States Bancorp during the third quarter valued at approximately $184,000. 60.93% of the stock is owned by hedge funds and other institutional investors.

About Midland States Bancorp

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.