Zacks Investment Research upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a sell rating to a buy rating in a research report released on Saturday. They currently have $38.00 price target on the financial services provider’s stock.

According to Zacks, “Midland States Bancorp, Inc. is a financial and bank holding company. It provides commercial and consumer banking products and services, merchant credit card services, trust and investment management, insurance and financial planning services. The company also offers commercial equipment leasing services which provided through Heartland Business Credit and multi-family and healthcare facility FHA financing is provided through Love Funding, Midland’s non-bank subsidiaries. Midland States Bancorp, Inc. is headquartered in Effingham, Illinois. “

Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods reiterated a buy rating and issued a $42.00 price objective on shares of Midland States Bancorp in a research note on Thursday, October 19th. BidaskClub upgraded Midland States Bancorp from a sell rating to a hold rating in a research note on Thursday, December 7th.

Shares of Midland States Bancorp (NASDAQ:MSBI) opened at $33.97 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 1.32. Midland States Bancorp has a 52 week low of $28.70 and a 52 week high of $36.50. The firm has a market capitalization of $654.06, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 1.86 and a beta of 2.21.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($0.09). Midland States Bancorp had a net margin of 11.90% and a return on equity of 10.22%. The firm had revenue of $52.17 million during the quarter, compared to analysts’ expectations of $55.20 million. equities research analysts expect that Midland States Bancorp will post 1.38 EPS for the current year.

In other news, Director Robert F. Schultz sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $31.17, for a total transaction of $62,340.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 8,000 shares of company stock valued at $257,800 in the last 90 days. Company insiders own 14.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Midland States Bancorp by 20.7% during the second quarter. FMR LLC now owns 843,862 shares of the financial services provider’s stock worth $28,286,000 after purchasing an additional 144,544 shares during the last quarter. Jacobs Asset Management LLC raised its stake in shares of Midland States Bancorp by 30.1% during the second quarter. Jacobs Asset Management LLC now owns 494,512 shares of the financial services provider’s stock worth $16,576,000 after purchasing an additional 114,512 shares during the last quarter. Vanguard Group Inc. grew its holdings in Midland States Bancorp by 41.0% during the second quarter. Vanguard Group Inc. now owns 461,065 shares of the financial services provider’s stock worth $15,455,000 after acquiring an additional 134,176 shares during the period. Bank of New York Mellon Corp grew its holdings in Midland States Bancorp by 6.0% during the second quarter. Bank of New York Mellon Corp now owns 450,846 shares of the financial services provider’s stock worth $15,112,000 after acquiring an additional 25,656 shares during the period. Finally, Capital Z Partners Management LLC acquired a new position in Midland States Bancorp during the second quarter worth $13,138,000. Institutional investors and hedge funds own 45.61% of the company’s stock.

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About Midland States Bancorp

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