Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives Consensus Rating of “Reduce” from Analysts

Midland States Bancorp, Inc. (NASDAQ:MSBI) has received an average rating of “Reduce” from the six analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $20.00.

A number of analysts have weighed in on the stock. Zacks Research raised shares of Midland States Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Keefe, Bruyette & Woods raised their price objective on Midland States Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Monday, December 8th. Wall Street Zen lowered Midland States Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, December 29th. Finally, Piper Sandler lifted their price target on Midland States Bancorp from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd.

Midland States Bancorp Stock Up 2.9%

Shares of NASDAQ MSBI opened at $22.56 on Friday. The company has a market cap of $486.17 million, a price-to-earnings ratio of -17.76 and a beta of 0.66. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95. Midland States Bancorp has a 12 month low of $14.24 and a 12 month high of $25.08. The stock has a 50-day moving average price of $19.34 and a two-hundred day moving average price of $18.14.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.37). The company had revenue of $81.33 million during the quarter, compared to analyst estimates of $79.35 million. Midland States Bancorp had a negative net margin of 3.80% and a negative return on equity of 3.63%. As a group, analysts forecast that Midland States Bancorp will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp announced that its board has authorized a share buyback program on Monday, November 3rd that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 7.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Midland States Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 14th were given a dividend of $0.32 per share. The ex-dividend date was Friday, November 14th. This represents a $1.28 annualized dividend and a yield of 5.7%. Midland States Bancorp’s dividend payout ratio (DPR) is currently -100.79%.

Insider Activity at Midland States Bancorp

In other Midland States Bancorp news, insider Daniel Edward Casey purchased 5,000 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was purchased at an average price of $17.89 per share, with a total value of $89,450.00. Following the completion of the purchase, the insider owned 28,254 shares of the company’s stock, valued at approximately $505,464.06. The trade was a 21.50% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Jeremy Andrew Jameson purchased 5,598 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was bought at an average cost of $17.69 per share, with a total value 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 11,098 shares of company stock valued at $197,324. Corporate insiders own 5.27% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Several large investors have recently modified their holdings of the company. Voya Investment Management LLC bought a new stake in Midland States Bancorp during the first quarter valued at $344,000. Los Angeles Capital Management LLC bought a new position in shares of Midland States Bancorp in the 2nd quarter worth about $1,006,000. Creative Planning lifted its stake in shares of Midland States Bancorp by 155.7% in the 2nd quarter. Creative Planning now owns 53,091 shares of the financial services provider’s stock valued at $920,000 after purchasing an additional 32,329 shares during the period. Strs Ohio acquired a new position in shares of Midland States Bancorp in the 1st quarter valued at about $486,000. Finally, AlphaQuest LLC boosted its position in shares of Midland States Bancorp by 23,655.3% during the 2nd quarter. AlphaQuest LLC now owns 9,027 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 8,989 shares in the last quarter. 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.