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

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have been assigned an average recommendation of “Hold” from the six research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $23.00.

A number of analysts have weighed in on the company. DA Davidson increased their price objective on Midland States Bancorp from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 26th. Piper Sandler boosted their price target on shares of Midland States Bancorp from $23.00 to $25.50 and gave the stock a “neutral” rating in a research note on Monday, January 26th. Keefe, Bruyette & Woods boosted their target price on Midland States Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Monday, December 8th. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 23rd.

Insiders Place Their Bets

In related news, COO Kyle Owen Mooney sold 2,808 shares of Midland States Bancorp stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of $22.67, for a total transaction of $63,657.36. Following the completion of the transaction, the chief operating officer directly owned 14,207 shares in the company, valued at $322,072.69. The trade was a 16.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel Edward Casey bought 5,000 shares of the stock in a transaction on Wednesday, December 3rd. The shares were bought at an average price of $17.89 per share, for a total transaction of $89,450.00. Following the acquisition, the insider owned 28,254 shares in the company, valued at $505,464.06. The trade was a 21.50% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 11,098 shares of company stock worth $197,324. Insiders own 5.27% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Several hedge funds have recently modified their holdings of MSBI. AQR Capital Management LLC boosted its holdings in shares of Midland States Bancorp by 38.1% during the second quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock worth $9,370,000 after purchasing an additional 149,175 shares during the last quarter. Algert Global LLC purchased a new position in Midland States Bancorp during the third quarter worth approximately $1,297,000. Los Angeles Capital Management LLC purchased a new stake in shares of Midland States Bancorp during the 2nd quarter valued at $1,006,000. Numerai GP LLC acquired a new stake in shares of Midland States Bancorp during the 3rd quarter worth $814,000. Finally, Jump Financial LLC grew its position in Midland States Bancorp by 272.5% during the second quarter. Jump Financial LLC now owns 55,500 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 40,600 shares during the period. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Trading Up 1.9%

NASDAQ:MSBI opened at $24.14 on Thursday. Midland States Bancorp has a 1 year low of $14.24 and a 1 year high of $24.57. The stock has a market cap of $520.22 million, a P/E ratio of 23.90 and a beta of 0.66. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a 50-day simple moving average of $21.38 and a 200-day simple moving average of $18.59.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.17). Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.41%. The company had revenue of $85.79 million during the quarter, compared to analyst estimates of $74.49 million. As a group, analysts anticipate 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 stock buyback plan on Monday, November 3rd that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Midland States Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, February 13th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date is Friday, February 13th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 126.73%.

About Midland States Bancorp

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.