Midland States Bancorp (NASDAQ:MSBI) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other research analysts have also issued reports on the stock. DA Davidson increased their price target on shares of Midland States Bancorp from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Zacks Research raised shares of Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Piper Sandler upped their price objective on shares of Midland States Bancorp from $25.50 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Weiss Ratings raised shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Finally, UBS Group set a $25.50 price objective on shares of Midland States Bancorp in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Midland States Bancorp presently has an average rating of “Hold” and a consensus price target of $23.90.

Midland States Bancorp Stock Down 1.8%

Shares of MSBI opened at $26.55 on Friday. The company has a 50-day simple moving average of $23.60 and a 200-day simple moving average of $21.51. The firm has a market capitalization of $550.38 million, a P/E ratio of 22.50 and a beta of 0.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. Midland States Bancorp has a 52 week low of $14.24 and a 52 week high of $28.53.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.19. The business had revenue of $81.10 million during the quarter, compared to analyst estimates of $75.59 million. Midland States Bancorp had a net margin of 7.53% and a return on equity of 11.55%. On average, equities research analysts expect that Midland States Bancorp will post 3.17 earnings per share for the current year.

Midland States Bancorp declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 6th that allows the company to repurchase $45.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Midland States Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.28 dividend on an annualized basis and a yield of 4.8%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 108.47%.

Insider Transactions at Midland States Bancorp

In other Midland States Bancorp news, Director Travis Franklin acquired 9,400 shares of Midland States Bancorp stock in a transaction on Tuesday, May 5th. The shares were purchased at an average cost of $26.49 per share, with a total value of $249,006.00. Following the completion of the purchase, the director owned 9,400 shares in the company, valued at $249,006. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.57% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Several hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC grew its position in shares of Midland States Bancorp by 34.9% in the 4th quarter. Hsbc Holdings PLC now owns 47,004 shares of the financial services provider’s stock valued at $990,000 after acquiring an additional 12,172 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Midland States Bancorp by 9.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 86,502 shares of the financial services provider’s stock valued at $1,831,000 after acquiring an additional 7,216 shares during the period. Midland Wealth Advisors LLC grew its position in shares of Midland States Bancorp by 49.9% in the 4th quarter. Midland Wealth Advisors LLC now owns 21,384 shares of the financial services provider’s stock valued at $453,000 after acquiring an additional 7,114 shares during the period. SG Americas Securities LLC grew its position in shares of Midland States Bancorp by 45.9% in the 4th quarter. SG Americas Securities LLC now owns 12,539 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 3,944 shares during the period. Finally, Smith Moore & CO. bought a new position in shares of Midland States Bancorp in the 4th quarter valued at about $210,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

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.