Midland States Bancorp, Inc. (NASDAQ:MSBI) Given Consensus Recommendation of “Hold” by Analysts

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have earned a consensus recommendation of “Hold” from the six analysts that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $29.10.

MSBI has been the topic of a number of research analyst reports. Zacks Research raised Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Midland States Bancorp in a report on Friday, July 31st. Keefe, Bruyette & Woods increased their price objective on Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. DA Davidson raised their price objective on Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Finally, Piper Sandler boosted their target price on Midland States Bancorp from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th.

Midland States Bancorp Price Performance

Shares of NASDAQ:MSBI opened at $32.85 on Monday. The company’s fifty day moving average price is $31.69 and its 200-day moving average price is $27.01. The firm has a market capitalization of $681.70 million, a price-to-earnings ratio of 21.06 and a beta of 0.66. Midland States Bancorp has a one year low of $14.24 and a one year high of $35.10. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.78 and a quick ratio of 0.78.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. Midland States Bancorp had a net margin of 9.40% and a return on equity of 13.32%. The company had revenue of $83.74 million during the quarter, compared to the consensus estimate of $80.70 million. On average, equities research analysts anticipate that Midland States Bancorp will post 3.4 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.0%. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, August 14th. Midland States Bancorp’s payout ratio is 84.62%.

Midland States Bancorp declared that its board has approved a stock repurchase program on Wednesday, May 6th that allows the company to buyback $45.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Jeffrey G. Ludwig sold 8,383 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $34.00, for a total value of $285,022.00. Following the completion of the sale, the chief executive officer owned 400,971 shares of the company’s stock, valued at approximately $13,633,014. This represents a 2.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Kyle Owen Mooney sold 1,198 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $33.51, for a total transaction of $40,144.98. Following the transaction, the chief operating officer directly owned 14,099 shares in the company, valued at approximately $472,457.49. This represents a 7.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 10,070 shares of company stock valued at $341,382. Company insiders own 8.57% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Amundi lifted its stake in shares of Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 620 shares during the last quarter. Empowered Funds LLC grew its position in Midland States Bancorp by 3.5% during the 1st quarter. Empowered Funds LLC now owns 58,504 shares of the financial services provider’s stock worth $1,002,000 after acquiring an additional 2,004 shares during the last quarter. Jane Street Group LLC purchased a new position in Midland States Bancorp in the 1st quarter worth approximately $354,000. Rhumbline Advisers increased its stake in Midland States Bancorp by 5.5% in the 2nd quarter. Rhumbline Advisers now owns 32,343 shares of the financial services provider’s stock worth $560,000 after purchasing an additional 1,687 shares during the period. Finally, Hsbc Holdings PLC lifted its position in Midland States Bancorp by 18.1% in the second quarter. Hsbc Holdings PLC now owns 33,166 shares of the financial services provider’s stock valued at $577,000 after purchasing an additional 5,075 shares during the last quarter. 60.93% of the stock is owned by institutional investors.

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.