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

Midland States Bancorp, Inc. (NASDAQ:MSBI) has been assigned a consensus rating of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $23.90.

A number of research analysts have recently weighed in on MSBI shares. UBS Group set a $25.50 price target on Midland States Bancorp in a research report on Monday, January 26th. Wall Street Zen upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Piper Sandler raised their price target on Midland States Bancorp from $25.50 to $28.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Finally, DA Davidson lifted their price objective on Midland States Bancorp from $23.00 to $26.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th.

Insider Transactions at Midland States Bancorp

In other Midland States Bancorp news, Director Travis Franklin purchased 9,400 shares of the firm’s 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 purchase, the director owned 9,400 shares in the company, valued at approximately $249,006. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.57% of the company’s stock.

Institutional Trading of Midland States Bancorp

A number of hedge funds have recently added to or reduced their stakes in MSBI. Amundi boosted its stake in Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after buying an additional 620 shares during the last quarter. Empowered Funds LLC boosted its stake in Midland States Bancorp by 3.5% in the 1st quarter. Empowered Funds LLC now owns 58,504 shares of the financial services provider’s stock worth $1,002,000 after buying an additional 2,004 shares during the last quarter. Jane Street Group LLC acquired a new stake in Midland States Bancorp in the 1st quarter worth about $354,000. Rhumbline Advisers boosted 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 buying an additional 1,687 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Midland States Bancorp by 18.1% in the 2nd quarter. Hsbc Holdings PLC now owns 33,166 shares of the financial services provider’s stock worth $577,000 after buying an additional 5,075 shares during the last quarter. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Price Performance

Midland States Bancorp stock opened at $26.55 on Friday. Midland States Bancorp has a one year low of $14.24 and a one year high of $28.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.78 and a current ratio of 0.78. The business has a fifty day moving average of $23.60 and a two-hundred day moving average of $21.51. The company has a market cap of $550.38 million, a P/E ratio of 22.50 and a beta of 0.66.

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

Midland States Bancorp announced that its Board of Directors has initiated a share repurchase program 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 programs are often an indication that the company’s management believes its shares are undervalued.

Midland States Bancorp Announces Dividend

The firm also recently declared 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. This represents a $1.28 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Friday, May 15th. Midland States Bancorp’s dividend payout ratio (DPR) is presently 108.47%.

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.