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

Midland States Bancorp, Inc. (NASDAQ:MSBI) has received an average rating of “Hold” from the six research firms that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $24.70.

Several brokerages recently commented on MSBI. Piper Sandler boosted their price target on Midland States Bancorp from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Weiss Ratings raised shares of Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th. DA Davidson boosted their price objective on Midland States Bancorp from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Zacks Research raised Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, May 24th.

Midland States Bancorp Trading Up 1.7%

Shares of Midland States Bancorp stock opened at $30.14 on Friday. Midland States Bancorp has a 1 year low of $14.24 and a 1 year high of $31.67. The company’s fifty day simple moving average is $28.67 and its 200-day simple moving average is $24.72. The company has a market cap of $624.80 million, a price-to-earnings ratio of 25.54 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $75.59 million. As a group, sell-side analysts expect that Midland States Bancorp will post 3.17 EPS for the current year.

Midland States Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 15th were given a $0.32 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.28 annualized dividend and a dividend yield of 4.2%. Midland States Bancorp’s payout ratio is currently 108.47%.

Midland States Bancorp announced that its board has initiated a share repurchase program on Wednesday, May 6th that allows the company to buyback $45.00 million in shares. This buyback authorization allows the financial services provider to repurchase up to 8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Midland States Bancorp

In related news, Director Travis Franklin acquired 9,400 shares of the stock in a transaction dated Tuesday, May 5th. The stock was bought at an average price of $26.49 per share, with a total value of $249,006.00. Following the completion of the transaction, the director directly owned 9,400 shares of the company’s stock, valued at approximately $249,006. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.57% of the stock is owned by company insiders.

Hedge Funds Weigh In On Midland States Bancorp

A number of large investors have recently bought and sold shares of MSBI. CANADA LIFE ASSURANCE Co boosted its holdings in Midland States Bancorp by 33.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 503 shares during the last quarter. Amundi lifted its position in Midland States Bancorp by 39.4% during 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 in the last quarter. Commonwealth Equity Services LLC lifted its position in Midland States Bancorp by 2.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 41,792 shares of the financial services provider’s stock worth $885,000 after buying an additional 992 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Midland States Bancorp by 8.1% during the 2nd quarter. First Trust Advisors LP now owns 14,385 shares of the financial services provider’s stock worth $249,000 after buying an additional 1,084 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Midland States Bancorp by 12.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,334 shares of the financial services provider’s stock valued at $262,000 after acquiring an additional 1,403 shares in the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

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.