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

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have earned an average rating of “Hold” from the five brokerages that are covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $31.1250.

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Midland States Bancorp from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. DA Davidson raised their price target on shares of Midland States Bancorp from $30.00 to $33.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Piper Sandler lifted their price target on shares of Midland States Bancorp from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Midland States Bancorp in a research note on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd.

Midland States Bancorp Stock Up 0.9%

Shares of NASDAQ MSBI opened at $33.63 on Friday. The stock has a market capitalization of $697.82 million, a PE ratio of 21.56 and a beta of 0.65. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average of $32.83 and a 200-day moving average of $28.35. Midland States Bancorp has a 52-week low of $14.24 and a 52-week high of $35.10.

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

Midland States Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, August 14th. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.32. Midland States Bancorp’s dividend payout ratio (DPR) is presently 84.62%.

Insiders Place Their Bets

In related news, CEO Jeffrey Ludwig sold 8,383 shares of the stock in a transaction on Tuesday, July 28th. The stock was 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 directly owned 400,971 shares in the company, 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 the SEC website. Also, COO Kyle Mooney sold 2,400 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $33.33, for a total value of $79,992.00. Following the completion of the transaction, the chief operating officer directly owned 13,610 shares in the company, valued at $453,621.30. This trade represents a 14.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 12,470 shares of company stock valued at $421,374. 8.57% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc purchased a new position in Midland States Bancorp in the 2nd quarter valued at about $58,000. Ancora Advisors LLC bought a new position in Midland States Bancorp during the 2nd quarter worth approximately $144,000. Sequoia Financial Advisors LLC acquired a new position in shares of Midland States Bancorp in the 2nd quarter worth approximately $228,000. Vise Technologies Inc. acquired a new position in shares of Midland States Bancorp in the 2nd quarter worth approximately $287,000. Finally, Deutsche Bank AG bought a new stake in shares of Midland States Bancorp in the 2nd quarter valued at approximately $591,000. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

About Midland States Bancorp

Midland States Bancorp, Inc is the holding company for Midland States Bank, a community-focused financial institution headquartered in Effingham, Illinois. Founded in 1881, the bank serves individuals, families, businesses and agricultural customers through banking offices primarily across Illinois, Wisconsin and Ohio.

Midland States Bank offers a range of consumer and commercial banking products, including checking and savings accounts, certificates of deposit, residential mortgage lending, consumer loans, commercial real estate financing, business loans and agricultural lending.