StockNews.com Upgrades Midland States Bancorp (NASDAQ:MSBI) to Buy

Midland States Bancorp (NASDAQ:MSBI) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Other analysts also recently issued research reports about the company. Piper Sandler raised their price target on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods reduced their price target on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, July 29th.

Midland States Bancorp Stock Performance

Shares of Midland States Bancorp stock opened at $26.71 on Thursday. The firm has a market cap of $571.59 million, a PE ratio of 11.56 and a beta of 0.74. Midland States Bancorp has a 1 year low of $20.54 and a 1 year high of $28.47. The firm’s 50-day simple moving average is $23.53 and its 200-day simple moving average is $23.01. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.63 by $0.11. The company had revenue of $124.17 million during the quarter, compared to analyst estimates of $72.90 million. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. During the same quarter last year, the firm earned $0.78 EPS. Equities analysts forecast that Midland States Bancorp will post 2.16 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the transaction, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Trading of Midland States Bancorp

A number of large investors have recently added to or reduced their stakes in MSBI. Point72 DIFC Ltd purchased a new position in Midland States Bancorp in the 3rd quarter worth about $31,000. EntryPoint Capital LLC purchased a new stake in shares of Midland States Bancorp in the first quarter valued at $42,000. Point72 Asset Management L.P. acquired a new stake in shares of Midland States Bancorp in the third quarter worth $45,000. Quantbot Technologies LP grew its holdings in shares of Midland States Bancorp by 25.8% during the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after buying an additional 507 shares in the last quarter. Finally, US Bancorp DE raised its position in Midland States Bancorp by 141.6% during the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after buying an additional 2,229 shares during the period. 60.93% of the stock is currently owned by institutional investors.

About Midland States Bancorp

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.