Midland States Bancorp (NASDAQ:MSBI) Rating Lowered to “Hold” at StockNews.com

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

Several other research firms also recently commented on MSBI. Piper Sandler raised their price objective on shares of 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 raised their price target on Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th.

Midland States Bancorp Stock Performance

NASDAQ MSBI opened at $20.00 on Friday. The company has a market capitalization of $428.02 million, a PE ratio of 8.66 and a beta of 0.76. 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 has a 52-week low of $19.75 and a 52-week high of $28.10. The company has a 50-day simple moving average of $25.24 and a 200 day simple moving average of $23.93.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. On average, research analysts predict that Midland States Bancorp will post 2.16 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were 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 directly owns 343,935 shares in the company, valued at $8,433,286.20. The trade was a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Midland States Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in MSBI. Point72 DIFC Ltd purchased a new stake in shares of Midland States Bancorp during the 3rd quarter valued at $31,000. R Squared Ltd bought a new position in Midland States Bancorp in the fourth quarter valued at $39,000. Point72 Asset Management L.P. purchased a new stake in Midland States Bancorp during the third quarter valued at about $45,000. Quantbot Technologies LP lifted its stake in 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 worth $55,000 after purchasing an additional 507 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of Midland States Bancorp by 141.6% in the 3rd quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after purchasing an additional 2,229 shares in the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Company Profile

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.