Midland States Bancorp (NASDAQ:MSBI) Price Target Cut to $23.00 by Analysts at Keefe, Bruyette & Woods

Midland States Bancorp (NASDAQ:MSBI) had its price objective cut by Keefe, Bruyette & Woods from $28.00 to $23.00 in a report published on Monday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

MSBI has been the subject of several other research reports. StockNews.com downgraded shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday. Piper Sandler upped their target price on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th.

Midland States Bancorp Trading Up 0.4 %

MSBI opened at $20.07 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $429.50 million, a price-to-earnings ratio of 8.69 and a beta of 0.76. The firm has a 50 day simple moving average of $25.12 and a 200 day simple moving average of $23.91. Midland States Bancorp has a fifty-two week low of $19.51 and a fifty-two week high of $28.10.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share for the quarter, missing analysts’ consensus estimates 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, sell-side analysts anticipate that Midland States Bancorp will post 2.16 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 6.18%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s payout ratio is presently 53.68%.

Institutional Investors Weigh In On Midland States Bancorp

Several large investors have recently made changes to their positions in the stock. R Squared Ltd bought a new stake in shares of Midland States Bancorp during the fourth quarter worth $39,000. SG Americas Securities LLC increased its position in shares of Midland States Bancorp by 14.8% during the fourth quarter. SG Americas Securities LLC now owns 16,317 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 2,103 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Midland States Bancorp by 52.3% during the third quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock worth $2,469,000 after acquiring an additional 37,889 shares in the last quarter. Barclays PLC increased its position in shares of Midland States Bancorp by 55.2% during the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock worth $1,463,000 after acquiring an additional 23,242 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Midland States Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock worth $11,460,000 after acquiring an additional 2,294 shares in the last quarter. Institutional investors own 60.93% of the company’s stock.

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.