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

Midland States Bancorp (NASDAQ:MSBI) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

MSBI has been the topic of several other reports. Keefe, Bruyette & Woods lowered their price target on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research note on Monday, July 29th. Piper Sandler upped their price objective on 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 Down 5.3 %

Midland States Bancorp stock opened at $26.49 on Wednesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.95 and a current ratio of 0.95. The business’s 50-day simple moving average is $23.00 and its 200-day simple moving average is $22.87. The firm has a market capitalization of $566.62 million, a PE ratio of 11.47 and a beta of 0.74. Midland States Bancorp has a 52 week low of $20.54 and a 52 week high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a return on equity of 9.00% and a net margin of 12.13%. The firm had revenue of $124.17 million for the quarter, compared to analyst estimates of $72.90 million. During the same period in the previous year, the company posted $0.78 earnings per share. Equities research analysts forecast that Midland States Bancorp will post 2.14 earnings per share for the current year.

Insider Transactions at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total value of $312,703.56. Following the transaction, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at $8,433,286.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in shares of Midland States Bancorp in the 1st quarter valued at $42,000. US Bancorp DE increased its position 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 valued at $85,000 after buying an additional 2,229 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Midland States Bancorp in the 3rd quarter valued at $148,000. Comerica Bank increased its position in shares of Midland States Bancorp by 950.4% in the 1st quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock valued at $188,000 after buying an additional 6,757 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Midland States Bancorp during the 2nd quarter worth about $218,000. Institutional investors and hedge funds 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.