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

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

Several other brokerages have also recently issued reports on MSBI. Piper Sandler increased their target price 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 dropped their target price on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a report on Monday, July 29th.

Midland States Bancorp Price Performance

Shares of NASDAQ:MSBI opened at $27.39 on Friday. The firm has a market cap of $586.15 million, a price-to-earnings ratio of 11.86 and a beta of 0.74. The firm has a fifty day moving average price of $23.98 and a 200 day moving average price of $23.13. 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 fifty-two week low of $20.54 and a fifty-two week high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. The company had revenue of $124.17 million for the quarter, compared to analysts’ expectations of $72.90 million. During the same period in the prior year, the business earned $0.78 EPS. As a group, sell-side analysts expect 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 stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the completion of the transaction, the chief executive officer now directly owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP raised its position in shares of Midland States Bancorp by 25.8% in the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 507 shares during the last quarter. Rhumbline Advisers raised its position in Midland States Bancorp by 2.1% during the 2nd quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider’s stock worth $761,000 after buying an additional 683 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Midland States Bancorp during the 3rd quarter worth approximately $31,000. EntryPoint Capital LLC purchased a new position in Midland States Bancorp during the 1st quarter worth approximately $42,000. Finally, Point72 Asset Management L.P. purchased a new position in Midland States Bancorp during the 3rd quarter worth approximately $45,000. 60.93% of the stock is owned by hedge funds and other 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.