Midland States Bancorp (NASDAQ:MSBI) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a hold rating to a buy rating in a research note published on Monday.

MSBI has been the topic of a number of other reports. Piper Sandler increased 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 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 research note on Wednesday, December 4th.

Midland States Bancorp Price Performance

Shares of MSBI opened at $22.99 on Monday. The firm has a 50-day simple moving average of $25.77 and a two-hundred day simple moving average of $23.84. The stock has a market cap of $492.01 million, a PE ratio of 9.95 and a beta of 0.76. Midland States Bancorp has a 1-year low of $20.54 and a 1-year high of $28.10. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The company had revenue of $124.17 million during the quarter, compared to analysts’ expectations 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 period last year, the business posted $0.78 EPS. As a group, analysts forecast that Midland States Bancorp will post 2.16 EPS for the current year.

Midland States Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.24 annualized dividend and a yield of 5.39%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Insider Buying and Selling

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction that occurred 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 sale, the chief executive officer now owns 343,935 shares in the company, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.60% of the stock is currently owned by company insiders.

Institutional Trading of Midland States Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 DIFC Ltd bought a new stake in Midland States Bancorp in the 3rd quarter valued at about $31,000. Point72 Asset Management L.P. bought a new stake in Midland States Bancorp during the third quarter worth approximately $45,000. Quantbot Technologies LP increased its position in shares of Midland States Bancorp by 25.8% during 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 period. US Bancorp DE raised its stake 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 buying an additional 2,229 shares in the last quarter. Finally, Quest Partners LLC bought a new position in Midland States Bancorp during the third quarter valued at about $148,000. 60.93% of the stock is owned by institutional investors.

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.