Midland States Bancorp (NASDAQ:MSBI) Upgraded at StockNews.com

StockNews.com upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a hold rating to a buy rating in a research report sent to investors on Thursday.

Several other analysts also recently commented on MSBI. Keefe, Bruyette & Woods dropped their price objective 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. Piper Sandler boosted 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 Stock Up 0.0 %

NASDAQ:MSBI opened at $26.71 on Thursday. The company’s 50 day moving average is $23.53 and its two-hundred day moving average is $23.02. The company has a market cap of $571.59 million, a PE ratio of 11.56 and a beta of 0.74. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. Midland States Bancorp has a twelve month low of $20.54 and a twelve month high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.63 by $0.11. The business had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. During the same period in the prior year, the firm earned $0.78 EPS. Analysts anticipate that Midland States Bancorp will post 2.16 EPS for the current year.

Midland States Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Monday, November 18th. Midland States Bancorp’s dividend payout ratio is currently 53.68%.

Insiders Place Their Bets

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company’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 approximately $8,433,286.20. This represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Midland States Bancorp

A number of large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new stake in shares of Midland States Bancorp during the first quarter worth $1,106,000. Janney Montgomery Scott LLC purchased a new stake in shares of Midland States Bancorp during the first quarter worth $581,000. American Century Companies Inc. grew its holdings in shares of Midland States Bancorp by 16.0% during the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock worth $9,107,000 after buying an additional 55,555 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Midland States Bancorp by 60.1% during the first quarter. BNP Paribas Financial Markets now owns 20,702 shares of the financial services provider’s stock worth $520,000 after buying an additional 7,770 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Midland States Bancorp during the second quarter worth $1,350,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

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.