Midland States Bancorp (NASDAQ:MSBI) Given New $21.00 Price Target at DA Davidson

Midland States Bancorp (NASDAQ:MSBI) had its price target trimmed by DA Davidson from $27.00 to $21.00 in a report published on Tuesday,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. Piper Sandler cut their price target on shares of Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday. Keefe, Bruyette & Woods reduced their target price on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating for the company in a report on Monday. Finally, StockNews.com cut Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.50.

Midland States Bancorp Stock Down 3.9 %

Shares of NASDAQ:MSBI opened at $19.28 on Tuesday. Midland States Bancorp has a 12-month low of $18.75 and a 12-month high of $28.10. The stock has a market capitalization of $412.59 million, a price-to-earnings ratio of 8.35 and a beta of 0.76. The stock has a fifty day simple moving average of $24.98 and a two-hundred day simple moving average of $23.88. 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 (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts anticipate that Midland States Bancorp will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued 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 dividend yield of 6.43%. Midland States Bancorp’s payout ratio is 53.68%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MSBI. Point72 DIFC Ltd purchased a new position in shares of Midland States Bancorp in the third quarter worth approximately $31,000. R Squared Ltd purchased a new position in shares of Midland States Bancorp during the 4th quarter worth $39,000. Point72 Asset Management L.P. bought a new stake in shares of Midland States Bancorp during the 3rd quarter valued at $45,000. Quantbot Technologies LP increased its stake 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 worth $55,000 after purchasing an additional 507 shares in the last quarter. Finally, US Bancorp DE raised its holdings in 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 purchasing an additional 2,229 shares during the period. 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.