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 released on Monday.

A number of other equities research analysts also recently weighed in on MSBI. Piper Sandler lifted their target price on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price objective on Midland States Bancorp from $24.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th.

Midland States Bancorp Stock Performance

Shares of NASDAQ MSBI opened at $24.32 on Monday. Midland States Bancorp has a 12 month low of $20.54 and a 12 month high of $28.10. The company has a market cap of $520.47 million, a P/E ratio of 10.53 and a beta of 0.76. The business’s 50 day moving average is $25.65 and its two-hundred day moving average is $23.86. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results 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 firm had revenue of $124.17 million during the quarter, compared to analysts’ expectations 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 company earned $0.78 EPS. On average, equities analysts expect that Midland States Bancorp will post 2.16 EPS for the current year.

Midland States Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a $0.31 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 5.10%. Midland States Bancorp’s dividend payout ratio is currently 53.68%.

Insider Transactions at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction on Tuesday, October 29th. The stock was 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 of the company’s stock, valued at approximately $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Midland States Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MSBI. Hotchkis & Wiley Capital Management LLC bought a new stake in Midland States Bancorp during the 3rd quarter worth approximately $5,764,000. Bank of Montreal Can acquired a new position in shares of Midland States Bancorp during the second quarter worth approximately $1,350,000. American Century Companies Inc. lifted its position 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 purchasing an additional 55,555 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Midland States Bancorp by 52.3% during the third quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock valued at $2,469,000 after purchasing an additional 37,889 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Midland States Bancorp by 55.2% in the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock valued at $1,463,000 after purchasing an additional 23,242 shares in the last quarter. 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.