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

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

MSBI has been the subject of several other research reports. 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 research note on Tuesday, October 29th. Keefe, Bruyette & Woods lowered their target price on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research note on Monday, July 29th.

Midland States Bancorp Trading Up 0.0 %

Shares of MSBI opened at $26.71 on Thursday. 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 12-month low of $20.54 and a 12-month high of $28.47. The firm has a 50-day moving average price of $23.53 and a 200 day moving average price of $23.02. The firm has a market capitalization of $571.59 million, a P/E ratio of 11.56 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. The firm had revenue of $124.17 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm posted $0.78 earnings per share. Sell-side analysts forecast that Midland States Bancorp will post 2.16 EPS for the current year.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be given a dividend of $0.31 per share. The ex-dividend date is Monday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 4.64%. Midland States Bancorp’s dividend payout ratio is presently 53.68%.

Insider Transactions at Midland States Bancorp

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’s 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 sale, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $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 is available through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Midland States Bancorp

Several hedge funds have recently added to or reduced their stakes in MSBI. Point72 DIFC Ltd acquired a new stake in Midland States Bancorp in the third quarter valued at approximately $31,000. EntryPoint Capital LLC acquired a new stake in Midland States Bancorp during the first quarter worth approximately $42,000. Point72 Asset Management L.P. acquired a new stake in Midland States Bancorp during the third quarter worth approximately $45,000. Quantbot Technologies LP raised its holdings in Midland States Bancorp by 25.8% during the third 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% during the third 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 in the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

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.