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 morning.

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

Midland States Bancorp Stock Up 1.2 %

Shares of NASDAQ MSBI opened at $24.32 on Monday. Midland States Bancorp has a 1 year low of $20.54 and a 1 year high of $28.10. The firm’s 50-day moving average is $25.65 and its 200-day moving average is $23.86. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $520.47 million, a PE ratio of 10.53 and a beta of 0.76.

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 for 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 last year, the firm earned $0.78 earnings per share. Equities analysts expect that Midland States Bancorp will post 2.16 EPS for the current year.

Midland States Bancorp Announces Dividend

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 $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 5.10%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s dividend payout ratio (DPR) is 53.68%.

Insider Buying and Selling

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $24.52, for a total value of $312,703.56. Following the completion of the sale, the chief executive officer now directly owns 343,935 shares in the company, valued at $8,433,286.20. This 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 the SEC website. 5.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Midland States Bancorp

Institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its stake in Midland States Bancorp by 2.1% in the second quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider’s stock valued at $761,000 after buying an additional 683 shares in the last quarter. American Century Companies Inc. raised 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 acquiring an additional 55,555 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Midland States Bancorp by 9.9% during the second quarter. Hsbc Holdings PLC now owns 28,562 shares of the financial services provider’s stock worth $652,000 after acquiring an additional 2,562 shares during the period. Thrivent Financial for Lutherans lifted its position in Midland States Bancorp by 6.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 68,640 shares of the financial services provider’s stock valued at $1,554,000 after acquiring an additional 3,976 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in Midland States Bancorp in the 2nd quarter worth $1,350,000. Institutional investors own 60.93% of the company’s stock.

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.