DA Davidson Has Lowered Expectations for Midland States Bancorp (NASDAQ:MSBI) Stock Price

Midland States Bancorp (NASDAQ:MSBI) had its price objective reduced by analysts at DA Davidson from $27.00 to $21.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective would indicate a potential upside of 10.24% from the company’s previous close.

A number of other research firms have also commented on MSBI. Piper Sandler reduced their price target on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods reduced their price objective on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, StockNews.com lowered shares of Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.50.

Midland States Bancorp Stock Down 5.1 %

Shares of Midland States Bancorp stock traded down $1.02 during trading on Tuesday, hitting $19.05. 74,054 shares of the stock traded hands, compared to its average volume of 115,222. Midland States Bancorp has a twelve month low of $18.94 and a twelve month high of $28.10. The stock has a market cap of $407.67 million, a P/E ratio of 8.27 and a beta of 0.76. The company has a fifty day moving average price of $25.12 and a two-hundred day moving average price of $23.91. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last issued 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 net margin of 12.13% and a return on equity of 8.90%. Equities research analysts predict that Midland States Bancorp will post 2.16 EPS for the current fiscal year.

Institutional Trading of Midland States Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of Midland States Bancorp by 2.5% in the third quarter. State Street Corp now owns 587,947 shares of the financial services provider’s stock valued at $13,158,000 after purchasing an additional 14,157 shares during the period. Geode Capital Management LLC lifted its position in shares of Midland States Bancorp by 0.5% in the third quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock worth $11,460,000 after purchasing an additional 2,294 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Midland States Bancorp in the third quarter valued at approximately $5,764,000. JPMorgan Chase & Co. raised its position in shares of Midland States Bancorp by 52.3% in 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 period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Midland States Bancorp by 31.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock worth $1,996,000 after buying an additional 21,416 shares in the last quarter. Hedge funds and other 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.