Midland States Bancorp (NASDAQ:MSBI) Price Target Lowered to $23.00 at Piper Sandler

Midland States Bancorp (NASDAQ:MSBI) had its price objective reduced by Piper Sandler from $28.50 to $23.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

MSBI has been the topic of a number of other research reports. Keefe, Bruyette & Woods cut their price target on shares of Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a research note on Monday. StockNews.com downgraded Midland States Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, Midland States Bancorp currently has a consensus rating of “Hold” and an average target price of $23.50.

Midland States Bancorp Stock Down 3.9 %

Midland States Bancorp stock opened at $19.28 on Tuesday. Midland States Bancorp has a 1-year low of $18.75 and a 1-year high of $28.10. The business has a fifty day moving average price of $24.98 and a 200-day moving average price of $23.88. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $412.59 million, a price-to-earnings ratio of 8.35 and a beta of 0.76.

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 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%. Equities research analysts forecast that Midland States Bancorp will post 2.16 EPS for the current fiscal year.

Midland States Bancorp Announces Dividend

The firm also recently disclosed 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 6.43%. The ex-dividend date was Monday, November 18th. Midland States Bancorp’s dividend payout ratio (DPR) is currently 53.68%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP boosted its holdings in Midland States Bancorp by 25.8% in the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 507 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Midland States Bancorp in the 3rd quarter valued at about $31,000. R Squared Ltd purchased a new stake in shares of Midland States Bancorp in the fourth quarter worth about $39,000. Point72 Asset Management L.P. acquired a new stake in Midland States Bancorp during the third quarter worth about $45,000. Finally, SG Americas Securities LLC raised its position in Midland States Bancorp by 14.8% during the fourth quarter. SG Americas Securities LLC now owns 16,317 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 2,103 shares in the last quarter. Hedge funds and other institutional investors 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.