Midland States Bancorp (NASDAQ:MSBI) Lowered to “Buy” at StockNews.com

Midland States Bancorp (NASDAQ:MSBI – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

NASDAQ MSBI opened at $26.45 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.75. The business has a fifty day simple moving average of $28.33 and a 200 day simple moving average of $27.04. Midland States Bancorp has a 12 month low of $22.50 and a 12 month high of $30.60. The firm has a market capitalization of $589.54 million, a P/E ratio of 7.19 and a beta of 0.88.

Midland States Bancorp (NASDAQ:MSBI – Get Rating) last announced its earnings results on Thursday, April 28th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.86 by $0.06. Midland States Bancorp had a net margin of 26.88% and a return on equity of 13.04%. During the same period in the prior year, the company earned $0.81 earnings per share. As a group, sell-side analysts predict that Midland States Bancorp will post 3.79 EPS for the current fiscal year.

In other news, President Jeffrey S. Mefford sold 6,602 shares of the stock in a transaction on Friday, February 18th. The stock was sold at an average price of $29.81, for a total transaction of $196,805.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.80% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. purchased a new position in Midland States Bancorp in the 1st quarter valued at approximately $4,934,000. Brown Advisory Inc. purchased a new position in shares of Midland States Bancorp in the fourth quarter valued at $3,247,000. Renaissance Technologies LLC raised its stake in shares of Midland States Bancorp by 375.6% during the 3rd quarter. Renaissance Technologies LLC now owns 103,708 shares of the financial services provider’s stock valued at $2,565,000 after purchasing an additional 81,900 shares during the period. BlackRock Inc. lifted its holdings in Midland States Bancorp by 3.4% during the 4th quarter. BlackRock Inc. now owns 2,087,998 shares of the financial services provider’s stock worth $51,764,000 after purchasing an additional 68,867 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Midland States Bancorp in the 4th quarter worth about $1,594,000. Institutional investors own 58.52% of the company’s stock.

Midland States Bancorp Company Profile (Get Rating)

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 accepts various deposits, such as checking, savings, money market, and sweep accounts, as well as certificates of deposits.

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