Keefe, Bruyette & Woods Lowers Midland States Bancorp (NASDAQ:MSBI) Price Target to $26.00

Midland States Bancorp (NASDAQ:MSBI) had its price target decreased by Keefe, Bruyette & Woods from $28.00 to $26.00 in a report released on Tuesday, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

Separately, Piper Sandler decreased their price objective on Midland States Bancorp from $26.00 to $24.50 and set a neutral rating for the company in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, Midland States Bancorp currently has a consensus rating of Hold and an average price target of $25.63.

Midland States Bancorp Stock Performance

Shares of Midland States Bancorp stock opened at $23.75 on Tuesday. The company has a market capitalization of $518.94 million, a PE ratio of 8.08 and a beta of 0.79. The company has a 50-day simple moving average of $23.94 and a two-hundred day simple moving average of $24.44. Midland States Bancorp has a one year low of $17.98 and a one year high of $28.47. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.96 and a current ratio of 0.96.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. The firm had revenue of $122.86 million during the quarter, compared to analysts’ expectations of $75.05 million. During the same period in the previous year, the firm earned $0.88 EPS. Research analysts expect that Midland States Bancorp will post 2.79 EPS for the current fiscal year.

Midland States Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 16th were issued a $0.31 dividend. The ex-dividend date was Thursday, February 15th. This is a positive change from Midland States Bancorp’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.22%. Midland States Bancorp’s dividend payout ratio is currently 42.18%.

Institutional Investors Weigh In On Midland States Bancorp

A number of large investors have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its stake in Midland States Bancorp by 176.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 909 shares during the period. AJOVista LLC acquired a new position in Midland States Bancorp during the fourth quarter valued at $67,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Midland States Bancorp by 110.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,168 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 3,244 shares during the last quarter. International Assets Investment Management LLC grew its position in Midland States Bancorp by 2,688.1% during the 4th quarter. International Assets Investment Management LLC now owns 7,723 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 7,446 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of Midland States Bancorp during the 4th quarter valued at about $318,000. 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.