Wells Fargo & Company MN Acquires 2,630 Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI)

Wells Fargo & Company MN increased its stake in shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) by 22.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,580 shares of the financial services provider’s stock after acquiring an additional 2,630 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of Midland States Bancorp worth $356,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in shares of Midland States Bancorp by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 518,209 shares of the financial services provider’s stock worth $12,648,000 after purchasing an additional 6,273 shares during the period. American Century Companies Inc. grew its position in Midland States Bancorp by 7.2% during the fourth quarter. American Century Companies Inc. now owns 475,642 shares of the financial services provider’s stock worth $11,606,000 after buying an additional 31,859 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Midland States Bancorp by 36.9% during the fourth quarter. Bank of New York Mellon Corp now owns 209,244 shares of the financial services provider’s stock valued at $5,106,000 after acquiring an additional 56,441 shares during the period. JPMorgan Chase & Co. raised its holdings in Midland States Bancorp by 33.8% in the 4th quarter. JPMorgan Chase & Co. now owns 147,560 shares of the financial services provider’s stock valued at $3,600,000 after acquiring an additional 37,254 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Midland States Bancorp by 43.1% in the 4th quarter. Prudential Financial Inc. now owns 142,029 shares of the financial services provider’s stock valued at $3,466,000 after acquiring an additional 42,800 shares in the last quarter. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MSBI has been the topic of several analyst reports. StockNews.com raised shares of Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Monday. DA Davidson lowered their target price on shares of Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods cut their price target on shares of Midland States Bancorp from $21.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday. Finally, Piper Sandler lowered their price objective on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th.

Midland States Bancorp Stock Down 2.2 %

Shares of NASDAQ:MSBI opened at $17.92 on Tuesday. The company’s fifty day moving average is $17.26 and its 200-day moving average is $21.56. 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, Inc. has a 52 week low of $14.79 and a 52 week high of $28.08. The company has a market capitalization of $383.51 million, a PE ratio of -17.07 and a beta of 0.72.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $76.16 million for the quarter, compared to analyst estimates of $72.93 million. Midland States Bancorp had a negative net margin of 2.74% and a negative return on equity of 1.95%. Equities research analysts predict that Midland States Bancorp, Inc. will post 2.53 earnings per share for the current fiscal year.

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.