Midland States Bancorp (NASDAQ:MSBI) Cut to “Sell” at Wall Street Zen

Midland States Bancorp (NASDAQ:MSBI) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods reduced their price objective on shares of Midland States Bancorp from $21.00 to $20.00 and set a “market perform” rating on the stock in a research report on Friday, May 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $21.00 target price (up from $18.00) on shares of Midland States Bancorp in a research report on Friday, July 11th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Midland States Bancorp currently has a consensus rating of “Hold” and an average price target of $20.67.

Midland States Bancorp Stock Up 7.0%

Shares of NASDAQ MSBI opened at $18.48 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 1.36. Midland States Bancorp has a 52 week low of $14.79 and a 52 week high of $28.08. The firm’s fifty day moving average is $17.72 and its 200 day moving average is $17.68. The company has a market cap of $397.87 million, a price-to-earnings ratio of -24.00 and a beta of 0.77.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.19). The company had revenue of $82.50 million for the quarter, compared to analysts’ expectations of $75.76 million. Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.23%. On average, equities research analysts expect that Midland States Bancorp will post 2.53 earnings per share for the current year.

Hedge Funds Weigh In On Midland States Bancorp

Institutional investors have recently made changes to their positions in the business. Amundi increased its holdings in Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 620 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Midland States Bancorp by 0.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 90,032 shares of the financial services provider’s stock valued at $2,197,000 after purchasing an additional 845 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in shares of Midland States Bancorp by 5.3% in the second quarter. Valeo Financial Advisors LLC now owns 19,126 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 955 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Midland States Bancorp by 8.1% in the second quarter. First Trust Advisors LP now owns 14,385 shares of the financial services provider’s stock valued at $249,000 after purchasing an additional 1,084 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its holdings in shares of Midland States Bancorp by 5.9% in the second quarter. Campbell & CO Investment Adviser LLC now owns 27,459 shares of the financial services provider’s stock valued at $476,000 after purchasing an additional 1,531 shares in the last quarter. 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.