Midland States Bancorp’s (MSBI) “Sell (D)” Rating Reiterated at Weiss Ratings

Weiss Ratings restated their sell (d) rating on shares of Midland States Bancorp (NASDAQ:MSBI) in a research note published on Tuesday,Weiss Ratings reports.

MSBI has been the topic of a number of other reports. Piper Sandler restated a “neutral” rating and issued a $21.00 target price (up from $18.00) on shares of Midland States Bancorp in a report on Friday, July 11th. Wall Street Zen raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Finally, Stephens raised shares of Midland States Bancorp to a “hold” rating in a research report on Thursday, September 11th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $20.75.

Midland States Bancorp Price Performance

Shares of MSBI opened at $15.61 on Tuesday. Midland States Bancorp has a twelve month low of $14.79 and a twelve month high of $28.08. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.02. The firm has a 50 day moving average of $17.57 and a 200 day moving average of $17.34. The company has a market capitalization of $336.24 million, a P/E ratio of -20.27 and a beta of 0.72.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Wednesday, March 23rd. The financial services provider reported $0.54 earnings per share for the quarter. Midland States Bancorp had a negative net margin of 1.50% and a negative return on equity of 1.30%. The business had revenue of $70.61 million for the quarter. As a group, equities research analysts anticipate that Midland States Bancorp will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were given a dividend of $0.32 per share. The ex-dividend date was Friday, August 15th. This is an increase from Midland States Bancorp’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 8.2%. Midland States Bancorp’s dividend payout ratio (DPR) is -166.23%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in shares of Midland States Bancorp by 100.7% during the 1st quarter. AQR Capital Management LLC now owns 391,822 shares of the financial services provider’s stock worth $6,708,000 after acquiring an additional 196,555 shares during the period. Nuveen LLC purchased a new position in Midland States Bancorp in the first quarter valued at approximately $2,886,000. Segall Bryant & Hamill LLC acquired a new stake in Midland States Bancorp in the first quarter valued at approximately $1,644,000. Los Angeles Capital Management LLC acquired a new stake in Midland States Bancorp in the second quarter valued at approximately $1,006,000. Finally, LPL Financial LLC grew its position in Midland States Bancorp by 60.4% in the first quarter. LPL Financial LLC now owns 117,505 shares of the financial services provider’s stock valued at $2,012,000 after acquiring an additional 44,230 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.