Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives $20.00 Consensus PT from Analysts

Midland States Bancorp, Inc. (NASDAQ:MSBI) has been given an average recommendation of “Reduce” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $20.00.

MSBI has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on shares of Midland States Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Monday, December 8th. Zacks Research raised shares of Midland States Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Wall Street Zen downgraded Midland States Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Finally, Piper Sandler lifted their price objective on Midland States Bancorp from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd.

Midland States Bancorp Price Performance

Shares of NASDAQ:MSBI opened at $21.92 on Friday. Midland States Bancorp has a fifty-two week low of $14.24 and a fifty-two week high of $25.76. The business has a 50-day moving average of $19.09 and a two-hundred day moving average of $18.08. The stock has a market capitalization of $472.38 million, a P/E ratio of -17.26 and a beta of 0.66. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.85 and a quick ratio of 0.84.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.37). Midland States Bancorp had a negative net margin of 3.80% and a negative return on equity of 3.63%. The company had revenue of $81.33 million for the quarter, compared to analyst estimates of $79.35 million. On average, equities research analysts predict that Midland States Bancorp will post 2.53 EPS for the current fiscal year.

Midland States Bancorp announced that its board has authorized a stock repurchase plan on Monday, November 3rd that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the financial services provider to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, November 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.8%. Midland States Bancorp’s payout ratio is -100.79%.

Insider Buying and Selling at Midland States Bancorp

In related news, EVP Jeremy Andrew Jameson bought 5,598 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were acquired at an average price of $17.69 per share, with a total value of $99,028.62. Following the completion of the transaction, the executive vice president owned 63,412 shares of the company’s stock, valued at $1,121,758.28. The trade was a 9.68% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel Edward Casey purchased 5,000 shares of Midland States Bancorp stock in a transaction on Wednesday, December 3rd. The stock was bought at an average cost of $17.89 per share, with a total value of $89,450.00. Following the completion of the acquisition, the insider owned 28,254 shares in the company, valued at approximately $505,464.06. This trade represents a 21.50% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders bought 11,098 shares of company stock worth $197,324. 5.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Midland States Bancorp

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in Midland States Bancorp by 45.9% in the 4th quarter. SG Americas Securities LLC now owns 12,539 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 3,944 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Midland States Bancorp by 6.0% during the third quarter. JPMorgan Chase & Co. now owns 81,733 shares of the financial services provider’s stock valued at $1,401,000 after purchasing an additional 4,644 shares during the period. CIBC Private Wealth Group LLC acquired a new position in shares of Midland States Bancorp in the third quarter valued at $46,000. Jacobs Levy Equity Management Inc. lifted its position in Midland States Bancorp by 6.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 120,942 shares of the financial services provider’s stock worth $2,073,000 after purchasing an additional 7,591 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in Midland States Bancorp by 48.4% in the third quarter. Qube Research & Technologies Ltd now owns 59,373 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 19,354 shares during the period. 60.93% of the stock is owned by institutional investors and hedge funds.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.