Brokerages Set Midland States Bancorp, Inc. (NASDAQ:MSBI) Price Target at $23.00

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have earned an average recommendation of “Reduce” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $23.00.

Several research analysts have recently issued reports on the company. Zacks Research cut Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. UBS Group set a $25.50 target price on Midland States Bancorp in a research report on Monday, January 26th. Piper Sandler increased their price target on shares of Midland States Bancorp from $23.00 to $25.50 and gave the stock a “neutral” rating in a report on Monday, January 26th. Wall Street Zen raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, DA Davidson boosted their target price on shares of Midland States Bancorp from $23.00 to $24.00 and gave the company a “neutral” rating in a research report on Monday, January 26th.

Midland States Bancorp Stock Up 1.4%

MSBI stock opened at $23.39 on Tuesday. The firm has a 50 day moving average of $22.51 and a 200 day moving average of $20.47. The stock has a market capitalization of $502.18 million, a PE ratio of 23.16 and a beta of 0.57. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.82. Midland States Bancorp has a 52 week low of $14.24 and a 52 week high of $24.72.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.19. Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.47%. The company had revenue of $81.10 million for the quarter, compared to the consensus estimate of $75.59 million. Sell-side analysts forecast that Midland States Bancorp will post 2.54 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, February 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.5%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 126.73%.

Insider Activity

In other news, COO Kyle Owen Mooney sold 2,808 shares of the company’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $22.67, for a total value of $63,657.36. Following the sale, the chief operating officer owned 14,207 shares in the company, valued at $322,072.69. This represents a 16.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Midland States Bancorp

Several institutional investors have recently made changes to their positions in the company. Amundi increased its holdings in Midland States Bancorp by 39.4% in the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after buying an additional 620 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Midland States Bancorp by 33.1% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 503 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Midland States Bancorp in the 3rd quarter valued at about $46,000. Quadrant Capital Group LLC raised its holdings in Midland States Bancorp by 302.7% in the 4th quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock worth $97,000 after purchasing an additional 3,457 shares during the period. Finally, Daytona Street Capital LLC acquired a new stake in Midland States Bancorp in the fourth quarter valued at approximately $107,000. 60.93% of the stock is owned by hedge funds and other institutional investors.

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.