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

Midland States Bancorp, Inc. (NASDAQ:MSBI) has been given an average recommendation of “Hold” by the six research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $23.00.

A number of brokerages recently issued reports on MSBI. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 22nd. UBS Group set a $25.50 price target on Midland States Bancorp in a report on Monday, January 26th. Piper Sandler increased their price objective on shares of Midland States Bancorp from $23.00 to $25.50 and gave the company a “neutral” rating in a report on Monday, January 26th. Wall Street Zen upgraded 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 price target on shares of Midland States Bancorp from $23.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, January 26th.

Midland States Bancorp Stock Performance

Shares of MSBI opened at $23.98 on Thursday. The company has a market cap of $516.77 million, a price-to-earnings ratio of 23.74 and a beta of 0.66. The business’s fifty day simple moving average is $21.69 and its two-hundred day simple moving average is $18.66. Midland States Bancorp has a 12 month low of $14.24 and a 12 month high of $24.57. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.95.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.17). The business had revenue of $85.79 million for the quarter, compared to the consensus estimate of $74.49 million. Midland States Bancorp had a net margin of 6.62% and a return on equity of 10.41%. Research analysts anticipate that Midland States Bancorp will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 13th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 5.3%. The ex-dividend date is Friday, February 13th. Midland States Bancorp’s dividend payout ratio is presently 126.73%.

Midland States Bancorp announced that its board has authorized a stock buyback plan on Monday, November 3rd that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity at Midland States Bancorp

In other Midland States Bancorp news, COO Kyle Owen Mooney sold 2,808 shares of the firm’s stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $22.67, for a total transaction of $63,657.36. Following the transaction, the chief operating officer directly owned 14,207 shares in the company, valued at $322,072.69. This trade represents a 16.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeremy Andrew Jameson bought 5,598 shares of the company’s stock in a transaction on Wednesday, December 3rd. The shares were acquired at an average price of $17.69 per share, for a total transaction of $99,028.62. Following the completion of the acquisition, the executive vice president owned 63,412 shares in the company, valued at $1,121,758.28. This represents a 9.68% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have bought 11,098 shares of company stock worth $197,324. Insiders own 5.27% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Midland Wealth Advisors LLC lifted its position in Midland States Bancorp by 49.9% during the 4th quarter. Midland Wealth Advisors LLC now owns 21,384 shares of the financial services provider’s stock worth $453,000 after acquiring an additional 7,114 shares during the period. Smith Moore & CO. purchased a new position in Midland States Bancorp during the fourth quarter valued at approximately $210,000. Daytona Street Capital LLC acquired a new position in Midland States Bancorp in the fourth quarter valued at approximately $107,000. Nisa Investment Advisors LLC boosted its position in Midland States Bancorp by 431.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 13,378 shares of the financial services provider’s stock worth $283,000 after purchasing an additional 10,863 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position 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 worth $265,000 after purchasing an additional 3,944 shares in the last quarter. 60.93% of the stock is currently owned by institutional investors.

About Midland States Bancorp

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.