Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives $23.00 Consensus PT from Analysts

Midland States Bancorp, Inc. (NASDAQ:MSBI) has been given an average recommendation of “Reduce” by the six analysts that are covering the stock, MarketBeat reports. One equities 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 target among brokerages that have issued a report on the stock in the last year is $23.00.

A number of research firms have recently weighed in on MSBI. Keefe, Bruyette & Woods increased 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 lowered Midland States Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Piper Sandler upped their target price on 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, UBS Group set a $25.50 target price on shares of Midland States Bancorp in a research note on Monday, January 26th.

Midland States Bancorp Trading Up 0.3%

Shares of MSBI stock opened at $22.62 on Monday. The business has a 50-day moving average of $22.60 and a 200 day moving average of $19.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.84. Midland States Bancorp has a 1-year low of $14.24 and a 1-year high of $24.57. The stock has a market capitalization of $474.79 million, a PE ratio of 22.40 and a beta of 0.62.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, January 22nd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.17). Midland States Bancorp had a return on equity of 10.47% and a net margin of 6.62%.The firm had revenue of $85.79 million during the quarter, compared to the consensus estimate of $74.49 million. As a group, sell-side analysts anticipate that Midland States Bancorp will post 2.53 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 13th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.28 annualized dividend and a dividend yield of 5.7%. Midland States Bancorp’s dividend payout ratio is currently 126.73%.

Insider Buying and Selling at Midland States Bancorp

In other news, COO Kyle Owen Mooney sold 2,808 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $22.67, for a total transaction of $63,657.36. Following the sale, the chief operating officer owned 14,207 shares in the company, valued at approximately $322,072.69. The trade was a 16.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Midland States Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Amundi boosted its position in shares of 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 purchasing an additional 620 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Midland States Bancorp by 33.1% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,022 shares of the financial services provider’s stock valued at $43,000 after buying an additional 503 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in Midland States Bancorp during the third quarter valued at $46,000. Quadrant Capital Group LLC boosted its holdings in Midland States Bancorp by 302.7% in the fourth quarter. Quadrant Capital Group LLC now owns 4,599 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 3,457 shares in the last quarter. Finally, Daytona Street Capital LLC purchased a new stake in shares of Midland States Bancorp in the fourth quarter worth $107,000. Institutional investors own 60.93% of the company’s stock.

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.