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

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI) have been assigned a consensus recommendation of “Reduce” from the six brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $23.00.

MSBI has been the subject of a number of research analyst reports. DA Davidson boosted their target price 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. Wall Street Zen raised Midland States Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Keefe, Bruyette & Woods increased their price objective on Midland States Bancorp from $17.00 to $19.00 and gave the company a “market perform” rating in a report on Monday, December 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Midland States Bancorp in a research note on Monday, December 29th. Finally, Piper Sandler lifted their target price on Midland States Bancorp from $23.00 to $25.50 and gave the stock a “neutral” rating in a report on Monday, January 26th.

Insider Buying and Selling at Midland States Bancorp

In other news, COO Kyle Owen Mooney sold 2,808 shares of Midland States Bancorp stock in a transaction that occurred on 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 directly owned 14,207 shares of the company’s stock, valued at $322,072.69. The trade was a 16.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Midland States Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Amundi grew its position in Midland States Bancorp by 39.4% in the 1st quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 620 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Midland States Bancorp by 3.5% during the first quarter. Empowered Funds LLC now owns 58,504 shares of the financial services provider’s stock worth $1,002,000 after purchasing an additional 2,004 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Midland States Bancorp in the 1st quarter valued at $354,000. Geode Capital Management LLC raised its stake in Midland States Bancorp by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 605,625 shares of the financial services provider’s stock valued at $10,491,000 after acquiring an additional 29,829 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Midland States Bancorp by 155.7% during the second quarter. Creative Planning now owns 53,091 shares of the financial services provider’s stock worth $920,000 after purchasing an additional 32,329 shares during the period. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Midland States Bancorp Stock Performance

Shares of MSBI stock opened at $21.74 on Friday. The company has a market cap of $466.76 million, a PE ratio of 21.52 and a beta of 0.62. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.80 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $22.47 and its two-hundred day simple moving average is $19.73. Midland States Bancorp has a 1 year low of $14.24 and a 1 year high of $24.57.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings data on Thursday, January 22nd. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.17). The business had revenue of $85.79 million during 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 10.47%. Research analysts predict that Midland States Bancorp will post 2.53 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 13th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.28 dividend on an annualized basis and a yield of 5.9%. Midland States Bancorp’s payout ratio is presently 126.73%.

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.