BidaskClub Downgrades Midland States Bancorp (MSBI) to Sell

Midland States Bancorp (NASDAQ:MSBI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods restated a “buy” rating and issued a $42.00 price objective on shares of Midland States Bancorp in a research report on Thursday, October 19th. Zacks Investment Research upgraded Midland States Bancorp from a “sell” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Saturday, January 13th.

Shares of Midland States Bancorp (MSBI) opened at $32.12 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.03 and a quick ratio of 1.02. Midland States Bancorp has a 12-month low of $28.70 and a 12-month high of $36.50. The stock has a market capitalization of $652.71, a price-to-earnings ratio of 34.91, a PEG ratio of 1.85 and a beta of 2.21.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.09). Midland States Bancorp had a net margin of 7.56% and a return on equity of 8.90%. The company had revenue of $52.17 million during the quarter, compared to analysts’ expectations of $55.20 million. sell-side analysts anticipate that Midland States Bancorp will post 2.62 EPS for the current fiscal year.

In related news, Director John M. Schultz sold 2,000 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $33.85, for a total transaction of $67,700.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 10,000 shares of company stock worth $325,500 over the last quarter. 14.90% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MSBI. Meeder Asset Management Inc. lifted its position in Midland States Bancorp by 279.6% during the third quarter. Meeder Asset Management Inc. now owns 3,158 shares of the financial services provider’s stock worth $100,000 after buying an additional 2,326 shares during the period. Legal & General Group Plc lifted its position in Midland States Bancorp by 581.8% during the second quarter. Legal & General Group Plc now owns 3,941 shares of the financial services provider’s stock worth $132,000 after buying an additional 3,363 shares during the period. SG Americas Securities LLC purchased a new position in Midland States Bancorp during the third quarter worth about $184,000. Susquehanna International Group LLP purchased a new position in Midland States Bancorp during the second quarter worth about $209,000. Finally, Voya Investment Management LLC purchased a new position in Midland States Bancorp during the second quarter worth about $225,000. Hedge funds and other institutional investors own 45.63% of the company’s stock.

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Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a diversified financial holding company. The Company’s banking subsidiary is Midland States Bank (the Bank). The Company’s principal business activity has been lending to and accepting deposits from individuals, businesses, municipalities and other entities. The Company’s segments include Banking, which provides a range of financial products and services to consumers and businesses, including loan products; commercial equipment leasing; mortgage loan sales and servicing; letters of credit; various types of deposit products, including checking, savings and time deposit accounts; merchant services, and corporate treasury management services; Commercial Federal Housing Administration (FHA) Origination and Servicing, which provides for the origination and servicing of government sponsored mortgages for multifamily and healthcare facilities, and Other, which includes the operating results of the Company and its wealth management business unit.

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