Midland States Bancorp (MSBI) Lifted to Hold at BidaskClub

Midland States Bancorp (NASDAQ:MSBI) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other analysts have also recently commented on the company. ValuEngine cut Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research raised Midland States Bancorp from a “sell” rating to a “buy” rating and set a $38.00 price target for the company in a report on Saturday, January 13th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $42.00 price target on shares of Midland States Bancorp in a report on Thursday, October 19th.

Shares of Midland States Bancorp (MSBI) opened at $30.50 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $572.71, a P/E ratio of 33.15, a PEG ratio of 1.56 and a beta of 1.31. Midland States Bancorp has a 1-year low of $28.70 and a 1-year high of $36.50.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.17). The business had revenue of $50.03 million during the quarter, compared to analyst estimates of $54.10 million. Midland States Bancorp had a net margin of 7.56% and a return on equity of 8.90%. sell-side analysts anticipate that Midland States Bancorp will post 2.75 earnings per share for the current fiscal year.

In related news, Director John M. Schultz sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $32.90, for a total value of $65,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 10,000 shares of company stock valued at $325,340 over the last ninety days. 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. increased its stake in Midland States Bancorp by 279.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,158 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 2,326 shares in the last quarter. Legal & General Group Plc increased its stake in Midland States Bancorp by 581.8% in the 2nd quarter. Legal & General Group Plc now owns 3,941 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 3,363 shares in the last quarter. SG Americas Securities LLC purchased a new position in Midland States Bancorp in the 3rd quarter valued at approximately $184,000. Susquehanna International Group LLP purchased a new position in Midland States Bancorp in the 2nd quarter valued at approximately $209,000. Finally, Voya Investment Management LLC purchased a new position in Midland States Bancorp in the 2nd quarter valued at approximately $225,000. 47.23% of the stock is owned by hedge funds and other institutional investors.

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About Midland States Bancorp

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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