Midland States Bancorp Inc (MSBI) Given Consensus Rating of “Strong Buy” by Brokerages

Midland States Bancorp Inc (NASDAQ:MSBI) has been given a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.

Brokers have set a 12 month consensus price objective of $40.00 for the company and are predicting that the company will post $0.65 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Midland States Bancorp an industry rank of 14 out of 265 based on the ratings given to its competitors.

A number of research analysts have issued reports on the company. Keefe, Bruyette & Woods reissued a “buy” rating and set a $42.00 price objective on shares of Midland States Bancorp in a report on Thursday, October 19th. Zacks Investment Research cut Midland States Bancorp from a “hold” rating to a “sell” rating in a report on Friday, October 20th. BidaskClub cut Midland States Bancorp from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Finally, ValuEngine cut Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, February 2nd.

In other Midland States Bancorp news, Director John M. Schultz sold 2,000 shares of Midland States Bancorp stock in a transaction on Friday, December 1st. The stock was sold at an average price of $32.90, for a total transaction of $65,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 10,000 shares of company stock valued at $325,340. Company insiders own 14.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Pacific Ridge Capital Partners LLC raised its holdings in shares of Midland States Bancorp by 21.2% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 179,840 shares of the financial services provider’s stock valued at $5,841,000 after buying an additional 31,510 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Midland States Bancorp by 2.9% in the fourth quarter. BlackRock Inc. now owns 782,801 shares of the financial services provider’s stock valued at $25,426,000 after buying an additional 22,052 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Midland States Bancorp by 33.8% in the fourth quarter. Wells Fargo & Company MN now owns 127,076 shares of the financial services provider’s stock valued at $4,127,000 after buying an additional 32,129 shares during the last quarter. Monarch Partners Asset Management LLC raised its holdings in shares of Midland States Bancorp by 21.2% in the fourth quarter. Monarch Partners Asset Management LLC now owns 21,039 shares of the financial services provider’s stock valued at $683,000 after buying an additional 3,680 shares during the last quarter. Finally, Northpointe Capital LLC raised its holdings in shares of Midland States Bancorp by 101.6% in the fourth quarter. Northpointe Capital LLC now owns 507,800 shares of the financial services provider’s stock valued at $16,493,000 after buying an additional 255,865 shares during the last quarter. 46.97% of the stock is owned by institutional investors and hedge funds.

Shares of Midland States Bancorp (MSBI) opened at $30.48 on Tuesday. Midland States Bancorp has a 52 week low of $28.70 and a 52 week high of $36.50. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.02 and a current ratio of 1.03. The firm has a market cap of $583.22, a price-to-earnings ratio of 33.13, a price-to-earnings-growth ratio of 1.59 and a beta of 1.31.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.17). The company had revenue of $50.03 million for the quarter, compared to the consensus estimate of $54.10 million. Midland States Bancorp had a net margin of 7.56% and a return on equity of 8.90%. equities analysts forecast that Midland States Bancorp will post 2.75 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 16th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, February 15th. This is a boost from Midland States Bancorp’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.89%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 86.96%.

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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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