$67.56 Million in Sales Expected for Midland States Bancorp Inc (NASDAQ:MSBI) This Quarter

Wall Street analysts expect Midland States Bancorp Inc (NASDAQ:MSBI) to report sales of $67.56 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Midland States Bancorp’s earnings, with the highest sales estimate coming in at $69.00 million and the lowest estimate coming in at $66.12 million. Midland States Bancorp posted sales of $62.68 million in the same quarter last year, which would indicate a positive year over year growth rate of 7.8%. The firm is expected to announce its next quarterly earnings report on Thursday, April 23rd.

According to Zacks, analysts expect that Midland States Bancorp will report full-year sales of $265.10 million for the current fiscal year. For the next year, analysts expect that the business will post sales of $266.09 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Midland States Bancorp.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, January 23rd. The financial services provider reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.08). The business had revenue of $67.70 million during the quarter. Midland States Bancorp had a return on equity of 9.23% and a net margin of 17.16%.

Several brokerages have commented on MSBI. ValuEngine raised shares of Midland States Bancorp from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 29th. BidaskClub downgraded shares of Midland States Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, March 7th. Zacks Investment Research raised shares of Midland States Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, February 27th. Finally, DA Davidson downgraded shares of Midland States Bancorp from a “buy” rating to a “neutral” rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Midland States Bancorp presently has an average rating of “Hold” and a consensus price target of $27.00.

MSBI opened at $16.31 on Thursday. The company has a 50 day moving average of $22.92 and a 200 day moving average of $26.37. The company has a market cap of $361.60 million, a PE ratio of 7.22 and a beta of 1.33. Midland States Bancorp has a 12 month low of $13.22 and a 12 month high of $29.50. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 1.11.

In related news, Director Jeffrey M. Mcdonnell acquired 4,300 shares of the stock in a transaction dated Friday, March 6th. The shares were purchased at an average price of $19.92 per share, for a total transaction of $85,656.00. Also, Director Leon J. Holschbach sold 9,500 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $28.65, for a total transaction of $272,175.00. The disclosure for this sale can be found here. 12.70% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. State Street Corp raised its position in shares of Midland States Bancorp by 4.1% during the 4th quarter. State Street Corp now owns 524,149 shares of the financial services provider’s stock valued at $15,179,000 after buying an additional 20,882 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Midland States Bancorp by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 290,980 shares of the financial services provider’s stock valued at $8,426,000 after buying an additional 13,798 shares in the last quarter. Bank of America Corp DE raised its position in shares of Midland States Bancorp by 5.4% during the 4th quarter. Bank of America Corp DE now owns 266,169 shares of the financial services provider’s stock valued at $7,709,000 after buying an additional 13,610 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Midland States Bancorp by 16.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 246,632 shares of the financial services provider’s stock valued at $7,142,000 after buying an additional 35,680 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its position in shares of Midland States Bancorp by 6.7% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 220,864 shares of the financial services provider’s stock valued at $6,396,000 after buying an additional 13,812 shares in the last quarter. Hedge funds and other institutional investors own 49.73% of the company’s stock.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc operates as a financial holding company for Midland States Bank that provides various banking products and services to individuals, businesses, municipalities, and other entities. It operates through Banking, Commercial FHA Origination and Servicing, Wealth Management, and Other segments.

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