Keefe, Bruyette & Woods Boosts Midland States Bancorp (NASDAQ:MSBI) Price Target to $19.00

Midland States Bancorp (NASDAQ:MSBI) had its target price upped by research analysts at Keefe, Bruyette & Woods from $17.00 to $19.00 in a report issued on Monday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential downside of 5.14% from the stock’s previous close.

Several other brokerages have also recently issued reports on MSBI. Zacks Research cut shares of Midland States Bancorp from a “hold” rating to a “strong sell” rating in a report on Thursday, November 6th. Wall Street Zen lowered Midland States Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, November 24th. Piper Sandler upped their target price on Midland States Bancorp from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Finally, Stephens raised Midland States Bancorp to a “hold” rating in a research report on Thursday, September 11th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $20.00.

Midland States Bancorp Trading Up 0.6%

NASDAQ:MSBI opened at $20.03 on Monday. Midland States Bancorp has a 1 year low of $14.24 and a 1 year high of $27.21. The stock has a market cap of $431.65 million, a P/E ratio of -15.77 and a beta of 0.69. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.85. The stock has a 50-day simple moving average of $16.53 and a 200-day simple moving average of $17.27.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Wednesday, March 23rd. The financial services provider reported $0.54 earnings per share for the quarter. The business had revenue of $70.61 million for the quarter. Midland States Bancorp had a negative return on equity of 3.63% and a negative net margin of 3.80%. As a group, analysts anticipate that Midland States Bancorp will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp declared that its board has authorized a share repurchase plan on Monday, November 3rd that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Midland States Bancorp

In other news, insider Daniel Edward Casey acquired 5,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was bought at an average price of $17.89 per share, for a total transaction of $89,450.00. Following the transaction, the insider owned 28,254 shares in the company, valued at $505,464.06. This represents a 21.50% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jeremy Andrew Jameson bought 5,598 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was purchased at an average cost of $17.69 per share, for a total transaction of $99,028.62. Following the acquisition, the executive vice president owned 63,412 shares of the company’s stock, valued at approximately $1,121,758.28. This represents a 9.68% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 11,098 shares of company stock worth $197,324 over the last three months. 5.27% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Midland States Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Amundi boosted its stake in shares of Midland States Bancorp by 39.4% in the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock valued at $38,000 after buying an additional 620 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Midland States Bancorp during the 3rd quarter worth $46,000. Quantbot Technologies LP grew its stake in shares of Midland States Bancorp by 162.5% during the 1st quarter. Quantbot Technologies LP now owns 5,585 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 3,457 shares during the period. AlphaQuest LLC increased its holdings in shares of Midland States Bancorp by 23,655.3% in the 2nd quarter. AlphaQuest LLC now owns 9,027 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 8,989 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Midland States Bancorp in the third quarter valued at about $184,000. Institutional investors and hedge funds own 60.93% 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, Wealth Management, and Other segments. The company provides a range of financial products and services to consumers and businesses, including commercial loans to finance agricultural equipment and production; and commercial real estate loans for owner occupied offices, warehouses and production facilities, office buildings, hotels, mixed-use residential and commercial facilities, retail centers, multifamily properties, and assisted living facilities.