Midland States Bancorp, Inc. (NASDAQ:MSBI) Given Consensus Rating of “Reduce” by Brokerages

Midland States Bancorp, Inc. (NASDAQ:MSBI) has received a consensus recommendation of “Reduce” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $20.00.

A number of analysts have recently commented on MSBI shares. Wall Street Zen cut Midland States Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th. Zacks Research upgraded shares of Midland States Bancorp from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Piper Sandler increased their price objective on shares of Midland States Bancorp from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Midland States Bancorp in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Midland States Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a research report on Monday, December 8th.

Insider Buying and Selling

In other news, EVP Jeremy Andrew Jameson purchased 5,598 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were purchased at an average cost of $17.69 per share, with a total value of $99,028.62. Following the completion of the purchase, the executive vice president directly owned 63,412 shares of the company’s stock, valued at approximately $1,121,758.28. The trade was a 9.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Daniel Edward Casey acquired 5,000 shares of Midland States Bancorp stock in a transaction that occurred on Wednesday, December 3rd. The stock was purchased at an average cost of $17.89 per share, with a total value of $89,450.00. Following the completion of the purchase, the insider owned 28,254 shares in the company, valued at $505,464.06. The trade was a 21.50% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 11,098 shares of company stock worth $197,324 over the last ninety days. Corporate insiders own 5.27% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

A number of hedge funds have recently modified their holdings of MSBI. Amundi boosted its position in Midland States Bancorp by 39.4% during the first quarter. Amundi now owns 2,194 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 620 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new stake in Midland States Bancorp in the 3rd quarter valued at about $46,000. Quantbot Technologies LP lifted its stake in Midland States Bancorp by 32.0% in the 2nd quarter. Quantbot Technologies LP now owns 7,372 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 1,787 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of Midland States Bancorp by 23,655.3% during the 2nd quarter. AlphaQuest LLC now owns 9,027 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 8,989 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Midland States Bancorp in the third quarter valued at approximately $184,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

Midland States Bancorp Trading Down 1.7%

Shares of Midland States Bancorp stock opened at $21.78 on Friday. The firm has a 50-day simple moving average of $18.85 and a two-hundred day simple moving average of $18.01. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.85. Midland States Bancorp has a fifty-two week low of $14.24 and a fifty-two week high of $25.76. The company has a market cap of $469.36 million, a P/E ratio of -17.15 and a beta of 0.66.

Midland States Bancorp (NASDAQ:MSBI) last posted its earnings results on Wednesday, March 23rd. The financial services provider reported $0.54 EPS for the quarter. The firm 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, equities analysts predict that Midland States Bancorp will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 14th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.9%. Midland States Bancorp’s dividend payout ratio is presently -100.79%.

Midland States Bancorp declared that its Board of Directors has approved a share repurchase plan on Monday, November 3rd that permits the company to buyback $25.00 million in shares. This buyback authorization permits the financial services provider to buy up to 7.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.