Midland States Bancorp (NASDAQ:MSBI) Price Target Cut to $27.00 by Analysts at Stephens

Midland States Bancorp (NASDAQ:MSBI) had its target price cut by investment analysts at Stephens from $29.00 to $27.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 22.28% from the company’s current price.

A number of other research firms have also recently weighed in on MSBI. Keefe, Bruyette & Woods cut their price target on Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating on the stock in a report on Tuesday. Piper Sandler dropped their target price on Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.63.

Midland States Bancorp Stock Performance

MSBI stock traded down $0.42 during midday trading on Tuesday, reaching $22.08. The company had a trading volume of 19,159 shares, compared to its average volume of 56,767. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.91. The stock has a 50 day moving average price of $24.05 and a 200 day moving average price of $24.42. Midland States Bancorp has a fifty-two week low of $17.98 and a fifty-two week high of $28.47. The firm has a market capitalization of $482.45 million, a PE ratio of 7.51 and a beta of 0.77.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). The business had revenue of $122.86 million for the quarter, compared to the consensus estimate of $75.05 million. Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.56%. During the same period last year, the firm posted $0.88 EPS. Analysts anticipate that Midland States Bancorp will post 2.94 earnings per share for the current year.

Hedge Funds Weigh In On Midland States Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hennessy Advisors Inc. acquired a new position in Midland States Bancorp during the 4th quarter worth $3,032,000. Midland Wealth Advisors LLC acquired a new position in Midland States Bancorp during the 4th quarter worth $1,573,000. AQR Capital Management LLC lifted its position in Midland States Bancorp by 27.5% during the 3rd quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock worth $5,147,000 after acquiring an additional 54,090 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Midland States Bancorp by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,371,940 shares of the financial services provider’s stock worth $37,811,000 after acquiring an additional 37,813 shares during the last quarter. Finally, Accurate Wealth Management LLC raised its position in shares of Midland States Bancorp by 48.1% during the first quarter. Accurate Wealth Management LLC now owns 105,286 shares of the financial services provider’s stock valued at $2,502,000 after buying an additional 34,191 shares during the last quarter. 60.93% of the stock is currently owned by hedge funds and other institutional investors.

About Midland States Bancorp

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.