Midland States Bancorp (NASDAQ:MSBI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a hold rating to a buy rating in a research report released on Thursday.

Other research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods decreased their price target on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. Piper Sandler increased their price target on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th.

Midland States Bancorp Stock Performance

Midland States Bancorp stock traded up $0.05 during midday trading on Thursday, reaching $26.75. 53,811 shares of the company traded hands, compared to its average volume of 80,378. The firm has a market capitalization of $572.45 million, a price-to-earnings ratio of 11.56 and a beta of 0.74. The business has a 50 day moving average of $23.35 and a two-hundred day moving average of $22.96. Midland States Bancorp has a 12 month low of $20.54 and a 12 month high of $28.47. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.11. Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. The company had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. During the same quarter in the prior year, the firm earned $0.78 earnings per share. As a group, research analysts predict that Midland States Bancorp will post 2.16 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be issued a $0.31 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 4.64%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Insider Transactions at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of Midland States Bancorp stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the transaction, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. The trade was a 3.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

Large investors have recently made changes to their positions in the business. Point72 DIFC Ltd acquired a new position in shares of Midland States Bancorp during the third quarter worth $31,000. EntryPoint Capital LLC acquired a new position in shares of Midland States Bancorp in the 1st quarter valued at $42,000. Point72 Asset Management L.P. acquired a new position in shares of Midland States Bancorp in the 3rd quarter valued at $45,000. Quantbot Technologies LP increased its position in shares of Midland States Bancorp by 25.8% in the 3rd quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 507 shares during the period. Finally, US Bancorp DE increased its position in shares of Midland States Bancorp by 141.6% in the 3rd quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 2,229 shares during the period. 60.93% of the stock is owned by institutional investors and hedge funds.

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.