Midland States Bancorp (NASDAQ:MSBI) Price Target Lowered to $21.00 at DA Davidson

Midland States Bancorp (NASDAQ:MSBI) had its price objective reduced by DA Davidson from $27.00 to $21.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other research analysts have also recently commented on the company. StockNews.com cut Midland States Bancorp from a “buy” rating to a “hold” rating in a report on Friday, January 24th. Piper Sandler lowered their target price on shares of Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating for the company in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.50.

Midland States Bancorp Stock Performance

Shares of NASDAQ MSBI opened at $19.28 on Tuesday. The stock has a market cap of $412.59 million, a PE ratio of 8.35 and a beta of 0.76. Midland States Bancorp has a 1 year low of $18.75 and a 1 year high of $28.10. The firm has a fifty day moving average price of $24.98 and a 200-day moving average price of $23.88. 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 results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. Equities analysts anticipate that Midland States Bancorp will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a dividend of $0.31 per share. The ex-dividend date was Monday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 6.43%. Midland States Bancorp’s dividend payout ratio (DPR) is 53.68%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MSBI. Hotchkis & Wiley Capital Management LLC purchased a new stake in Midland States Bancorp during the third quarter valued at $5,764,000. Bank of Montreal Can purchased a new stake in shares of Midland States Bancorp during the 2nd quarter valued at about $1,350,000. JPMorgan Chase & Co. lifted its holdings in shares of Midland States Bancorp by 52.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock valued at $2,469,000 after acquiring an additional 37,889 shares during the last quarter. Barclays PLC grew its position in Midland States Bancorp by 55.2% in the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock worth $1,463,000 after acquiring an additional 23,242 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Midland States Bancorp by 31.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock worth $1,996,000 after acquiring an additional 21,416 shares during the last quarter. 60.93% of the stock is owned by hedge funds and other institutional investors.

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.