Keefe, Bruyette & Woods Lowers Midland States Bancorp (NASDAQ:MSBI) Price Target to $23.00

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) had its price objective lowered by Keefe, Bruyette & Woods from $28.00 to $23.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target suggests a potential upside of 14.60% from the stock's current price.

Other equities analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Midland States Bancorp from a "buy" rating to a "hold" rating in a research note on Friday. 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 note on Tuesday, October 29th.

Midland States Bancorp Price Performance

MSBI traded up $0.07 on Monday, hitting $20.07. 240,582 shares of the company were exchanged, compared to its average volume of 118,268. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. The business's fifty day moving average is $25.24 and its 200 day moving average is $23.94. Midland States Bancorp has a fifty-two week low of $19.51 and a fifty-two week high of $28.10. The firm has a market capitalization of $429.50 million, a P/E ratio of 8.69 and a beta of 0.76.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. As a group, sell-side analysts anticipate that Midland States Bancorp will post 2.16 EPS for the current year.

Insider Activity at Midland States Bancorp

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the completion of the sale, the chief executive officer now directly owns 343,935 shares of the company's stock, valued at approximately $8,433,286.20. This trade represents a 3.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MSBI. Point72 DIFC Ltd bought a new position in Midland States Bancorp during the 3rd quarter valued at $31,000. R Squared Ltd bought a new position in Midland States Bancorp during the 4th quarter valued at $39,000. Point72 Asset Management L.P. bought a new position in Midland States Bancorp during the 3rd quarter valued at $45,000. Quantbot Technologies LP boosted its stake in Midland States Bancorp by 25.8% during 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 last quarter. Finally, US Bancorp DE lifted 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 worth $85,000 after buying an additional 2,229 shares during the last quarter. 60.93% of the stock is currently owned by 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.