Midland States Bancorp (NASDAQ:MSBI) Reaches New 12-Month Low - What's Next?

Midland States Bancorp, Inc. (NASDAQ:MSBI - Get Free Report) shares hit a new 52-week low on Saturday . The company traded as low as $19.75 and last traded at $20.00, with a volume of 586275 shares changing hands. The stock had previously closed at $25.00.

Wall Street Analyst Weigh In

Several research firms have issued reports on MSBI. Piper Sandler boosted their price objective on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods boosted their price target on Midland States Bancorp from $24.00 to $28.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Finally, StockNews.com downgraded Midland States Bancorp from a "buy" rating to a "hold" rating in a report on Friday.

Midland States Bancorp Stock Performance

The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79. The stock has a market cap of $428.02 million, a PE ratio of 8.66 and a beta of 0.76. The business's 50-day moving average price is $25.24 and its 200-day moving average price is $23.92.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last released its quarterly earnings results 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 return on equity of 8.90% and a net margin of 12.13%. As a group, equities research analysts expect that Midland States Bancorp, Inc. will post 2.16 earnings per share for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend was Monday, November 18th. Midland States Bancorp's dividend payout ratio is presently -118.10%.

Insider Transactions at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business'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 sale, the chief executive officer now directly owns 343,935 shares of the company's stock, valued at $8,433,286.20. The trade was a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.60% of the company's stock.

Institutional Trading of Midland States Bancorp

Several large investors have recently added to or reduced their stakes in MSBI. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Midland States Bancorp during the third quarter worth $5,764,000. Bank of Montreal Can acquired a new stake in Midland States Bancorp during the 2nd quarter worth about $1,350,000. JPMorgan Chase & Co. raised its stake in shares of Midland States Bancorp by 52.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider's stock valued at $2,469,000 after buying an additional 37,889 shares during the last quarter. Barclays PLC lifted its holdings in shares of Midland States Bancorp by 55.2% in the 3rd quarter. Barclays PLC now owns 65,384 shares of the financial services provider's stock valued at $1,463,000 after buying an additional 23,242 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Midland States Bancorp by 31.6% in 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 buying an additional 21,416 shares during the last quarter. Hedge funds and other institutional investors own 60.93% of the company's stock.

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.