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

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Monday.

MSBI has been the topic of a number of other research reports. Keefe, Bruyette & Woods lifted their price target on shares of Midland States Bancorp from $24.00 to $28.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Piper Sandler lifted their target price 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.

Midland States Bancorp Price Performance

Shares of MSBI stock traded up $0.32 during mid-day trading on Monday, hitting $22.99. 84,625 shares of the stock were exchanged, compared to its average volume of 72,332. Midland States Bancorp has a 52-week low of $20.54 and a 52-week high of $28.10. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. The company has a market cap of $492.01 million, a PE ratio of 9.95 and a beta of 0.76. The firm has a fifty day moving average of $25.77 and a 200 day moving average of $23.84.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.11. The company had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. During the same quarter in the prior year, the business posted $0.78 earnings per share. Research analysts anticipate that Midland States Bancorp will post 2.16 earnings per share for the current year.

Insider Activity at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company'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 owns 343,935 shares of the company's stock, valued at $8,433,286.20. This represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Midland States Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of MSBI. Rhumbline Advisers lifted its stake in Midland States Bancorp by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider's stock worth $761,000 after purchasing an additional 683 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Midland States Bancorp by 16.0% in the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider's stock valued at $9,107,000 after purchasing an additional 55,555 shares during the last quarter. Hsbc Holdings PLC lifted its position in Midland States Bancorp by 9.9% during the second quarter. Hsbc Holdings PLC now owns 28,562 shares of the financial services provider's stock worth $652,000 after buying an additional 2,562 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Midland States Bancorp by 6.1% during the second quarter. Thrivent Financial for Lutherans now owns 68,640 shares of the financial services provider's stock worth $1,554,000 after buying an additional 3,976 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in Midland States Bancorp in the 2nd quarter valued at $1,350,000. 60.93% of the stock is currently owned by institutional investors and hedge funds.

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.

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