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

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday.

A number of other analysts have also commented on the company. Piper Sandler lifted their price target on Midland States Bancorp from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Tuesday. Keefe, Bruyette & Woods dropped their price objective on shares of Midland States Bancorp from $26.00 to $24.00 and set a "market perform" rating for the company in a report on Monday, July 29th.

Midland States Bancorp Stock Performance

NASDAQ MSBI traded down $0.02 on Tuesday, reaching $24.65. The stock had a trading volume of 129,722 shares, compared to its average volume of 79,009. Midland States Bancorp has a 1-year low of $20.54 and a 1-year high of $28.47. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a fifty day moving average of $22.52 and a two-hundred day moving average of $22.74. The company has a market cap of $527.26 million, a P/E ratio of 10.67 and a beta of 0.75.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, beating the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a net margin of 12.13% and a return on equity of 9.00%. The firm had revenue of $124.17 million for the quarter, compared to analyst estimates of $72.90 million. During the same period last year, the firm earned $0.78 EPS. On average, equities research analysts anticipate that Midland States Bancorp will post 2 EPS for the current year.

Insider Transactions at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm's stock in a transaction that occurred 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 in the company, valued at $8,433,286.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On Midland States Bancorp

Several hedge funds have recently made changes to their positions in MSBI. EntryPoint Capital LLC bought a new position in Midland States Bancorp in the 1st quarter valued at $42,000. US Bancorp DE grew its position in Midland States Bancorp by 141.6% during the third 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 in the last quarter. Comerica Bank grew its position in Midland States Bancorp by 950.4% during the first quarter. Comerica Bank now owns 7,468 shares of the financial services provider's stock worth $188,000 after buying an additional 6,757 shares in the last quarter. SG Americas Securities LLC bought a new position in Midland States Bancorp in the 2nd quarter worth about $218,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Midland States Bancorp in the 2nd quarter valued at about $248,000. 60.93% of the stock is currently owned by hedge funds and other 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.

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