Midland States Bancorp (NASDAQ:MSBI) Given New $23.00 Price Target at Piper Sandler

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) had its price target lowered by equities researchers at Piper Sandler from $28.50 to $23.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. Piper Sandler's target price would indicate a potential upside of 19.11% from the company's previous close.

Other equities analysts have also issued research reports about the company. Keefe, Bruyette & Woods reduced their price objective on Midland States Bancorp from $28.00 to $23.00 and set a "market perform" rating for the company in a research note on Monday. StockNews.com downgraded Midland States Bancorp from a "buy" rating to a "hold" rating in a report on Friday, January 24th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Midland States Bancorp presently has an average rating of "Hold" and a consensus target price of $23.50.

Midland States Bancorp Stock Performance

Shares of MSBI traded down $0.50 during trading hours on Tuesday, reaching $19.31. 64,861 shares of the company traded hands, compared to its average volume of 124,529. The business has a fifty day moving average price of $24.70 and a 200-day moving average price of $23.83. Midland States Bancorp has a 12-month low of $18.75 and a 12-month high of $28.08. 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 stock has a market capitalization of $413.23 million, a P/E ratio of -18.39 and a beta of 0.76.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last issued its earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) EPS for the quarter, missing analysts' consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a negative net margin of 2.74% and a negative return on equity of 1.95%. Equities analysts anticipate that Midland States Bancorp will post 2.5 EPS for the current fiscal year.

Institutional Investors Weigh In On Midland States Bancorp

Large investors have recently bought and sold shares of the company. State Street Corp grew its position in shares of Midland States Bancorp by 2.5% in the third quarter. State Street Corp now owns 587,947 shares of the financial services provider's stock valued at $13,158,000 after purchasing an additional 14,157 shares in the last quarter. Geode Capital Management LLC grew its holdings in Midland States Bancorp by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider's stock valued at $11,460,000 after buying an additional 2,294 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Midland States Bancorp in the 3rd quarter valued at $5,764,000. JPMorgan Chase & Co. raised its holdings 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 worth $2,469,000 after acquiring an additional 37,889 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Midland States Bancorp by 31.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider's stock valued at $1,996,000 after acquiring an additional 21,416 shares during the last quarter. 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.