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

StockNews.com upgraded shares of Midland States Bancorp (NASDAQ:MSBI - Free Report) from a hold rating to a buy rating in a research note released on Thursday.

Several other research analysts have also recently commented on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Midland States Bancorp from $26.00 to $24.00 and set a "market perform" rating on the stock in a report on Monday, July 29th. Piper Sandler increased their price target on Midland States Bancorp from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 29th.

Midland States Bancorp Stock Performance

NASDAQ MSBI traded down $0.37 on Thursday, reaching $26.70. The stock had a trading volume of 57,064 shares, compared to its average volume of 80,498. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $571.41 million, a P/E ratio of 11.72 and a beta of 0.74. The firm has a fifty day moving average of $23.35 and a two-hundred day moving average of $22.96. Midland States Bancorp has a 1-year low of $20.54 and a 1-year high of $28.47.

Midland States Bancorp (NASDAQ:MSBI - Get Free Report) last released its quarterly 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 8.90%. The business had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. During the same period in the prior year, the company posted $0.78 earnings per share. On average, equities research analysts anticipate that Midland States Bancorp will post 2.16 EPS for the current year.

Midland States Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.24 dividend on an annualized basis and a yield of 4.64%. Midland States Bancorp's payout ratio is 53.68%.

Insider Buying and Selling at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company'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 of the company's stock, valued at approximately $8,433,286.20. This represents a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 5.60% of the company's stock.

Hedge Funds Weigh In On Midland States Bancorp

A number of institutional investors have recently modified their holdings of MSBI. Quantbot Technologies LP boosted its stake in Midland States Bancorp by 25.8% in the third quarter. Quantbot Technologies LP now owns 2,475 shares of the financial services provider's stock valued at $55,000 after buying an additional 507 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Midland States Bancorp by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider's stock valued at $761,000 after purchasing an additional 683 shares in the last quarter. EntryPoint Capital LLC bought a new stake in shares of Midland States Bancorp during the 1st quarter valued at approximately $42,000. US Bancorp DE grew its holdings in shares of Midland States Bancorp by 141.6% during the 3rd quarter. US Bancorp DE now owns 3,803 shares of the financial services provider's stock valued at $85,000 after purchasing an additional 2,229 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its position in Midland States Bancorp by 8.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 28,461 shares of the financial services provider's stock worth $637,000 after purchasing an additional 2,295 shares in the last quarter. Institutional investors and hedge funds own 60.93% of the company's stock.

Midland States Bancorp Company Profile

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.