Midland States Bancorp (NASDAQ:MSBI) Given New $27.00 Price Target at Piper Sandler

Midland States Bancorp (NASDAQ:MSBI) had its price target raised by Piper Sandler from $26.00 to $27.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods lowered their price target 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.

Midland States Bancorp Stock Down 1.0 %

Shares of Midland States Bancorp stock opened at $24.81 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.95 and a quick ratio of 0.95. Midland States Bancorp has a 1 year low of $20.54 and a 1 year high of $28.47. The firm’s 50-day moving average is $22.64 and its two-hundred day moving average is $22.76. The stock has a market cap of $530.69 million, a price-to-earnings ratio of 10.74 and a beta of 0.75.

Midland States Bancorp (NASDAQ:MSBI) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, topping 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 company had revenue of $124.17 million for the quarter, compared to analysts’ expectations of $72.90 million. During the same period in the prior year, the business earned $0.78 EPS. As a group, research analysts expect that Midland States Bancorp will post 2.14 earnings per share for the current fiscal year.

Midland States Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 16th were issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 5.00%. The ex-dividend date of this dividend was Friday, August 16th. Midland States Bancorp’s dividend payout ratio is currently 53.68%.

Insider Activity

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total value of $312,703.56. Following the completion of the transaction, the chief executive officer now directly owns 343,935 shares of the company’s stock, 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 through this hyperlink. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On Midland States Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of MSBI. Bank of Montreal Can purchased a new position in shares of Midland States Bancorp in the 2nd quarter valued at approximately $1,350,000. American Century Companies Inc. raised its position in Midland States Bancorp by 16.0% during the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock worth $9,107,000 after buying an additional 55,555 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Midland States Bancorp during the 1st quarter worth approximately $1,106,000. Janney Montgomery Scott LLC purchased a new position in Midland States Bancorp during the 1st quarter worth approximately $581,000. Finally, Summit Global Investments purchased a new position in Midland States Bancorp during the 3rd quarter worth approximately $251,000. 60.93% of the stock is owned by hedge funds and other institutional investors.

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.