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

StockNews.com downgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a buy rating to a hold rating in a research note released on Friday.

Several other research firms have also commented on MSBI. Keefe, Bruyette & Woods reduced their price target on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. Piper Sandler lifted their price objective on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th.

Midland States Bancorp Price Performance

Midland States Bancorp stock opened at $27.39 on Friday. The firm has a fifty day moving average of $23.88 and a 200-day moving average of $23.10. Midland States Bancorp has a 52-week low of $20.54 and a 52-week high of $28.47. 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 firm has a market capitalization of $586.15 million, a P/E ratio of 11.86 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.11. The firm had revenue of $124.17 million during 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 period in the prior year, the firm earned $0.78 EPS. As a group, analysts predict that Midland States Bancorp will post 2.16 EPS for the current year.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Monday, November 18th. Midland States Bancorp’s dividend payout ratio is currently 53.68%.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, CEO Jeffrey G. Ludwig sold 12,753 shares of the 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 transaction, the chief executive officer now directly owns 343,935 shares in the company, valued at $8,433,286.20. This represents a 3.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Midland States Bancorp by 2.5% in the 3rd quarter. State Street Corp now owns 587,947 shares of the financial services provider’s stock valued at $13,158,000 after acquiring an additional 14,157 shares during the last quarter. Geode Capital Management LLC increased its stake in Midland States Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock valued at $11,460,000 after purchasing an additional 2,294 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Midland States Bancorp by 16.0% during the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock worth $9,107,000 after purchasing an additional 55,555 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Midland States Bancorp in the 3rd quarter worth about $5,764,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Midland States Bancorp by 6.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 165,615 shares of the financial services provider’s stock valued at $3,751,000 after buying an additional 10,354 shares during the period. Institutional investors own 60.93% of the company’s stock.

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.