Piper Sandler Cuts Midland States Bancorp (NASDAQ:MSBI) Price Target to $23.00

Midland States Bancorp (NASDAQ:MSBI) had its price objective decreased by Piper Sandler from $28.50 to $23.00 in a research report released on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

A number of other analysts have also weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Midland States Bancorp from $28.00 to $23.00 and set a “market perform” rating on the stock in a research note on Monday. StockNews.com lowered shares of 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, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $23.50.

Midland States Bancorp Stock Performance

NASDAQ:MSBI opened at $19.81 on Tuesday. The firm has a market capitalization of $423.93 million, a PE ratio of 8.58 and a beta of 0.76. The stock’s fifty day moving average is $24.70 and its 200 day moving average is $23.83. Midland States Bancorp has a fifty-two week low of $18.75 and a fifty-two week high of $28.08. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($3.19). Midland States Bancorp had a return on equity of 8.90% and a net margin of 12.13%. On average, sell-side analysts anticipate that Midland States Bancorp will post 2.16 earnings per share for the current year.

Midland States Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a $0.31 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.24 annualized dividend and a dividend yield of 6.26%. Midland States Bancorp’s dividend payout ratio is currently 53.68%.

Hedge Funds Weigh In On Midland States Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new position in shares of Midland States Bancorp in the 3rd quarter valued at $31,000. R Squared Ltd bought a new stake in Midland States Bancorp during the fourth quarter valued at about $39,000. Point72 Asset Management L.P. purchased a new position in Midland States Bancorp in the third quarter valued at about $45,000. Quantbot Technologies LP raised its holdings 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 worth $55,000 after purchasing an additional 507 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of 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 valued at $85,000 after buying an additional 2,229 shares during the last quarter. 60.93% of the stock is currently owned by 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.