Midland States Bancorp (NASDAQ:MSBI) Price Target Cut to $27.00 by Analysts at Stephens

Midland States Bancorp (NASDAQ:MSBI) had its price target lowered by equities researchers at Stephens from $29.00 to $27.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price target indicates a potential upside of 22.28% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Keefe, Bruyette & Woods cut their price target on shares of Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating on the stock in a research note on Tuesday. Piper Sandler decreased their price target on shares of Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating on the stock in a research note on Tuesday. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Midland States Bancorp has a consensus rating of “Hold” and an average target price of $25.63.

Midland States Bancorp Price Performance

Shares of NASDAQ:MSBI traded down $0.42 during midday trading on Tuesday, reaching $22.08. 19,159 shares of the company’s stock were exchanged, compared to its average volume of 56,767. Midland States Bancorp has a 12 month low of $17.98 and a 12 month high of $28.47. The firm has a market capitalization of $482.45 million, a PE ratio of 7.51 and a beta of 0.77. The company’s 50 day simple moving average is $24.05 and its two-hundred day simple moving average is $24.42. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.96 and a current ratio of 0.96.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.18). Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.56%. The company had revenue of $122.86 million during the quarter, compared to analyst estimates of $75.05 million. During the same quarter in the previous year, the business posted $0.88 EPS. Equities research analysts expect that Midland States Bancorp will post 2.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Midland States Bancorp

A number of large investors have recently modified their holdings of MSBI. Dimensional Fund Advisors LP raised its stake in shares of Midland States Bancorp by 2.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,371,940 shares of the financial services provider’s stock worth $37,811,000 after purchasing an additional 37,813 shares during the period. Vanguard Group Inc. boosted its position in shares of Midland States Bancorp by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,110,782 shares of the financial services provider’s stock valued at $22,815,000 after acquiring an additional 7,132 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Midland States Bancorp by 27.5% during the 3rd quarter. AQR Capital Management LLC now owns 250,599 shares of the financial services provider’s stock valued at $5,147,000 after acquiring an additional 54,090 shares during the last quarter. American Century Companies Inc. lifted its position in Midland States Bancorp by 11.3% in the 3rd quarter. American Century Companies Inc. now owns 239,352 shares of the financial services provider’s stock worth $4,916,000 after buying an additional 24,320 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Midland States Bancorp by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 186,258 shares of the financial services provider’s stock worth $3,826,000 after buying an additional 3,154 shares during the last quarter. 60.93% of the stock is currently owned by 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.