Midland States Bancorp (NASDAQ:MSBI) Price Target Raised to $27.00 at Piper Sandler

Midland States Bancorp (NASDAQ:MSBI) had its target price upped by Piper Sandler from $24.50 to $27.00 in a research report report published on Tuesday, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other equities research analysts have also issued reports on the stock. Stephens cut their target price on shares of Midland States Bancorp from $29.00 to $27.00 and set an equal weight rating on the stock in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods cut 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 research note on Monday, July 29th.

Midland States Bancorp Stock Down 2.4 %

Shares of NASDAQ MSBI opened at $22.09 on Tuesday. Midland States Bancorp has a 52-week low of $19.85 and a 52-week high of $28.47. The firm has a fifty day moving average of $22.94 and a 200-day moving average of $23.89. The stock has a market capitalization of $474.54 million, a PE ratio of 7.51 and a beta of 0.76. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 0.59.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.52). Midland States Bancorp had a return on equity of 9.25% and a net margin of 12.10%. The business had revenue of $120.95 million for the quarter, compared to analysts’ expectations of $74.90 million. During the same period last year, the company posted $0.87 earnings per share. On average, analysts anticipate that Midland States Bancorp will post 2.34 EPS for the current year.

Midland States Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 17th were given a $0.31 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.24 annualized dividend and a dividend yield of 5.61%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 42.18%.

Insider Activity at Midland States Bancorp

In related news, CAO Donald J. Spring sold 1,197 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $22.00, for a total value of $26,334.00. Following the completion of the sale, the chief accounting officer now owns 12,015 shares in the company, valued at approximately $264,330. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Midland States Bancorp news, CAO Donald J. Spring sold 1,197 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $22.00, for a total value of $26,334.00. Following the completion of the sale, the chief accounting officer now owns 12,015 shares in the company, valued at approximately $264,330. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeffrey M. Mcdonnell bought 2,290 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was bought at an average price of $21.80 per share, with a total value of $49,922.00. Following the transaction, the director now owns 24,245 shares in the company, valued at $528,541. The disclosure for this purchase can be found here. 5.60% of the stock is owned by insiders.

Institutional Trading of Midland States Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers grew its position in Midland States Bancorp by 2.1% in the 2nd quarter. Rhumbline Advisers now owns 33,607 shares of the financial services provider’s stock worth $761,000 after purchasing an additional 683 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Midland States Bancorp by 176.2% during the 4th quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 909 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Midland States Bancorp by 9.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 18,575 shares of the financial services provider’s stock worth $467,000 after acquiring an additional 1,532 shares during the period. EntryPoint Capital LLC bought a new position in shares of Midland States Bancorp during the 1st quarter worth about $42,000. Finally, Wedge Capital Management L L P NC lifted its holdings in shares of Midland States Bancorp by 9.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 19,274 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 1,740 shares during the period. 60.93% of the stock is currently owned by institutional investors and hedge funds.

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.