Midland States Bancorp (NASDAQ:MSBI) Upgraded at StockNews.com

Midland States Bancorp (NASDAQ:MSBI) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Several other equities analysts have also recently issued reports on MSBI. Piper Sandler boosted their target price on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday. Keefe, Bruyette & Woods reduced their price objective on shares of 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.

Midland States Bancorp Price Performance

NASDAQ:MSBI traded down $0.02 during mid-day trading on Tuesday, reaching $24.65. The stock had a trading volume of 129,722 shares, compared to its average volume of 79,009. The stock has a market capitalization of $527.26 million, a P/E ratio of 10.67 and a beta of 0.75. The firm has a 50 day moving average price of $22.52 and a two-hundred day moving average price of $22.74. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.95 and a current ratio of 0.95. Midland States Bancorp has a one year low of $20.54 and a one year high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last posted 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. Midland States Bancorp had a net margin of 12.13% and a return on equity of 9.00%. The business had revenue of $124.17 million during the quarter, compared to analyst estimates of $72.90 million. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, analysts expect that Midland States Bancorp will post 2 earnings per share for the current year.

Insider Activity at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was 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 of the company’s stock, valued at $8,433,286.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in shares of 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 period. EntryPoint Capital LLC purchased a new stake in Midland States Bancorp during the first quarter valued at approximately $42,000. US Bancorp DE raised its position in Midland States Bancorp by 141.6% in the third quarter. US Bancorp DE now owns 3,803 shares of the financial services provider’s stock worth $85,000 after acquiring an additional 2,229 shares during the period. Wedge Capital Management L L P NC boosted its stake in shares of Midland States Bancorp by 8.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 28,461 shares of the financial services provider’s stock worth $637,000 after acquiring an additional 2,295 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Midland States Bancorp by 9.9% during the 2nd quarter. Hsbc Holdings PLC now owns 28,562 shares of the financial services provider’s stock valued at $652,000 after acquiring an additional 2,562 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.