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

Midland States Bancorp (NASDAQ:MSBI) had its target price hoisted by Piper Sandler from $26.00 to $27.00 in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods decreased their price target 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 Price Performance

MSBI stock opened at $24.81 on Tuesday. Midland States Bancorp has a one year low of $20.54 and a one year high of $28.47. The company’s fifty day moving average price is $22.64 and its 200-day moving average price is $22.76. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $530.69 million, a PE ratio of 10.74 and a beta of 0.75.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, October 24th. The financial services provider reported $0.74 EPS for the quarter, topping 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 firm had revenue of $124.17 million for the quarter, compared to the consensus estimate of $72.90 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, equities analysts anticipate that Midland States Bancorp will post 2.14 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 16th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date was Friday, August 16th. Midland States Bancorp’s payout ratio is 53.68%.

Insider Activity at Midland States Bancorp

In other 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 value of $312,703.56. Following the sale, the chief executive officer now owns 343,935 shares of the company’s stock, valued at approximately $8,433,286.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 made changes to their positions in the company. EntryPoint Capital LLC purchased a new stake in shares of Midland States Bancorp in the first quarter valued at $42,000. US Bancorp DE grew its holdings in shares of 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 purchasing an additional 2,229 shares during the last quarter. Comerica Bank grew its holdings in shares of Midland States Bancorp by 950.4% in the first quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 6,757 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Midland States Bancorp in the second quarter worth about $218,000. Finally, Squarepoint Ops LLC bought a new position in shares of Midland States Bancorp in the second quarter worth about $248,000. Hedge funds and other 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.