Midland States Bancorp (NASDAQ:MSBI) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Midland States Bancorp (NASDAQ:MSBI) from a buy rating to a hold rating in a report published on Friday morning.

MSBI has been the subject of several other research reports. Piper Sandler raised their price target on Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods dropped their price objective on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a research report on Monday, July 29th.

Midland States Bancorp Price Performance

Midland States Bancorp stock opened at $27.39 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.79. The firm’s 50-day simple moving average is $23.88 and its 200 day simple moving average is $23.10. Midland States Bancorp has a 52 week low of $20.54 and a 52 week high of $28.47. The firm has a market capitalization of $586.15 million, a PE ratio of 11.86 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.74 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 8.90%. The business had revenue of $124.17 million for the quarter, compared to analyst estimates of $72.90 million. During the same period in the prior year, the business earned $0.78 earnings per share. On average, equities research analysts predict that Midland States Bancorp will post 2.16 EPS for the current fiscal year.

Midland States Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.24 annualized dividend and a yield of 4.53%. Midland States Bancorp’s dividend payout ratio (DPR) is presently 53.68%.

Insider Transactions at Midland States Bancorp

In related 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 value of $312,703.56. Following the completion of the transaction, the chief executive officer now directly owns 343,935 shares in the company, valued at approximately $8,433,286.20. This represents a 3.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.60% of the company’s stock.

Institutional Trading of Midland States Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MSBI. Acadian Asset Management LLC acquired a new stake in shares of Midland States Bancorp in the first quarter worth approximately $1,106,000. American Century Companies Inc. boosted its holdings in shares of Midland States Bancorp by 16.0% in the 2nd quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after purchasing an additional 55,555 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Midland States Bancorp in the 2nd quarter valued at $1,350,000. Hsbc Holdings PLC increased its holdings 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 worth $652,000 after buying an additional 2,562 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Midland States Bancorp by 47.5% during the 3rd quarter. SG Americas Securities LLC now owns 14,214 shares of the financial services provider’s stock worth $318,000 after buying an additional 4,576 shares during the last quarter. 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.