Midland States Bancorp (NASDAQ:MSBI) Price Target Lowered to $23.00 at Keefe, Bruyette & Woods

Midland States Bancorp (NASDAQ:MSBI) had its target price cut by equities researchers at Keefe, Bruyette & Woods from $28.00 to $23.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 16.63% from the company’s previous close.

MSBI has been the subject of a number of other reports. Piper Sandler increased their price target on Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, October 29th. StockNews.com lowered Midland States Bancorp from a “buy” rating to a “hold” rating in a research note on Friday.

Midland States Bancorp Stock Down 21.1 %

MSBI opened at $19.72 on Monday. Midland States Bancorp has a 12 month low of $19.75 and a 12 month high of $28.10. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market cap of $422.03 million, a P/E ratio of 8.65 and a beta of 0.76. The stock’s 50 day moving average price is $25.24 and its 200 day moving average price is $23.94.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings results on Thursday, January 23rd. The financial services provider reported ($2.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($3.19). Midland States Bancorp had a net margin of 12.13% and a return on equity of 8.90%. As a group, research analysts predict that Midland States Bancorp will post 2.16 earnings per share for the current year.

Insider Transactions at Midland States Bancorp

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the firm’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 sale, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. This trade represents a 3.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 5.60% of the stock is currently owned by insiders.

Institutional Trading of Midland States Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. raised its holdings in shares of Midland States Bancorp by 31.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 89,187 shares of the financial services provider’s stock worth $1,996,000 after acquiring an additional 21,416 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Midland States Bancorp by 51.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 29,370 shares of the financial services provider’s stock worth $657,000 after acquiring an additional 9,953 shares in the last quarter. Barclays PLC raised its holdings in shares of Midland States Bancorp by 55.2% during the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock worth $1,463,000 after acquiring an additional 23,242 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Midland States Bancorp by 52.3% during the third quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock worth $2,469,000 after acquiring an additional 37,889 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Midland States Bancorp by 0.5% during the third quarter. Geode Capital Management LLC now owns 511,936 shares of the financial services provider’s stock worth $11,460,000 after acquiring an additional 2,294 shares in the last quarter. 60.93% of the stock is currently owned by hedge funds and other 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.