Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives Consensus Rating of “Reduce” from Analysts

by · The Cerbat Gem

Shares of Midland States Bancorp, Inc. (NASDAQ:MSBI – Get Free Report) have been assigned a consensus rating of “Reduce” from the six brokerages that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $20.00.

Several equities analysts have commented on MSBI shares. Weiss Ratings restated a “sell (d+)” rating on shares of Midland States Bancorp in a research note on Monday. Wall Street Zen lowered Midland States Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, December 6th. Keefe, Bruyette & Woods upped their price target on Midland States Bancorp from $17.00 to $19.00 and gave the stock a “market perform” rating in a report on Monday, December 8th. Stephens raised Midland States Bancorp to a “hold” rating in a research report on Thursday, September 11th. Finally, Zacks Research upgraded Midland States Bancorp from a “strong sell” rating to a “hold” rating in a research note on Monday.

Read Our Latest Analysis on MSBI

Insiders Place Their Bets

In other news, insider Daniel Edward Casey acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was acquired at an average cost of $17.89 per share, with a total value of $89,450.00. Following the transaction, the insider owned 28,254 shares in the company, valued at approximately $505,464.06. This trade represents a 21.50% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jeremy Andrew Jameson bought 5,598 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was acquired at an average cost of $17.69 per share, for a total transaction of $99,028.62. Following the acquisition, the executive vice president directly owned 63,412 shares of the company’s stock, valued at $1,121,758.28. The trade was a 9.68% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 11,098 shares of company stock worth $197,324 over the last 90 days. Company insiders own 5.27% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in MSBI. Vanguard Group Inc. boosted its holdings in Midland States Bancorp by 2.5% in the first quarter. Vanguard Group Inc. now owns 1,209,953 shares of the financial services provider’s stock valued at $20,714,000 after purchasing an additional 29,439 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Midland States Bancorp by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 605,625 shares of the financial services provider’s stock worth $10,491,000 after buying an additional 29,829 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Midland States Bancorp by 6.0% during the 2nd quarter. American Century Companies Inc. now owns 543,869 shares of the financial services provider’s stock worth $9,420,000 after buying an additional 30,733 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Midland States Bancorp by 38.1% in the 2nd quarter. AQR Capital Management LLC now owns 540,997 shares of the financial services provider’s stock valued at $9,370,000 after buying an additional 149,175 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its position in shares of Midland States Bancorp by 6.3% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 303,640 shares of the financial services provider’s stock valued at $5,198,000 after buying an additional 18,100 shares during the last quarter. Institutional investors and hedge funds own 60.93% of the company’s stock.

Midland States Bancorp Stock Up 0.4%

Shares of MSBI opened at $21.48 on Wednesday. The company’s 50-day simple moving average is $17.50 and its 200-day simple moving average is $17.60. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.84 and a current ratio of 0.85. Midland States Bancorp has a 1 year low of $14.24 and a 1 year high of $25.76. The stock has a market capitalization of $462.89 million, a PE ratio of -16.91 and a beta of 0.69.

Midland States Bancorp (NASDAQ:MSBI – Get Free Report) last announced its earnings results on Wednesday, March 23rd. The financial services provider reported $0.54 earnings per share for the quarter. The firm had revenue of $70.61 million for the quarter. Midland States Bancorp had a negative net margin of 3.80% and a negative return on equity of 3.63%. Analysts forecast that Midland States Bancorp will post 2.53 earnings per share for the current fiscal year.

Midland States Bancorp declared that its board has approved a stock repurchase program on Monday, November 3rd that permits the company to buyback $25.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 7.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Midland States Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 14th were paid a $0.32 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.28 dividend on an annualized basis and a yield of 6.0%. Midland States Bancorp’s payout ratio is currently -100.79%.

About Midland States Bancorp

(Get Free Report)

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.

See Also