Midland States Bancorp (NASDAQ:MSBI) Price Target Cut to $26.00

Midland States Bancorp (NASDAQ:MSBI) had its price target decreased by stock analysts at Keefe, Bruyette & Woods from $28.00 to $26.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 13.09% from the company’s current price.

Separately, Piper Sandler lowered their price objective on Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating for the company in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.63.

Midland States Bancorp Stock Performance

Midland States Bancorp stock opened at $22.99 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91. The stock has a 50 day moving average of $23.96 and a 200-day moving average of $24.42. The stock has a market cap of $502.33 million, a P/E ratio of 7.82 and a beta of 0.77. Midland States Bancorp has a 52 week low of $17.98 and a 52 week high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). The company had revenue of $122.86 million for the quarter, compared to the consensus estimate of $75.05 million. Midland States Bancorp had a net margin of 15.17% and a return on equity of 11.56%. During the same quarter last year, the company earned $0.88 earnings per share. On average, analysts expect that Midland States Bancorp will post 2.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Midland States Bancorp

Institutional investors have recently made changes to their positions in the stock. Quadrant Capital Group LLC grew its holdings in Midland States Bancorp by 176.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock worth $39,000 after buying an additional 909 shares in the last quarter. AJOVista LLC bought a new position in Midland States Bancorp in the 4th quarter worth approximately $67,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Midland States Bancorp by 110.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,168 shares of the financial services provider’s stock worth $127,000 after buying an additional 3,244 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Midland States Bancorp by 2,688.1% in the 4th quarter. International Assets Investment Management LLC now owns 7,723 shares of the financial services provider’s stock worth $213,000 after buying an additional 7,446 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in Midland States Bancorp in the 3rd quarter worth approximately $244,000. 60.93% of the stock is owned by 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.