Midland States Bancorp (NASDAQ:MSBI) PT Lowered to $27.00

Midland States Bancorp (NASDAQ:MSBI) had its price objective reduced by equities researchers at Stephens from $29.00 to $27.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Stephens’ target price points to a potential upside of 17.44% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on Midland States Bancorp from $28.00 to $26.00 and set a “market perform” rating for the company in a research report on Tuesday. Piper Sandler decreased their price objective on shares of Midland States Bancorp from $26.00 to $24.50 and set a “neutral” rating for the company in a report on Tuesday. Five research analysts have rated the stock with a hold rating, According to MarketBeat, Midland States Bancorp currently has an average rating of “Hold” and an average target price of $25.63.

Midland States Bancorp Stock Up 5.0 %

MSBI stock opened at $22.99 on Tuesday. The firm has a market cap of $502.33 million, a PE ratio of 7.82 and a beta of 0.77. Midland States Bancorp has a 1 year low of $17.98 and a 1 year high of $28.47. The company has a fifty day simple moving average of $23.96 and a 200 day simple moving average of $24.42. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.91.

Midland States Bancorp (NASDAQ:MSBI) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.18). The company had revenue of $122.86 million during the quarter, compared to analyst estimates of $75.05 million. Midland States Bancorp had a return on equity of 11.56% and a net margin of 15.17%. During the same period in the prior year, the firm earned $0.88 EPS. Sell-side analysts anticipate that Midland States Bancorp will post 2.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC acquired a new stake in shares of Midland States Bancorp in the first quarter worth $581,000. BNP Paribas Financial Markets boosted its holdings in Midland States Bancorp by 60.1% in the 1st quarter. BNP Paribas Financial Markets now owns 20,702 shares of the financial services provider’s stock valued at $520,000 after purchasing an additional 7,770 shares during the period. Accurate Wealth Management LLC grew its position in Midland States Bancorp by 48.1% in the 1st quarter. Accurate Wealth Management LLC now owns 105,286 shares of the financial services provider’s stock worth $2,502,000 after purchasing an additional 34,191 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Midland States Bancorp by 9.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 18,575 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 1,532 shares during the period. Finally, Hennessy Advisors Inc. acquired a new position in shares of Midland States Bancorp during the fourth quarter valued at about $3,032,000. 60.93% of the stock is owned by institutional investors.

Midland States Bancorp Company Profile

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.