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

StockNews.com downgraded shares of Midland States Bancorp (NASDAQ:MSBI) from a buy rating to a hold rating in a research report sent to investors on Friday.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods upped their target price on Midland States Bancorp from $24.00 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler upped their price objective on shares of Midland States Bancorp from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 29th.

Midland States Bancorp Trading Down 20.0 %

Shares of Midland States Bancorp stock opened at $20.00 on Friday. The company’s 50-day moving average price is $25.24 and its 200-day moving average price is $23.92. The company has a market cap of $428 million, a price-to-earnings ratio of 8.66 and a beta of 0.76. Midland States Bancorp has a 12-month low of $19.75 and a 12-month high of $28.10. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.79.

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

Midland States Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend was Monday, November 18th. Midland States Bancorp’s dividend payout ratio (DPR) is currently 53.68%.

Insider Activity

In other news, CEO Jeffrey G. Ludwig sold 12,753 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were 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 approximately $8,433,286.20. This represents a 3.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.60% of the company’s stock.

Institutional Trading of Midland States Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Midland States Bancorp in the third quarter worth about $5,764,000. Bank of Montreal Can purchased a new position in Midland States Bancorp in the 2nd quarter worth approximately $1,350,000. JPMorgan Chase & Co. increased its stake in Midland States Bancorp by 52.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,306 shares of the financial services provider’s stock worth $2,469,000 after purchasing an additional 37,889 shares during the period. Barclays PLC lifted its position in Midland States Bancorp by 55.2% in the third quarter. Barclays PLC now owns 65,384 shares of the financial services provider’s stock valued at $1,463,000 after purchasing an additional 23,242 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake 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 valued at $1,996,000 after purchasing an additional 21,416 shares during the period. 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.