Midland States Bancorp (NASDAQ:MSBI) Raised to “Buy” at StockNews.com

Midland States Bancorp (NASDAQ:MSBI) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

Several other research firms have also commented on MSBI. Keefe, Bruyette & Woods dropped their price objective on shares of Midland States Bancorp from $21.00 to $20.00 and set a “market perform” rating on the stock in a research note on Friday, May 2nd. DA Davidson dropped their price target on Midland States Bancorp from $27.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 28th. Finally, Piper Sandler cut their price target on Midland States Bancorp from $28.50 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 28th.

Midland States Bancorp Stock Down 0.7 %

Shares of NASDAQ:MSBI opened at $17.79 on Monday. The firm has a market capitalization of $380.72 million, a P/E ratio of -16.94 and a beta of 0.72. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a 50 day moving average price of $17.23 and a 200-day moving average price of $21.52. Midland States Bancorp has a 52-week low of $14.79 and a 52-week high of $28.08.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.05. Midland States Bancorp had a negative return on equity of 1.95% and a negative net margin of 2.74%. The business had revenue of $76.16 million during the quarter, compared to the consensus estimate of $72.93 million. As a group, equities research analysts anticipate that Midland States Bancorp will post 2.53 EPS for the current fiscal year.

Institutional Trading of Midland States Bancorp

Several institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in shares of Midland States Bancorp in the fourth quarter worth approximately $356,000. JPMorgan Chase & Co. raised its holdings 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 acquiring an additional 37,889 shares during the last quarter. Barclays PLC raised its holdings in Midland States Bancorp by 55.2% in the 3rd 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 during the last quarter. Sequoia Financial Advisors LLC bought a new position in Midland States Bancorp in the 4th quarter valued at approximately $757,000. Finally, Dana Investment Advisors Inc. purchased a new stake in Midland States Bancorp during the 4th quarter valued at $1,382,000. 60.93% of the stock is 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.