Midland States Bancorp (NASDAQ:MSBI) PT Raised to $27.00 at Piper Sandler

Midland States Bancorp (NASDAQ:MSBI) had its price target boosted by research analysts at Piper Sandler from $24.50 to $27.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 14.60% from the company’s current price.

A number of other research firms also recently issued reports on MSBI. Keefe, Bruyette & Woods dropped their target price on shares of Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating on the stock in a research report on Monday. Stephens lowered their target price on shares of Midland States Bancorp from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, Midland States Bancorp has an average rating of “Hold” and an average price target of $25.75.

Midland States Bancorp Trading Up 1.2 %

NASDAQ MSBI traded up $0.27 on Tuesday, reaching $23.56. The company had a trading volume of 2,569 shares, compared to its average volume of 76,061. The firm has a market cap of $506.07 million, a price-to-earnings ratio of 8.01 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.92 and a quick ratio of 0.91. Midland States Bancorp has a fifty-two week low of $19.85 and a fifty-two week high of $28.47. The business has a 50 day moving average of $22.92 and a two-hundred day moving average of $23.91.

Midland States Bancorp (NASDAQ:MSBI) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.52). The company had revenue of $120.95 million for the quarter, compared to the consensus estimate of $74.90 million. Midland States Bancorp had a return on equity of 9.25% and a net margin of 12.10%. During the same quarter last year, the business earned $0.87 earnings per share. Analysts forecast that Midland States Bancorp will post 2.7 EPS for the current year.

Insider Activity at Midland States Bancorp

In related news, CAO Donald J. Spring sold 1,197 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $22.00, for a total transaction of $26,334.00. Following the sale, the chief accounting officer now owns 12,015 shares of the company’s stock, valued at approximately $264,330. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jeffrey M. Mcdonnell acquired 2,290 shares of Midland States Bancorp stock in a transaction dated Thursday, June 13th. The shares were purchased at an average cost of $21.80 per share, for a total transaction of $49,922.00. Following the transaction, the director now owns 24,245 shares of the company’s stock, valued at $528,541. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Donald J. Spring sold 1,197 shares of Midland States Bancorp stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $22.00, for a total transaction of $26,334.00. Following the completion of the transaction, the chief accounting officer now owns 12,015 shares in the company, valued at approximately $264,330. The disclosure for this sale can be found here. 5.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Midland States Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its holdings in shares of Midland States Bancorp by 176.2% during the fourth quarter. Quadrant Capital Group LLC now owns 1,425 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 909 shares in the last quarter. EntryPoint Capital LLC bought a new position in Midland States Bancorp in the 1st quarter worth approximately $42,000. AJOVista LLC purchased a new position in Midland States Bancorp during the fourth quarter valued at $67,000. Comerica Bank increased its holdings in shares of Midland States Bancorp by 950.4% in the first quarter. Comerica Bank now owns 7,468 shares of the financial services provider’s stock worth $188,000 after purchasing an additional 6,757 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Midland States Bancorp by 2,688.1% during the 4th quarter. International Assets Investment Management LLC now owns 7,723 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 7,446 shares in the last quarter. Hedge funds and other institutional investors own 60.93% of the company’s stock.

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.