Midland States Bancorp (NASDAQ:MSBI) Price Target Raised to $27.00

Midland States Bancorp (NASDAQ:MSBI) had its target price raised by research analysts at Piper Sandler from $26.00 to $27.00 in a 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 points to a potential upside of 9.44% from the stock’s current price.

Separately, Keefe, Bruyette & Woods decreased their price objective on Midland States Bancorp from $26.00 to $24.00 and set a “market perform” rating for the company in a report on Monday, July 29th.

Midland States Bancorp Stock Up 4.4 %

Shares of MSBI opened at $24.67 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.10. The firm has a fifty day moving average price of $22.46 and a 200-day moving average price of $22.73. The firm has a market capitalization of $527.69 million, a P/E ratio of 10.68 and a beta of 0.75. Midland States Bancorp has a 12-month low of $20.54 and a 12-month high of $28.47.

Midland States Bancorp (NASDAQ:MSBI) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.11. The firm had revenue of $124.17 million during the quarter, compared to the consensus estimate of $72.90 million. Midland States Bancorp had a return on equity of 9.00% and a net margin of 12.13%. During the same period in the previous year, the company posted $0.78 earnings per share. Equities research analysts expect that Midland States Bancorp will post 2 earnings per share for the current year.

Hedge Funds Weigh In On Midland States Bancorp

A number of large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in Midland States Bancorp by 16.0% in the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock worth $9,107,000 after purchasing an additional 55,555 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Midland States Bancorp by 6.7% in the second quarter. Bank of New York Mellon Corp now owns 165,615 shares of the financial services provider’s stock worth $3,751,000 after purchasing an additional 10,354 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Midland States Bancorp by 7.4% in the first quarter. Russell Investments Group Ltd. now owns 92,589 shares of the financial services provider’s stock worth $2,327,000 after purchasing an additional 6,371 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Midland States Bancorp by 69.6% in the second quarter. Acadian Asset Management LLC now owns 74,722 shares of the financial services provider’s stock worth $1,691,000 after purchasing an additional 30,677 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Midland States Bancorp by 6.1% during the second quarter. Thrivent Financial for Lutherans now owns 68,640 shares of the financial services provider’s stock valued at $1,554,000 after acquiring an additional 3,976 shares in the last quarter. 60.93% of the stock is currently 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.