Midland States Bancorp (NASDAQ:MSBI) Stock Rating Lowered by StockNews.com

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

Several other analysts have also issued reports on the stock. Piper Sandler boosted their price target on shares of Midland States Bancorp from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods decreased their price objective 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, July 29th.

Midland States Bancorp Stock Performance

MSBI stock traded up $2.97 during midday trading on Wednesday, hitting $27.96. The company’s stock had a trading volume of 359,289 shares, compared to its average volume of 75,453. The stock’s 50-day moving average price is $22.92 and its 200 day moving average price is $22.85. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.10. Midland States Bancorp has a 1 year low of $20.54 and a 1 year high of $28.47. The stock has a market cap of $598.06 million, a price-to-earnings ratio of 12.10 and a beta of 0.74.

Midland States Bancorp (NASDAQ:MSBI) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.11. Midland States Bancorp had a return on equity of 9.00% and a net margin of 12.13%. The business had revenue of $124.17 million for the quarter, compared to analysts’ expectations of $72.90 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. On average, equities analysts forecast that Midland States Bancorp will post 2.14 EPS for the current year.

Insider Activity

In related news, CEO Jeffrey G. Ludwig sold 12,753 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $24.52, for a total transaction of $312,703.56. Following the sale, the chief executive officer now owns 343,935 shares of the company’s stock, valued at $8,433,286.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in Midland States Bancorp in the first quarter worth about $1,106,000. Janney Montgomery Scott LLC purchased a new position in shares of Midland States Bancorp during the first quarter valued at approximately $581,000. American Century Companies Inc. raised its holdings in shares of Midland States Bancorp by 16.0% during the second quarter. American Century Companies Inc. now owns 402,092 shares of the financial services provider’s stock valued at $9,107,000 after purchasing an additional 55,555 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Midland States Bancorp by 60.1% during the first 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 last quarter. Finally, Bank of Montreal Can purchased a new position in shares of Midland States Bancorp during the second quarter valued at approximately $1,350,000. 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.